Shree Cement | Nomura has maintained a ‘buy’ rating on Shree Cement with a target of ₹33,400 per share. It says the company witnessed another quarter of industry-leading performance.Berger Paints | HSBC has maintained a ‘buy’ rating on Berger Paints with a target of ₹600 per share. It says the company witnessed a strong 13.9% volume growth in the fourth quarter compared to the previous year.Colgate | Jefferies has maintained a ‘buy’ rating on Colgate with a target of ₹3,020 per share. It says the company reported a sold fourth quarter, showcasing DD topline growth and ATH margin.Bharti Airtel | HSBC has maintained a ‘hold’ rating on Bharti Airtel with a target of ₹1,220 per share. It says the company’s fourth quarter results were in line and its growth drivers are intact.Apollo Tyres | Morgan Stanley has maintained an ‘equal-weight’ rating on Apollo Tyres with a target of ₹472 per share. It says the company’s focus on sustainable and profitable growth helped improve its FCF and RoCE profile. Titagarh | Morgan Stanley has maintained an ‘overweight’ rating on Titagarh with a target of ₹1,285 per share. It says the company’s growth in the freight segment revenues was steadyLIC Housing Finance | Morgan Stanley has maintained an ‘equal-weight’ rating on LIC Housing FInance with a target of ₹585 per share. It says the company’s higher NIM was offset by higher operating costs and credit costs.Adani Ports | Morgan Stanley has maintained an ‘overweight’ rating on Adani Ports with a target of ₹1,517 per share. It says the company’s FY29 targeted growth is ahead of estimates across both its ports and logistics businesses,
Siemens | Jefferies has maintained a ‘buy’ rating on Siemens with a target of ₹8,000 per share. It says going forward, it sees the company benefiting from sizeable power transmission capex ordering.PVR Inox | HSBC has downgraded its rating on PVR Inox with a target of ₹1,520 per share. It says the company reported its weakest quarter of FY24 and it was below consensus. It adds subdued occupancy rate weighed on its margin.Bharti Airtel | Morgan Stanley has maintained an ‘overweight’ rating on Bharti Airtel with a target of ₹1,330 per share. It says the company’s India mobile business beat compared to its estimates on revenues and EBITDA. Shree Cements | Nomura has maintained a ‘buy’ rating on Shree Cements with a target of ₹33,400 per share. It says the company beat all expectations and recorded its highest EBITDA/tonne again.Shree Cements | Morgan Stanley has maintained an ‘overweight’ rating on Shree Cements with a target of ₹30,000 per share. It says the volumes were in-line but realisations were better, driving revenue beat.Shree Cements | Jefferies has maintained a ‘hold’ rating on Shree Cements with a target of ₹29,500 per share. It says the company’s volumes grew 8% compared to the last year, and the growth was tad below industry growth.
Jindal Steel | CLSA has maintained an ‘underperform’ rating on Jindal Steel with a target of ₹940 per share. It says the fourth quarter was in line with estimates, and debt rises on higher capex.Jindal Steel | Morgan Stanley has maintained an ‘underweight’ rating with a target of ₹655 per share. It says the company’s fourth quarter EBITDA beat estimates.AB Capital | Jefferies has maintained a ‘buy’ rating on AB Capital with a target of ₹255 per share. It says the company’s consolidated PAT was 6% ahead of estimates.Zomato | CLSA has maintained a ‘buy’ rating on Zomato with a target of ₹248 per share. It says the company has a clear focus on quick commerce growth.DLF | Morgan Stanley has maintained an ‘equal-weight’ rating on DLF with a target of ₹900 per share. It says the company’s fourth qaurter pre-sales were lower than expected and its FY25 outlook looks strong.Varun Beverages | Morgan Stanley has maintained an ‘overweight’ rating on Varun Beverages with a target of ₹1,701 per share. It says the management is optimistic on near-term demand trends in India.UPL | Jefferies has maintained a ‘buy’ rating on UPL with a target of ₹610 per share. It says the company posted a profit in the fourth quarter when a loss was estimated.HDFC Life | Jefferies has maintained a ‘buy’ rating on HDFC Life with a target of ₹750 per share. It says the management expects 15-16% growth in premiums with stable margin in FY25.
Eicher Motors | JPMorgan has maintained a ‘neutral’ rating on Eicher Motors with a target of ₹4,230. It said the company missed its fourth quarter expectations while being broadly in-lineTata Motors | JPMorgan has maintained an ‘overweight’ rating on Tata Motors with a target of ₹1,115 per share. It says the fourth quarter earnings came in line, but FCG beat expectations as well as guidance.Bank of India | Morgan Stanley has maintained an ‘underweight’ rating on Bank of India with a target of ₹124 per share. It says it expects the stock to be weak in the near-term.Cipla | JPMorgan has maintained an ‘overweight’ rating on Cipla with a target of ₹1,540 per share. It says the company has a healthy oulook and encouraging margin guidance. Bank of Baroda | Morgan Stanley has maintained an ‘equal-weight’ rating on Bank of Baroda with a target of ₹280 per share. It says it expects the stock recovery to continue given relatively ebtter valuation.
SBI | Kotak Institutional Equities has maintained a ‘buy’ rating on SBI with a target of ₹950 per share. It says the stock is a top pick but it doesn’t see a sharp outperformance from current levels.SBI | Bernstein has maintained ‘market performance’ for SBI with a target of ₹780 per share. It sayys the lender reported a high return on assets and multiple surprises.BPCL | Citi has maintained a ‘buy’ rating on BPCL at a target of ₹760 per share. It says the company’s pre-tax profit was 20% below estimates.SRF | Morgan stanley has maintained an ‘overweight’ rating on SRF with a target of ₹2,555 per share. It says the company has pointed to a gradual improvement over the course of the present fiscal.Asian Paints | Citi has maintained a ‘sell’ rating on Asian Paints with a target of ₹2,600 per share. It says the company’s price cut of 2.4% in the fourth quarter, bundled with downtrading, led to revenue decline compared to the previous year.
Hero MotoCorp | Jefferies has maintained a ‘buy’ rating on Hero MotoCorp with a target of ₹5,650 per share. It says the company’s fourth quarter EBITDA grew 25% from last year and was 4% above estimates.TVS Motor | Jefferies has maintained a ‘buy’ rating on TVS Motor with a target of ₹2,525 per share. It believes the company will be the key beneficiary of two-wheeler demand revival in domestic and export markets.TVS Motor | Bernstein has maintained a ‘market perform’ rating on TVS Motor with a target of ₹2,050 per share. It says the company’s fourth quarter results were primarily on expected lines with volume growth being the key driverL&T | CLSA has maintained a ‘buy’ rating on L&T with a target of ₹4,151 per share. It says the company has an improving outlook. It adds that the company has a $146 billion pipeline, which is up 24% from last year, despite a likely slowdown in West Asia capex.
Dr Reddy’s Laboratories | Nomura has maintained a ‘netural rating on Dr Reddy’s Laboratories with a target of ₹6,499 per share. It says the company reported a strong fourth quarter.SRF | Morgan Stanley has maintained an ‘overweight’ rating on SRF with a target of ₹2,557 per share. It says the company witnessed a quarter-on-quarter increase in depreciation and interest expense, reflecting commissioning of key projects.Max FInancial Services | Jefferies has maintained a ‘buy’ rating on Max Financial Services with a target of ₹1,220 per share. It says the company’s margin was in-line with guidance, despite dilution in mix.IGL | Jefferies has maintained a ‘hold’ rating on IGL with a target of ₹450 per share. It says the company’s fourth quarter EBITDA missed estimates and consensus by 18% and 14%, respectively.Navin Fluorine | Jefferies has maintained a ‘hold’ rating on Navin Fluorine with a target of ₹3,070 per share. It says the company reported 11% EBITDA beat on estimates in its fourth quarter results.Voltas | Nomura has maintained a ‘buy’ rating on Voltas with a target of ₹1,450 per share. It says the company’s project losses remain high.Macquarie says project finance heads beleive RBI rules are quite onerous and banks will significantly scale back project finance credit.
M&M Financial Services | Citi has maintained a ‘neutra;’ rating on M&M Financial Services with a target of ₹290 per share. The brokerage says the company’s FY25 guidance has been trimmed to the former’s conservative expectations.Marico | Citi has maintained a ‘buy’ rating on Marico with a target of ₹610 per share. It says the company’s fourth quarter is in line, and its distribution initiatives, pricing action will drive growth.Hindalco | Jefferies has maintained a ‘buy’ rating on Hindalco with a target of ₹810 per share. It says the company’s fourth quarter EBITDA rose 28% from the previous year and 13% from the previous quarter, which was in-line with estimates.Godrej Consumer Products | Jefferies has maintained a ‘buy’ rating on Gujarat Gas with a target of ₹1,520 per share. It says the company in its quarterly earnings reported double-digit volume growth in emerging categories.Gujgarat Gas | Citi has maintained a ‘sell’ rating on Gujarat Gas with a target of ₹450 per share. It says it believes the fourth quarter represents a near-term peak in earnings for the company.
Britannia: Morgan Stanley has maintained an ‘overweight’ rating on Britannia with a target of ₹5,243 per share. It says the company fourth quarter revenue was up 8% on a five-year CAGR basis, similar to the second quarter.Godrej Properties | JPMorgan has upgraded its rating on Godrej Properties to ‘overweight’ with a target of ₹3,100 per share. It says the upgrade comes after the company’s FY24 pre=sales beat.Kotak Mahindra Bank | JPMorgan has upgraded its rating on Kotak Mahindra Bank to ‘overweight’ with a target of ₹2,070 per share. It says the upgrade follows supportive valutation post the recent RBI actions on the lender and the senior management department.Titan | Jefferies has maintained a ‘hold’ rating on Titan with a target of ₹3,500 per share. it says the company missed fourth quarter estimates mainly because of weak margin in the jewellery segment.Titan | Goldman Sachs has maintained a ‘buy’ rating on Titan with a target of ₹3,950 per share. It says the company’s fourth quarter revenue growth remains strong, but competitive intensity will cap margin.
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.
