Stock brokerages including Religare Broking, Axis Securities, Prabhudas Lilladher, and Motilal Oswal have come out with research reports on select stocks namely Axis Bank, Bajaj Finance, Cipla, and Kajaria Ceramics. Here's what brokerages said about these counters
Religare Broking has a ‘Buy’ rating on Axis Bank stock with a target of Rs 1,167 per share. The brokerage remains positive on the bank on the back of its positive growth outlook, growing advances, stable margins, and improving asset quality
“We believe that the premiumization of deposits will be one the key drivers of the deposit’s growth. Moderation in cost of deposits will further lead to improving the margins, thus driving growth,” said Religare Broking on Axis Bank in its report
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Domestic brokerage Axis Securities has a ‘Buy’ rating on Bajaj Finance stock with a target price of Rs 8,800 per share. According to the brokerage, Bajaj Finance remains well-poised to deliver strong growth primarily driven by robust customer additions, the introduction of new loan products and increasing cross-sell amongst its existing customer base
Analysts at Axis Securities expect Bajaj Finance to deliver a strong AUM, NII, and PAT growth of 28%, 25%, and 25% CAGR respectively over FY23-25E. RoA and RoE delivery is expected to remain in line with the management’s guidance of 4.6%-4.7% and 23%-24% respectively over the medium term, it noted
Prabhudas Lilladher has a ‘buy’ rating on Cipla stock with a target price of Rs 1,220 per share. While the brokerage is positive on the stock, it stated that any further FDA escalation to the Indore unit and erosion in key products in the US will be key risks to their buy call
“We continue to remain positive on growth across key segments including India and US given strong traction in respiratory and other portfolio; potential growth of +10% in domestic formulations, and sustainability of current US revs, backed by prospective key launches over FY25,” said Prabhudas Lilladher on Cipla
Brokerage firm Motilal Oswal has a ‘Buy’ rating on Kajaria Ceramics stock with a target price of Rs 1,580 per share. The brokerage believes that 33% earnings CAGR over FY23-25E, strong return ratios, and healthy balance sheet will help the company maintain its premium multiples
Tiles exports have seen green shoots with around 23% YoY growth in 1QFY24. "Higher exports should ease pressure in the domestic markets and we believe KJC, being the leading domestic player, should benefit," said Motilal Oswal analysts. The brokerage expects 33% earnings CAGR over FY23-25 and project improvement in return ratios (RoE to be at 22% in FY25E v/s 15% in FY23)
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