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Brokerage Radar: MGL, IEX, Kalyan Jewellers, and Chola Investment see target price upgrades

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Mahanagar Gas, Tata Steel, Ola Electric and more.

September 12, 2024 / 08:03 IST
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Brokerage Radar

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Mahanagar Gas, Tata Steel, Ola Electric and more.

Morgan Stanley On PNB Housing Finance
Overweight Call, Target Raised To `1,500/Sh From `1,025/Sh
After Balancesheet Repair & Franchise Rebuilding, Assess That Co Can Deliver Loan Growth
See Re-rating Up To 2.5x FY27 P/B Over 12-18 Months As Loan Growth, RoA & RoE Expand
Following A Sharp Rally, Profit Taking, Stock Supply & Rate Cuts Could Be Headwinds
But See Profit Taking, Stock Supply & Rate Cuts As Transient
Focus More On Structural Re-rating

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Jefferies On Mahanagar Gas
Buy Call, Target Raised To `2,120/Sh
Volume Growth Outlook Is Improving On Accelerating RO Additions & Healthy I/C Vol Growth
Falling APM Gas Allocation Is A Structural Headwind For CGDs
Co’s Margin Defense Is Stronger Compared To Peers On Lower Reliance On Expensive Spot LNG
Raise Volume Growth Estimate For FY25; Preferred CGD Pick

Jefferies On Cholamandalam Investment
Buy Call, Target Raised To `1,800/Sh
See Loan Growth Holding Up At 27% In FY25 Despite Softer Trends In Select Auto Segments
See Multiple Tailwinds To NIMs
With 43% Of Borrowings Linked To T-Bills, Gains From Easing Rates Should Be More Upfront Vs Peers
As Operational Leverage Unfolds, New Biz RoA Can Rise 100 bps Lifting Group RoA By 22 bps
EPS Should Grow At 29% CAGR In FY24-27