CSLA has maintained its sell rating on
as the growth has slowed from pre-Covid levels. It has a target price of Rs 5,000 on the stock, signalling more than 13 per cent downside from current levels.
CLSA said that the customer acquisition is strong but AUM growth was in-line with the expectations and valuations are back to pre-Covid multiples. “Good performance seen on public deposits but NCDs are negligible.”
In its quarterly update, Bajaj Finance said that new loans booked during Q1FY23 were 61 per cent higher to 7.4 million as against 4.6 million in the same period previous year. Company claimed to have a strong liquidity position.
On the other hand, Morgan Stanley is positive on the banking sector ahead of earnings as it believes that loan growth has been strong and asset quality is also holding up well. It expects lenders to report strong earnings in the June quarter.
“NIMs would bottom or start improving at retail funded banks and investors would be focusing on assessing the potential lagged impact,” it said citing , and as its preferred picks.
Credit Suisse remains bullish on with an ‘outperform’ rating and a target price of Rs 4,350, which is 14 per cent above its previous close. It is positive on lower funding in the sector, likely prompting reduced cash burn.
E-pharmacy app download momentum is slowing down but Apollo should benefit from evolving dynamics, the brokerage noted. “The company has not changed its strategy and kept its discount unchanged at 18 per cent.”
The brokerage is also bullish on
() as the company continued its strong performance. Credit Suisse has a target of Rs 250 on the stock with an ‘outperform’ rating.
It is better to track e-auction pricing than premium and expect the Street to update estimates, the brokerage said. “CIL is maintaining its health dividend yield,” it added.
Another international broking firm Citi has maintained its buy rating on FMCG major
with a target price of Rs 595, hinting at a 21 per cent upside in the stock. It is expecting a steady business outlook.
Citi said that Marico’s gross margin remains strong but the demand in India continues to soften. The brokerage expects numbers to be aided by the company’s go-to-market initiative, and the company is also foraying into food and digital-first brands.
The FMCG major reported a volume decline ‘in mid-single digits’ in its India business as the sector continued to witness ‘tepid demand’ amid rising retail inflation.
Current trends indicate that consumers ‘titrated consumption’ in some nonessential categories and either downtraded among brands or switched to smaller packs in the essential categories, said Marico.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
