Stock brokerages such as BofA Securities, Kotak Institutional Equities, Nirmal Bang, and Motilal Oswal, have come out with research reports on select stocks namely Paytm, HDFC Life Insurance, Bajaj Electricals, Jindal Steel & Power. Here's what brokerages said about these counters
Foreign brokerage Bank of America (BofA) Securities has revised upward Paytm stock to ‘Buy’ rating. The brokerage has also revised Paytm share price target upwards to Rs 1,020 apiece from Rs 885 earlier, citing favourable risk-reward
Analysts at BofA Securities expect Paytm’s momentum in high-margin lending and Soundbox business to remain good for at least next 3-4 quarters and witness upside risks to consensus estimates. Given the rising contribution from high-margin businesses and cost control initiatives, it expects Paytm's margin improvement to happen at a faster than earlier expected pace
Kotak Institutional Equities has a ‘Buy’ rating on HDFC Life Insurance stock with a fair value of Rs 420 per share. The brokerage finds the company investing aptly to grow lower ticket business and sustain growth in high-margin retail term. “It seems firmly on track to deliver mid-teen (ex-one off) APE growth for the year,” it said
According to analysts at Kotak Institutional Equities, HDFC Life is preparing for a new regime of lower tax benefits, and shift to lower tickets. Despite the Street’s concerns on the business trajectory after the budget, the brokerage expects HDFC Life to deliver healthy growth in FY2024E. The stock remains among their favoured life insurance picks
Nirmal Bang has a ‘Accumulate’ rating on Bajaj Electricals shares with a target price of Rs 1,220. The brokerage continues to believe that the corporate restructuring along with the brand premiumisation strategy and demerger of the EPC business will result in value unlocking for all the stakeholders, with better de-risking
According to analysts at Nirmal Bang, Bajaj Electricals, post strengthening its balance sheet, achieving debt-free status, and simplifying its corporate structure, is now focusing on prioritising R&D and adding new SKUs in order to address the earlier untapped market, thereby gaining market share. It is also consciously working towards brand premiumisation through the launch of premium brands
Motilal Oswal has a ‘Buy’ call on Jindal Steel & Power stock with a target price of Rs 720 per share. According to the brokerage, JSPL is all set to capture rising domestic steel demand amid the rapid expansion in infrastructure, railways, housing and construction
Analysts at Motilal Oswal expect demand to pick up as customers rush to stock up inventory before the monsoons. “Demand is relatively stronger in 2H. Price improvements should also help JSPL garner better margins,” they said. However, a delay in the commissioning of the Angul plant and coal mines may put pressure on the company
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