Kotak Mahindra Bank, Havells and more: Thursday’s top brokerage calls
Havells | CLSA has downgraded its rating on Havells with a target of ₹1,560 per share. It says the company’s fourth quarter was ahead of estimates on better margin, while its topline was lower.Havells | UBS has maintained a ‘buy’ rating on Havells with a target of ₹2,040 per share. It says the company’s fourth quarter profitability is back and sustainability is key.Kotak Mahindra Bank | Jefferies has maintained a ‘hold’ rating on Kotak Mahindra Bank with a target of ₹1,970 per share. it says it is important to watch out for more senior and mid-management exits, on the back of resignation of joint MD KVS Manian.M&M | DAM Capital has upgraded its rating on M&M to ‘buy’ with a target of ₹2,550 per share. It says the company’s stellar SUV perfromance and tractor recovery warrants valuation expansion.Kotak Mahindra Bank | Nuvama has downgraded its rating on Kotak Mahindra Bank to ‘reduce’ with a target of ₹1,530 per share. It says the downgrade is due to back-to-back negatives for the lender.
