Stock brokerages, including LKP Securities, Motilal Oswal, Religare Broking and ICICI Securities, have come out with research reports on select stocks namely IndusInd Bank, Havells India, GAIL, LTIMindtree. Here's what brokerages said about these counters
LKP Securities has a ‘Buy’ rating on IndusInd Bank stock with a target of Rs 1,794 per share. According to the brokerage, the lender has made adequate provisioning against the potential stress from spike in MFI and CV non-performing assets. However, the delinquencies from vehicles segment and credit cost in next quarters will be keenly watched
“Core operating performance of IndusInd Bank remains healthy. The deposit growth compared to advances in coming quarters will be a key monitorable. Nevertheless, a higher contingent buffer is likely to safeguard the bank from credit disruption from various restructured schemes,” said LKP Securities in its report
Domestic brokerage Motilal Oswal has a ‘Buy’ rating on Havells India stock with a target price of Rs 1,580 per share. According to the brokerage, the company’s sustained investments toward in-house manufacturing, research & development, and brand building give it a competitive edge over its peers
Analysts at Motilal Oswal believe that Havells India has the potential to maintain premium valuations given the 29% earnings CAGR over FY23-25E, and strong return ratios (RoE/ROCE of 21%/20% and RoIC of 30% in FY25E)
Brokerage firm Religare Broking has a ‘buy’ rating on GAIL India stock with a target price of Rs 126 per share. Gail has been maintaining uptrend since 2004 however the pace of rise is gradual, with intermediate corrective phases, the brokerage noted
According to analysts at Religare Broking, GAIL has been trading in a consolidation band of 80-110 levels for the last two years and currently hovering around the upper band of the same. “Indications are in the favour of a breakout soon. We thus recommend to accumulate in the 110-111 range,” they said
Brokerage firm ICICI Securities has a ‘ADD’ rating on LTIMindtree stock with a target price of Rs 5,325 per share. The brokerage expects EBIT margin to expand by 230bps over FY23-26E on the back of merger-related synergies ensuring 19% EBIT CAGR over this period
Strong orderbook, deal pipeline, a few large deal announcements and the expectation of a revival in broader tech demand in H2FY24E make analysts at ICICI Securities forecast 1.7%, 4.5%, and 4.3% QoQ growth for LTIM in CC terms for Q2, Q3, and Q4 FY24E respectively
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