1. Bajaj Finance:
– Morgan Stanley views Bajaj Finance as overweight with a target price of Rs 10,000.
– The Securities Appellate Tribunal (SAT) has overturned SEBI’s decisions on Karvy. This means lenders will receive their outstanding amounts along with interest.
– Bajaj Fin reported a charge-off of Rs 3.2 billion in FY20. If this amount is recuperated, it could represent 1.7% and 1.3% of the projected PAT for F24e and F25e, respectively. Including interest, the figures could be 2.4% and 1.9%.
2. Zomato:
– Jefferies recommends buying Zomato shares with a target price of Rs 165.
– The possibility of Zomato acquiring Shiprocket seems slim. Currently, Zomato holds approximately a 5% stake. Given the company’s current focus on quality control and expansion, a deal is seen as unlikely.
3. BPCL:
– Morgan Stanley suggests an overweight stance on BPCL with a target price of Rs 485.
– BPCL is transitioning its chemical operations from oil-based to chemicals. This move is expected to boost returns, especially with the chemical sector in India, worth $40 billion, showing growth for the first time in ten years. Additionally, new Polypropylene (PP) expansion is expected to increase earnings.
4. MGL:
– Jefferies recommends buying MGL shares with a target price of Rs 1350.
– MGL’s partnerships with Original Equipment Manufacturers (OEMs) are proving beneficial. The company is also adjusting its pricing strategies to counteract increasing costs and maintain margins. Concerns related to electric vehicles in the NCR region are seen as manageable.
5. 360 One:
– CITI suggests buying 360 One shares and has raised the target price to Rs 750 from Rs 615.
– The company is well-positioned to introduce its mid-market strategy by April 2024, following successful trial runs. Leveraging its existing products and services, along with a growing client base, places 360 One favorably in the UHNI market segment.
6. Siemens:
– Siemens AG has formally approached Siemens to consider splitting its Energy business.
– There’s been a notable increase in inquiries for Power Transmission.
7. Realty Stocks:
– JLL India projects a 20% surge in apartment sales across seven major cities, totaling around 2.6 lakh units, marking the highest since 2008, due to increased demand.
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