Stock Recommendation and Analysis
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Stocks In News
- ₹430.45
- ₹51.3
- 13.53%
DCX Systems received a significant contract from Larsen & Toubro, said the company in an exchange filing on Monday. The purchase order, valued at Rs 1,250 crore plus applicable taxes, involves the manufacturing and supply of electronic modules. The company will be executing the order within a timeframe of three years.
Source: BSE AnnouncementJuly 2, 2024- ₹1070.35
- ₹3.4
- 0.32%
- ₹380.9
- ₹5.5
- 1.47%
- ₹244.35
- ₹-7.3
- -2.9%
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- ₹420.8
- ₹9.1
- 2.21%
- ₹478.95
- ₹4.15
- 0.87%
State-owned Coal India Ltd (CIL) on Monday announced that it has recorded coal production of 189.3 million tonnes (MTs) in the first quarter ending June FY2025, posting a growth of 7.9 per cent in comparison to 175.5 posted during the same period last year. This was 13.8 MTs more in volume terms compared to the corresponding quarter of FY 2024.
Source: BSE AnnouncementJuly 2, 2024- ₹814.2
- ₹5.75
- 0.71%
Jindal Stainless completed the acquisition of Sulawesi Nickel Processing Industries Holdings Pte., a Singapore-based firm. This will facilitate the establishment of a joint venture in Indonesia aimed at investing in, developing, constructing, and operating a stainless steel melt shop.
Source: BSE AnnouncementJuly 1, 2024- ₹3309.65
- ₹147.2
- 4.65%
- ₹2260.25
- ₹-3.35
- -0.15%
Udupi Cochin Shipyard, a wholly owned subsidiary of Cochin Shipyard, secured an international order for the construction of eight 6300 TDW (total dry weight) Dry Cargo Vessels. The order worth Rs 1,100 crores was placed by Wilson ASA, a Norway-based company. The contract includes the design and construction of four vessels, with an agreement for an additional four vessels to be formally contracted by September 19, 2024.
Source: BSE AnnouncementJuly 1, 2024- ₹174.5
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- 0.23%
- ₹425.35
- ₹-3.95
- -0.92%
Consumers spent Rs 32,500 crore to buy Kolkata-based ITC’s fast-moving consumer goods (FMCG), excluding cigarettes, in financial year 2023-24, the company said in its annual report released on Friday. This represents a growth of 12% against last year (FY23), when consumer spends on FMCG products stood at Rs 29,000 crore, a 21% increase year-on-year. The modest rise in consumer spending can be attributed to weak demand and competitive intensity in FY24, the company said.
Also, Sanjiv Puri, chairman and managing director (CMD) of ITC, was the highest-paid chief executive officer (CEO) among some of the country’s top fast-moving consumer goods (FMCG) peers in FY24. Annual reports for a few FMCG firms, including Hindustan Unilever (HUL) and Nestle India, have been released so far.
- ₹3.09
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US-based technology consulting company Palguntech, a bidder for Future Retail (FRL), has offered Rs 560 crore to acquire the entire stake and assets of the beleaguered firm.Further, the firm is also ready to take over all the cases pending against FRL promoters from the resolution professional. This is, however, subject to discussions with the Committee of Creditors (CoC) and the share the lenders agree to give to Palguntech, the US company said in a letter to the administrator.
Source: BSE AnnouncementJuly 1, 2024Today’s Market Headlines
Research Reports
Emkay Globla on Mahanagar Gas (MGL) after an analysts meet
Emkay Global has a “Buy” rating with an unchanged target price of Rs 1,680.
PDFEmkay Global on general elections 2024
“We turn defensive on the markets after the adverse results in the general elections, with the BJP missing an absolute majority,” said Emkay.
PDFElara Securities on Apollo Hospitals post Q4 results
“We raise FY25E/26E core EPS by 1-5% and introduce FY27E estimates,” said Elara Securities. It raised the rating on the stock to “Accumulate” from “Reduce”.
PDFPrabhudas Lilladher on NMDC post Q4 FY24 results
The brokerage firm has maintained its “Accumulate” rating on the stock but raised the price target to Rs 279 from Rs 253.
PDFMotilal Oswal on NMDC post Q4 FY24 results
The brokerage house kept the rating unchanged to “Buy” with a revised target price of Rs 300.
PDFMotilal Oswal on LIC post Q4 results
The brokerage house has maintained its “Buy” rating on the stock of LIC, with an unchanged target price of Rs 1,270.
PDFJM Financial on LIC post Q4 results
The brokerage house has maintained its “Buy” rating on the stocks, with an unchanged target price of Rs 1,222.
PDFMotilal Oswal on Colgate Palmolive
The brokerage house has maintained its “Neutral” rating on the stock of Colgate Palmolive, with an unchanged target price of Rs 2,500.
PDFMotilal Oswal on Titan Company
The brokerage will monitor the near-term consumption trend. However, due to competitive pressure on margins, Motilal has cut its EPS estimates by 6% and 5% for FY25 and FY26, respectively.
PDFJM Financials on Avenue Supermarts (D-Mart)
We continue to like DMart – businesses with such long growth runways are rare, any weakness in the name should be looked as an opportunity to add the stock.
PDFJM Financial on Coforge
JM Financial has maintained a “Buy” rating on the stock of Coforge, with a cut in target price at Rs 5,570 from Rs 6,940.
PDFPrabhudas Lilladher on Dabur India
Prabhudas has raised the target price marginally on Dabur India to Rs 563 from Rs 535, earlier. It has maintained its “Accumulate” rating on the stock.
PDFJM Financials on Havells India
JM Financial has raise the target price on Havells India.
PDFMotilal Oswal on Tata Chemicals, Trent, Ultratech Cement
Motilal Oswal’s report indicates that they are broadly maintaining their FY25/FY26 EBITDA estimates for Tata Steel. The brokerage reiterates its Neutral rating on the stock and assigns a Sum-of-the-Parts (SoTP)-based target price of Rs 980.
PDFPrabhudas Lilladher has maintained a "Buy" with a target price Rs 7,050
Hence our core net profit for FY25/26E is raised by 4.5%. Likely RoA/RoE for FY26E at 2.1%/17.2% remains one of the best-in-class. Maintaining multiple at 3.0x, we raise the based target price to Rs 1,450 from Rs 1,300 as we roll forward to Mar’26 core ABV.
PDFEquirus Securities said it sees limited downside given the current valuations
We remain watchful of the developments at Bandhan and put the stock under review
PDFInCred Equities cuts Coforge target price by 9% on raising funds via QIP
The brokerage house has kept the rating unchanged to “Hold” on Coforge. The brokerage gave the rationale that diluting equity to raise funds could outweigh the company’s gains from acquisitions.
PDFAnitque stay posiitve on OMCs despite cut in petrol and diesel prices
“we don’t expect the margin hit to be permanent and believe retail price revisions will resume post the elections as has been observed over the years,” Anitque said.
PDFJefferies maintains a positive stance on Marico, retaining its “BUY” recommendation.
Jefferies has slightly lowered the target price to Rs650 from Rs660.
PDFInCred Equities has raised the target price on Bajaj Auto’s stock to Rs 8,090
InCred Equities has kept the rating unchanged to “Add”
PDFJefferies raised target price on Bajaj Auto to Rs 9,000
The brokerage house is positive about the company as it believes Indian two-wheelers are about to see a strong cyclic recovery.
PDFCLSA maintains ‘Buy’ on HDFC Bank with target of Rs 1,536.90
CLSA’s analysis delves into the nuanced discussion surrounding the equilibrium between deposit growth and Net Interest Margin (NIM).
PDFStoxBox on HDFC Bank
StoxBox remains optimistic about the bank’s strategy for modest growth in this segment.
PDFMotilal Oswal on HDFC Bank
Motilal Oswal has reiterated a ‘Buy’ rating for HDFC Bank stock, maintaining a target price of ₹1,950.
PDFInCred on HDFC Bank
InCred has recommended an ‘Add’ rating for HDFC Bank, setting a target of Rs 2,000 per share.
PDFJM Financials on HDFC Bank
JM Financial maintains a “BUY” recommendation for HDFC Bank with a target price of Rs 2010, valuing the core bank at 2.4 times the FY26E Price to Book Value (P/BV), while subsidiaries are assessed at INR 210.
PDFJefferies on HDFC Bank
Jefferies maintains a “Buy” stance, analysts have adjusted the target for HDFC Bank to Rs 2000 from Rs 2100, citing a slower improvement in Net Interest Margins (NIMs) as a primary factor.
PDFJefferies raises target price to Rs 1,070 on Newgen; sees growth momentum to sustain
Jefferies expects the company to deliver 26% earnings per share on a compounded annual growth rate over FY 25 – FY26.
PDFJefferies says Jio Financial Services taking balanced approach
The brokerage house also believes that the initial concerns about Jio Financial increasing competitiveness have “limited risk for BAF (Bajaj Finance) and banks.”
PDFJefferies forecasts robust growth in India’s midcap stocks, Top picks include Amber, Dixon, Pidilite Industries
Jefferies predicts that the topline growth in Q3FY24 will be predominantly volume-driven, with a particular emphasis on companies in the Cables & Wires sector, including POLYCAB and Finolex Cables.
PDFJefferies maintains ‘Buy’ on HDFC, sees 24% upside despite lower pre-quarter retail net inflow and overall inflow : 9th Jan
Jefferies maintained a ‘Buy’ rating on the stock of HDFC Bank with a 24% upside target price of Rs2,100 despite the bank’s pre-quarter lower retail net inflow and overall inflow in the 3QFY24.
PDFMotilal Oswal Top Picks in 2024 – SBI, ONGC, Sunteck Realty, Coal India Dalmia Bharat : 2nd Jan
The brokerage firm foresees continued outperformance in the Indian market throughout 2024, propelled by strong macro and micro fundamentals. Motilal Oswal identifies State Bank Of India (SBI), Hero MotoCorp, Dalmia Bharat, Coal India, Kajaria Ceramics, and several other stocks as their top choices for the year 2024.
PDFJefferies Report on Siemens: 27th Dec
Jefferies has revised its target price for the company to Rs 5,000 per share, up from the previous target of Rs 4,520. This adjustment suggests a potential upside of 28% from its current market price (CMP) of Rs 3,898.6. The brokerage house says, “We consider Siemens a strong investment in power transmission and railways, areas where our optimism for capital expenditure is highest.” Siemens Energy contributed 31 percent to the overall revenue, and the energy segment’s market is anticipated to receive a surge from capital expenditures in transmission, as well as High Voltage Direct Current (HVDC) projects.
PDFJefferies Report stating that best India portfolio stock skyrockets by 309%, worst China stock plunges 55% : 14th Dec
As of year-to-date, Jefferies’ long-only India portfolio has demonstrated robust growth, soaring by an impressive 41.2% in dollar terms on a total-return basis.
PDFJefferies report highlights strong growth and positive trends in Indian industrials sector: 18th Dec
Jefferies identifies key players as top picks for investors in the Indian industrials sector. These include Larsen & Toubro (L&T), Siemens, Thermax, and KEI.
PDFJefferies report unveils potential disruptions in insurance sector: 15th Dec
According to Jefferies analysis, the proposed threshold premium concept is currently in the consultation stage, with final terms to be determined through ongoing deliberations.One key implication highlighted by Jefferies is the possibility of increased surrender values, which could have a cascading effect on fees for insurers.
PDFJefferies Maintains ‘Buy’ recommendation on ITC: 13th Dec
Jefferies has reaffirmed its positive stance on ITC, maintaining a ‘Buy’ rating with the potential upside of 17%, setting a target price of Rs 530 per share, emphasizing the company’s potential for growth in the future.
PDFJefferies Report on Hindustan Unilever
Jeffries sees 6% upside potential in Hindustan Unilever and assigned Hold rating with an upside target of Rs 2,720.
PDFJefferies Report on SIP
Jefferies says signs of lumpsum flows moderating shows investors maturity. According to the report, SIPs continued their upward trajectory with a notable 28% year-on-year growth and a steady 1% month-on-month increase.
PDFJefferies Report on Coforge
Jefferies has maintained a ‘buy’ rating for Coforge, with a revised target price of Rs 6,580 from the earlier Rs 5,250, indicating an impressive upside of 14%.
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