Domestic benchmarks continued to fall for the fourth straight session on October 23 (Monday). The 30-share BSE Sensex pack slipped 825 points to close at 64,571, while the broader NSE Nifty index lost 261 points to settle at 19,625.
For October 25 (Wednesday), share market analysts from a few brokerages have assigned 'Buy' calls on JSW Steel, Prestige Estates, Laurus Labs, Kotak Mahindra Bank among others. Check share price targets, analysis, investment rationale and other crucial details about these fundamental bets.
Analysts at JM Financial have maintained a 'Buy' call on JSW Steel shares with a target price of Rs 830 post Q2 earnings against the earlier Rs 800. “JSW continues to aggressively add capacity across facilities - a) Vijaynagar expansion to be completed by FY24 end b) BPSL Phase-II expansion (from 3.5mtpa to 5mtpa) is expected to be completed by FY24. Strong growth pipeline and increased focus on cost efficiency augurs well for the company. Maintain BUY,” said the brokerage.
Nuvama Institutional Equities has initiated coverage on the realty stock. “While a supportive housing cycle shall supply growth capital to scale up the annuity business, market concerns about debt trajectory (with Rs 161bn capex pending) would abate only after significant leasing in office projects. Initiate at ‘BUY’ with an SoTP-based target price of Rs 917 (on a par with NAV). Slowdown in office leasing remains a key risk,” said the brokerage.
Choice Broking is bullish on the pharma stock. "FY25 remains a critical year of recovery for the company and expect to show gradual improvement on Revenue / Margin / PAT front. We introduce and roll forward our valuation to FY26. We value the stock at 22x Mar-26E EPS to arrive at a target price of INR 437 with ADD rating," said Choice Broking.
JM Financial is bullish on the stock and expects it to hit the target of Rs 950 post Q2 earnings "We expect Just Dial’s operating performance to remain strong in the near-medium term driven by a) growing management focus on monetisation of B2B listings and b) margins moving towards to pre-Covid levels. As valuations are also compelling at 10.5x/8.5x FY25/26 ex-cash EPS, we believe the stock is poised for a sharp near-term up-move," said the brokerage.
Religare Broking has a positive stance on the lender post Q2 earnings. “The bank’s subsidiaries continue to add significant value and are well placed for growth. We estimate NII/PPOP/PAT to grow at a CAGR of 26.7%/31.2%/30.8% over FY23 -25E. We maintain Buy on the bank with a target price of Rs 2,070 valuing the standalone bank at 2.7x of its FY25E Adj. BV,” said the brokerage.
Brokerage Way2Wealth has maintained its accumulate stance on the stock of the electric goods maker. “Revival in fans business is likely in 2HFY24 as inventory of non-rated fans is almost over in trade. There is no sign of a demand slowdown yet. A concern, though, is the sustainability of such high levels of public and private sector capex activity, amid the approaching elections, fiscal pressures on the government and global economic pressures, especially on industrial sectors such as chemicals. Hence, we continue to maintain our ACCUMULATE stance on the stock (P/E – 40.8x FY25E with EPS of Rs 126.7),” said brokerage.
Post Q2 earnings, Religare Broking is positive on the banking stock. “We expect NII/PPOP/PAT to grow at 18%/19%/23% CAGR over FY23-25E. We maintain Buy on ICICI Bank with a SOTP-based target price of Rs 1,252 valuing the standalone bank at 2.7x of its FY25E adjusted book value,” said the brokerage.
Brokerage Way2Wealth is positive on the electrical goods maker and has assigned an accumulate stance on the stock. "The company continues to be a prominent player with a presence across the spectrum of the consumer durables segment. Additionally, a strong balance sheet allows it to nurture promising segments (such as Lloyd) during loss-making phases. Management commentary points to a stronger performance in the core product portfolio in coming quarters, prompting us to remain positive on the company and continue with our ACCUMULATE stance on the stock with fair value of`Rs 1,360-1,380 trading at P/E 48.2x FY25E EPS of `26.7," said Way2Wealth.
"Pessimism persisted in the Indian bourses and bears tightened their grip by breaching all the key support levels to end the session at 19,281.75 with a loss of 260.90 points. Relentless selling was seen across the board with media and PSU banking sectors having corrected the most. A freefall was observed in the Mid and Smallcap stocks which resulted in the underperformance of the broader markets. Head and Shoulder pattern breakdown was seen in the Nifty50's daily chart which indicates that weakness will continue going forward as well," said Aditya Gaggar Director of Progressive Shares
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