Kotak Institutional Equities based on strong discounted cash flows and the company’s expertise in high entry barrier fermentation active pharmaceutical ingredients (API) segment sees a 15 percent upside potential from the current price levels.
Higher crude oil prices accompanied by flat retail prices have meant that the petrol/ diesel gross marketing margins are down to almost break-even levels.
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company s sharp downward revision in its growth guidance took most brokerages by surprise.
In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say.
Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
Puravankara has registered highest-ever sale value of Rs 1,126 crore in any quarter. Sales value zoomed 119 percent YoY and 12 percent QoQ to Rs 1,126 crore in Q1 FY24.