Check out the latest brokerage calls and analyst comments on the stocks and sectors in action today. Our coverage includes Zomato, Bajaj Finance, IndusInd Bank and more.
UBS On Zomato
Buy Call, Target `250/Sh
Co Confirmed Discussions To Acquire Paytm’s Ticketing Business
Acquisition Of Paytm’s Ticketing Business Fits In Well With Co’s ‘Going-Out’ Offering
Back-of-the-envelope Calculation Suggests Reasonable Valuations
Bernstein On Bajaj Fin
Initiate Market Perform, Target `6,800/Sh
See A Still Healthy Growth Ahead
There Is Room For Consensus Earnings Cuts Given Several Headwinds
Challenges Include A Sector-wide Trend Of Slowdown In Consumption Credit
Challenges Include Already High Scale Of BAF That Limits Outperformance Vs Sector
Challenges Include Increased Competitive Intensity
Expect An Earnings CAGR Of 21% (FY24-26) And Value BAF On PE (24x FY25E EPS)
Bernstein On IndusInd Bank
Initiate Outperform Call, Target `1,800/Sh
See Co As Quasi-NBFC Given Its NBFC-Like Loan Book Composition & Weak Deposit Franchise
Bank Is Well Positioned For A Potential Rate Easing Cycle
Co Has High Exposure To Attractive Segments (Commercial Vehicles, Microfinance)
Between FY24-26, Expect Co’s RoE To Be 15-16%
Bernstein On Muthoot Finance
Initiate Outperform Call, Target `2,000/Sh
See A Long & Shiny Road Ahead For Gold Loans
Unique Segment In India Arising From Indian Households’ Insatiable Love For Gold
Co Is Best Play In The Segment
Expect 19?rnings CAGR (FY24-26) & Value It On PE (15x FY25 EPS)
CLSA On Varun Beverages
Buy Call, Target Raised To `1,977/Sh
Increased Affordability, New Territories And Products To Sustain Growth
Improved Affordability Compared With Tea, Coffee And Fruit Juices
Deeper Distribution With Affordable Price Points For New Products
Acquisitions Keep The Growth Engine Humming
Raise Target Multiple From 48x To 59x
MS On Infrastructure
India's Infrastructure Has Materially Improved In Recent Years
There Is Significant Scope For Further Improvements Through Recent Government Initiatives
Efficient Infrastructure Can Lower Logistical Costs & Improve India's Mfg Competitiveness
Beneficiaries Fall Into Three Buckets: Enablers, Developers (Asset Owners), And Adopters
Key Stocks To Play This Theme Includes L&T, NTPC, Titagarh Rail Systems, & UltraTech Cement
MS On Crompton Cons
Equal-Weight Call, Target `323/Sh
Management Expects The Electrical Consumer Durables Industry To Grow In 7-9% In FY25
Consumer Preferences Are Shifting With Higher Demand For Premium, Energy-Efficient
Consumer Preferences Are Shifting With Higher Demand For Technology Advanced Products
Crompton 2.0 To Continue To Focus On Growth While Maintaining Margin
0 Comment