Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Adani Ports, Asian Paints, Bharti Airtel, HCLTech, and more.
MGL
UBS On MGL
Buy Call, Target `1,600/Sh
Investing In Infrastructure To Drive Volume Growth
To Benefit From Potential Inclusion Of Natural Gas In GST
LNG In Transportation Could Scale Up In Coming Years
Foraying Into Electric Mobility
MOSL On MGL
Buy Call, Target `1,565/Sh
Mgmt Reiterates An Overall 6-7% Volume Growth Target
Reiterates At Least 10% Volume Growth From The Recently Acquired UEPL
Current APM Gas Allocation Stands At ~70%
APM Gas Shortfall Is Being Compensated By Additional HPHT Volumes `1,000 Cr Of Capex That Was Guided For FY25, Of Which `200 Cr Will Be Allocated To UEPL
MS on Adani Ports
Overweight Call, Target `1,517/Sh
Kolkata Port: Ops & Maintenance Contract Win
Large Hinterland And Regular Service Calls From Some South East Asian Ports
Co Sees Synergies With Its Ports Assets At Colombo And Vizhinjam
MS On Kaynes Tech
Overweight Call, Target `3,845/Sh
FY24 Performance Is Testimony Of Its Execution Prowess In Its Core EMS Biz
Sector Tailwinds & Robust Backlog To Drive Sustainable Growth In Core Segment
New Biz Of OSAT & Bare Board PCB Manufacturing To Enable Backward Integration
Revenue Target Of $1 Bn By FY28; 75% To Be Accounted By Core EMS
Margins Are Industry Leading, To Further Expand By 100 bps In FY25
JPMorgan On Asian Paints
Neutral Call, Target `2,870/Sh
Reiterated Sustaining Double-digit Volume Growth & Margin Of 18-20%
Price/Mix Weakness Will Sustain Near-Term
Further Pricing Interventions Will Depend On RM Inflation Trends
Despite Rising Competitive Intensity In Sector, APNT Is Not Unduly Worried
Co Is Focussed On Strengthening Its Moats Via Ensuring Effective Distribution Scale-Up
Focussed On Relevant Innovation & Enhanced Play In Relatively Fast-Paced B2B/Proj Seg
Wider Foray Into Affordable Paints Segment Is Off To An Encouraging Start
Home Décor Foray Is Strategic, Will Help Widen Customer Reach & Strengthen Brand Loyalty
CLSA On Bharti Airtel
Buy Call, Target `1,540/Sh
Co Has Entered $100 Bn Market Cap Club Led By The Success Of Its Mobile Biz
India Now Has Four Companies With A Market Cap Of Over $100 Bn
Strong India Mobile Growth Backed By Mgmt Execution Driving This Mega Corp
Market Cap Barely Moved For An Entire Decade, Has Expanded Since 2017 3.3x
Co’s 3 Drivers Are High-Growth Scalable Biz, Strong Mgmt & Global Competitive Edge
Nomura On Ceat
Neutral Call, Target `2,820/Sh
Focus On Market Share Gains & Higher Exports Likely To Drive Growth
Targets To Become The No. 2 Player In Passenger Car Radial Segment By End-FY25
According To Mgmt, Mkt Shr Rise Would Be Led By A Strong Network Push
Mkt Shr Rise Would Be Led By Better Dealer Profitability And Pdt Innovation
Maintains That >25% Of Its Rev Will Come From Exports In FY26E
Nomura On HCLTech
Neutral Call, Target `1,400/Sh
FY25 Revenue Growth Guidance Assumes No Improvement In Macro Vs FY24
Margin Improvement Towards Aspiration Of 19-20% Needs Revenue Growth Pickup
Recent Organizational Changes Aimed At Integrating Go-To-Market
Gen AI, Pilots Continue At Client Ends, Still Time Before Large Work Emerges Here
Disciplined Capital Allocation Policy To Continue
Stable Senior Leadership Helping Drive Growth
MS On OMCs
Integrated Margin Are Tracking Approximately 20-30?ove Midcycle
Integrated Margin Should Lead To Re-Start Of Earnings Upgrade Cycle
Refining Margins Are Recovering As Well
Potential Re-Start Of Daily Pricing Mechanism Provides Multiple Upside
CLSA On MFIsAnalysis Indicates CA Grameen & Fusion Have Lowest Lending Rates Among Top Players
Some Banks & Small Finance Banks Are On The Upper Range
Since RBI’s Harmonisation Regulation, Spreads For Both Have Expanded By About 2%
Some Other MFIs Have Seen 3-4 ppt Increases
Think RBI Guv’s Commentary On High MFI Lending Rate Is More Concerning For Other Players
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