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CLSA said there is a near-term risk of earnings downgrades due to uncertainty over the timelines of the telecom tariff hike and a big rebound in the oil-to-chemicals margins but it has maintained an outperform stance due to the long-term e-commerce and technology opportunity that the stock offers. HSBC said it continues to like RIL’s business and balance sheet but investors are now likely to watch out for a meaningful uptick in business performance. Read More News on ....
Nomura has downgraded the stock to ‘hold’ and reduced target price to Rs 6,390 from Rs 6,500. Lowering earnings estimates by around 8 per cent for the ongoing and next financial year, Nomura said near-term upside in the stock should be limited. “Although we are optimistic about BAF’s business transformation journey, we are keeping an eye on its progress and prefer to remain cautious toward headwinds on the asset quality front,” said Emkay Global, retaining a ‘hold’ rating and revising target price to Rs 5,900 from Rs 5,400 on rolling forward of estimates. HDFC Securities cut FY22 and FY23 earnings estimates by 9 per cent each, saying that the quarterly result reflected the impact of the second wave of Covid-19 on asset quality and business momentum. The brokerage has retained a ‘reduce’ rating on Bajaj Finance. Elara Securities has retained ‘sell’ with a target price of Rs 4,630. ....
How soon can India get to $5 trn mcap? Between 2025-2031, says Elara business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Analysts see more headroom for SBI stock May 24, 2021 Post Q4, brokerages see 30% rise due to its consistent performance After adding 4 per cent post result announcement on Friday, shares of State Bank of India surged further on Monday. The stock, after hitting a high of ₹418.90, closed the day at ₹410.15, up 2.3 per cent, over the previous day s close. Analysts have re-rated the public sector banking major with higher target price, following its strong asset-quality and consistent performance. Brokerages including Nomura, Morgan Stanley and JP Morgan expect the stock to climb at least 30 per cent gains from current levels. SBI’s standalone net profit surged 80 per cent (y-o-y) in the fourth quarter of FY22 on the back of a dip in loan loss provisioning and healthy growth in the net interest income at ₹6,451 crore, as against ₹3,581 crore reported during year-ago period. The SBI board has also declared a dividend of ₹4 a share for FY21. ....