We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on LIC Housing Finance: Buy| Target Rs 550
CLSA maintained its buy rating on LIC Housing Finance with a target price of Rs 550. The net interest margins (NIMs) expanded 50 bps quarter-on-quarter (QoQ) to 2.9%, its highest in 24 quarters.
“Strong NIM in 4QFY23 led to a PAT (net profit) beat of 27% versus estimates. Home loan disbursements remain muted by asset quality improved due to seasonality,” it said.
Jefferies on IOC: Hold| Target Rs 85
Jefferies maintained its hold rating on IOC with a target price of Rs 85 post Q4 results. “The company reported a strong refining performance in the March quarter,” it said.
“Refining weakness was transitory and there are some early signs of recovery. Marketing margins are unsustainable,” it added. The global investment bank expects some price cuts as elections approach.
Morgan Stanley on Bharti Airtel: Overweight| Target Rs 860
Morgan Stanley remained overweight on Bharti Airtel with a target price of Rs 860 post March quarter results.
“The company reported a slight miss on India EBITDA. Continuation of a strong traction in 4G/postpaid subscriber base,” it said.
“Incremental margins remain resilient in the India wireless business and operating cash flow (OCF) generation,” it added.
CLSA on Bank of Baroda: Buy| Target Rs 225
CLSA maintained its buy rating on Bank of Baroda with a target price of Rs 225 post Q4 results. “Expected Credit Loss (ECL) requirements comforting – negligible net slippages are likely to continue,” it said
“High share of MCLR loans should benefit PSU bank net interest margins (NIMs). The overall growth remains strong, which is a positive sign,” it said.
CLSA on PVR: Buy| Target Rs 2015
CLSA maintained its buy rating on PVR with a target price of Rs 2015 post March quarter results. “Hindi movie content is under-delivering,” it said.
The global investment bank slashed the forecast to the lower end of the guidance.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
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