Aurobindo, Eicher Motors and Bank of India, among others, are on the radar of investors on Thursday.
The research firm observed that the June quarter was ahead of its estimates, but slightly below Street expectations. A 7 percent QoQ Growth in US business is positive, given the muted trend in base business. Further, an improvement in the business and higher margin may reverse declining trend in the stock.
Brokerage: Kotak Sec | Rating: Add | Target: Rs 170
Kotak Securities said that sharp compression seen in net interest margin in Q1. Further, a better coverage ratio is aiding the bank, resulting in NPLs falling for fifth quarter. It also said that the company is essentially looking for a convergence between book value & adjusted book.
Brokerage: Kotak Sec | Rating: Sell | Target: Rs 785
The brokerage house said that the company’s June quarter results were above expectations as the company retained benefits of lower input price. Further, it remained cautious on the sustainability of high margins & returns of CGD business.
Brokerage: Axis Cap | Rating: Downgrade to Hold | Target: Rs 31,496
The brokerage said that the story of strong volume growth & margin expansion remains intact. Further, the order book being 1.5 months while capacity expansion is worrying and expects waiting period to be higher given that capacity has been stagnant. The brokerage continues to believe co is a quality franchise with growth story still intact.
Brokerage: Motilal Oswal | Rating: Buy | Target: Rs 542Motilal Oswal downgraded consolidated EPS By 27%/7% factoring in cost pressures in JLR & stronger rupee. Lower EV/EBITDA multiple for JLR To 3x to factor in high volatility in performance.