Delhivery share: Goldman Sachs initiates coverage on Delhivery; Jefferies bearish on metal stocks

Goldman Sachs set a target price of Rs 540 on Delhivery as it initiated coverage on the logistics startup with a ‘neutral’ rating. It sees Delhivery as a profitable e-commerce growth proxy with scale benefits.

It said the company would reap higher margins from increased outsourcing of first and last-mile operations.

Another global brokerage firm Jefferies is majorly bearish on the metal sector. Indian metal stocks have underperformed Nifty50 by 12-34 per cent in June 2021 quarter.

It added that it is still early to turn constructive on the sectors where P/B valuations remain above the historical troughs.

Jefferies has a hold rating on

and with a target price of Rs 830 and Rs 310, respectively. It has an underperform rating on .

To reduce its carbon footprint, JSW Steel has earmarked a sum of Rs 10,000 crore to increase the use of renewable energy to replace thermal power and other green initiatives. Various steel makers use coal to generate thermal power.

After a strong operational update from

, brokerage firm Morgan Stanley remained ‘overweight’ on the counter with a target price of Rs 4,332 as the company reported the highest absolute revenue in the June 2022 quarter.

“Revenue increased 19 per cent on a 3-year CAGR basis,” the brokerage added. The company will announce its earnings for the March 2021 quarter on Saturday, July 9.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)