The brokerage house increased FY20 EBITDA estimates By 11%.
L&TBrokerage: Macquarie | Rating: Outperform | Target: Raised to Rs 1,860The brokerage house said that the firm is set for continued earnings upgrades.
Brokerage: Morgan Stanley | Rating: overweight | Target: Raised to Rs 1,650Morgan Stanley said that the firm is the best proxy for coming construction boom in India.
Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 1,680The brokerage said that the firm ticked all the right boxes in Q3. It is a good proxy for domestic capex and added that the company has a credible strategy to improve growth and RoE.
ICICI BankBrokerage: Deutsche Bank | Rating: Buy | Target: Raised to Rs 380The global research firm said that there was no divergence, revenue drivers were weak.
Further, it said that net interest margins and free income were weak, while loan growh picks up.
Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 480The brokerage house said that the asset quality continued the path of normalization, while the company remains a top pick for the firm.
Brokerage: Nomura | Rating: Buy | Target: Rs 375The global research firm said that an improvement in core PPoP to assets key to re-rating.
The brokerage believes that no divergence is material positive.
VedantaBrokerage: CLSA | Rating: Buy | Target: Rs 422CLSA said that Q3 EBITDA was in-line with estimates but net profit misses. Further, it cut FY18 EPS by 6 percent, factoring in Q3 profit miss. It sees a strong 37 percent EPS CAGR over the next two years.
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