India: Latent View Analytics Ltd, Oil & Natural Gas Corp, Tata Consultancy Svcs, ABM Investama, KNR Constructions, Gulf Oil Lubricants India, J.B. Chemicals & Pharmaceuticals and more

• Latent View Analytics is the leading pure play data analytics services companies in India.
• It provides expertise on the entire value chain of data analytics from data and analytics consulting to business analytics and insights
• It engages to provide services to blue chip companies in technology, BFSI, CPG & retail, industrials and other industries

• Oil & Natural Gas Corporation (ONGC) is primarily engaged in exploration, development and production of crude oil and natural gas.
• ONGC’s crude oil production has been in the range of 54-63% of total domestic oil production in FY11-21
• Target Price and Valuation: We value ONGC at Rs 185 i.e. Rs ~164 for core oil & gas business and Rs ~21 for subsidiaries and other investments

• TCS Buyback: An Opportunity For Retail Investors.

The Asia HY Trade Book for the month of February includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds in the Lucror Asia HY index.

• KNR Constructions is one of the leading companies in the roads and highways sector having executed 6,000+ lane km of projects across 12 states in India
• The company also has an established presence in irrigation and urban water infrastructure management.
• Target Price and Valuation: We value KNR at Rs 360/share

• Gulf Oil Lubricants is one of the leading private companies in the domestic lubricants business
• The company reported volume growth at ~9% CAGR in FY16-21
• Target Price and Valuation: We roll over valuations to FY24E and value Gulf Oil Lubricants at Rs 565/ share i.e. 10x FY24E EPS

• JB Chemicals & Pharmaceuticals’ (JBCPL) Q3FY22 performance was better than our estimates on operational fronts.
• Excluding revenue deferred to Q3FY21 from Q2FY21, consolidated revenue grew 23% YoY to Rs6bn (I-Sec est: 5.8bn).
• EBITDA margin stood at 21.3%, higher than our estimate of 19.8%.