Mahindra and Mahindra is expected to report healthy growth in its revenues for the first quarter ended June 2024, driven by tractor and automotive segments. Meanwhile, profits are likely to be muted. Revenue from operations may increase 16% year-on-year, according to an average estimate of four brokerages, while net profit is likely to be flat … Read more
HDFC Bank surged nearly 3% to Rs 1,650.7 in Monday’s trade on BSE after the country’s top private lender reported a standalone net profit of Rs 16,175 crore for the quarter ended June 30, 2024, which was up by 35% over Rs 11,952 crore reported by the bank in the year-ago period. However, it was … Read more
FMCG major ITC left investors little to chew on in its March quarter results with the shares falling nearly 1% to Rs 437.85 on BSE during the day but brokerages have raised target prices going up to Rs 540. Global brokerage firm Citi, which has a buy call on ITC, raised its target price to … Read more
While calling Vodafone Idea a high-risk, high-reward opportunity, domestic brokerage Kotak Institutional Equities on Thursday maintained a sell call on the telecom operator but said that in the bull case scenario, it can rally up to Rs 23. “In our bull case, we assume a sharper 10% 10-year ARPU CAGR (versus our base case estimate … Read more
Domestic brokerage Kotak Institutional Equities has initiated coverage on Mamaearth’s parent company, Honasa Consumer with an ‘Add’ recommendation for a target price of Rs 450, an upside potential of 4% from the current levels. The brokerage states that it likes Honasa’s brand seeding/scaling and execution speed. A steady increase in repeat offtakes (conversion of experimentative … Read more
Shares of multibagger HDFC Asset Management Company (AMC) have been downgraded by Kotak Institutional Equities despite growth tailwinds remaining the strongest. The company’s outperformance over its peers is fully priced in at the current valuations, Kotak said in a note as it slashed the stock’s fair value to Rs 3,750, a 1.5% climbdown from Tuesday’s … Read more
Shares of NMDC fell over 4% on Thursday to the day’s low of Rs 197.15 on the NSE after Kotak Institutional Equities warned investors of sharp price cuts and earnings downgrade going ahead. The domestic brokerage trimmed its fair value to Rs 195 from an earlier Rs 205 while retaining a ‘Sell’ view. The valuations … Read more
Auto components manufacturers Schaeffler India, Timken India and SKF India have been upgraded to ‘Add’ from an earlier ‘Sell’ rating by Kotak Institutional Equities, which sees good entry points in these midcap stocks following a 17-22% correction over the past 6 months. While Schaeffler has fallen by 17%, Timken and SKF’s declines stand at 20% … Read more
As the NPA levels of Indian banks are at multi-year low levels, billionaire banker Uday Kotak believes that most financial institutions now have a clean white shirt after a difficult decade 2009-19. While speaking at the Chasing Growth 2024 Investor Conference organised by Kotak Institutional Equities in Mumbai on Monday, Kotak told investors that the … Read more
MUMBAI: There is very little value in most parts of the equity market after the recent run-up seen in shares, said Kotak Institutional Equities, advising investors to expect low returns in the election-bound 2024. The brokerage has been cautious on the mid- and small-cap space for the last three to four months, and following the … Read more
