Nifty needs to cross over 22,100 to witness a clear rally towards the all-time high of 22,525, says Rupak De, Senior Technical Analyst, LKP Securities.
Brokerage firm CLSA has a buy rating on ITC, Nomura recommended a buy call on Bajaj Finance, CLSA maintained a sell rating on Jubilant FoodWorks and Macquarie has a neutral rating on Godrej Consumer.
Nomura India values Bajaj Finance at Rs 7,200 per share using Residual Income model, implying 4.8 times FY25F BVPS. In the case of Bajaj Finserv, the brokerage sees the stock at Rs 1,850.
Slowdown in unsecured loans, increased competition from banks, rising cost of funds and high valuations are some of the problems facing the NBFC sector, said analysts
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