Brokerage firm Jefferies downgraded Coforge, and maintained a buy rating on Bajaj Finance and a buy call on ONGC. Morgan Stanley maintained an Equal Weight rating on Federal Bank.
Morgan Stanley maintained an overweight rating on D-Mart with a target price of Rs 4471. The Q3 operational metrics improve further, however, the pace of store additions needs to pick up, it said.
Federal Bank reported a YoY earnings growth of 42% in Q1 but recorded a 16 bps QoQ decline in net interest margin (NIM). Despite this, most brokerages maintain a buy rating for the stock. Kotak Equities argues that the bank is well-positioned to achieve a return on assets (RoA) of over 1.2% in the next few years.
Nomura has a Neutral view on Wipro and the price target is Rs 375. Q1 results toward the bottom end of guidance and the company missed consensus estimates, the brokerage noted. "Discretionary demand remains weak, affecting the consulting portfolio. Q2 guidance shows weakness to persist. Margin improvement unlikely in FY24," it said