We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Citigroup on IGL: Buy| Target Rs 510
Citigroup maintained a buy rating on IGL with a target price of Rs 510. The company delivered on its Mar’24 volume guidance of 9 mmscmd, implying 10% YoY growth.
The global investment bank expects favorable outlook for volume growth in FY25E, which would indicate business as usual.
Inorganic opportunities – either through regulatory or company-specific action. “We see favourable policy measures by the govt to promote CNG,” said the note.
CLSA on Titan Company: Buy| Target Rs 4494
CLSA maintained a buy rating on Titan Company with a target price of Rs 4494. Analyse pricing power for Tanishq’s relative peers
Tanishq’s making charges scale with product prices as a percentage of the product price. This demonstrates Tanishq’s pricing power, especially at the premium end.
Most other large competitors see making charges fall with rising product prices, an indication of lower pricing power.
Tanishq’s focus on design, consumer trust, and customer service allows the brand to charge a significant premium. This is reflected in higher operating margins and returns.
Axis Capital on Rallis India: Reduce| Target Rs 230
Axis Capital initiated coverage on Rallis India with a reduce rating and a target price of Rs 230.
The domestic product portfolio is undergoing a change. Exports’ outlook is uncertain on adverse macro. “The valuations are rich, and we await signs of recovery in generics and comfort in the stock’s valuations,” said the note.
Jefferies on IndusInd Bank: Buy| Target Rs 2070
Jefferies maintained a buy rating on IndusInd Bank with a target of Rs 2070. Credit cost aided by contingent draw downs.
Retail deposits are growing well and there is no direction to manage LDR. Retail slippages are higher, partly due to Chennai floods.
Higher new NPLs were a tad disappointing which rose in CV loans mostly due to the Chennai floods & can be recouped.
“We see 20% profit CAGR in FY24-26,” said the note.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
