Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes ITC, UPL, Five Star Finance, and GMR Airports among others.
ITC
Jefferies On ITC
Buy Call, Target At Rs 550/Sh
Co Comes Out As A Winner, With Government Leaving Tobacco Taxes Unchanged
GST Rates Are Also Likely To Stay Stable Until Mar’26 Until Centre Settles State Dues
In Context Of Somewhat Tough Demand Conditions, Stable Taxation Improves Earning Visibility
Personal Tax Rate Cuts/Benefits Will Help Consumption In General & Co May Be A Natural Beneficiary
MS On ITC
Overweight Call, Target At Rs 554/Sh
Budget Allays One Of Usual Concerns Of Tobacco Tax Hikes
Co Is Well Placed For Sustainable Growth With Strong Business Fundamentals
Jefferies On OMCs
Govt’s Budgeted LPG Subsidy Implies That OMCs Will Bear 69% Of FY25 Under-Recoveries
OMCs Will Bear 69% Of FY25 Under-Recoveries On Regulated Product After A Gap Of 9 Yrs
Budgeted LPG Subsidy Move Suggests Govt Has Capped Marketing Profitability Of OMCs
Govt Capped Profitability Of OMCs Where Larger Margin In Auto Fuels Are Partially Negated By Losses On LPG
There Is Higher Uncertainty On OMC Profitability If Crude Rises Sharply
Crude Rising Sharply Could Narrow Auto Fuel Margin In The Future
Lower Valuation Multiples For BPCL/HPCL/IOCL
Investec On UPL
Upgrade To Buy From Sell, Target Raised To Rs 700/Sh From Rs 450/Sh
To Achieve Guidance On Back Of Recovery In Global Macro Demand & Focus On Operational Efficiency
UPL Should Also Be Able To Bring Down Its Overall Debt Levels In FY25
Nomura On Five Star Finance
Buy Call, Target At Rs 870/Sh
Well Poised To Navigate The Credit Cycle
AUM Growth Moderates To 25% YoY, Driven By Soft Disbursement Trends
Asset Quality Deteriorates; Credit Costs Remain Stable QoQ: Gross NPA/Net NPA Inched
Reported Margin Contracted QoQ; Healthy Cost Ratios
Jefferies On GMR Airports
Buy Call, Target Cut To Rs 92/Sh From Rs 100/Sh
Airports Eco Regulatory Authority Data’s Suggested Avg Aero Tariff Is Lower Than Est for FY26-FY29
Lower Average Aero Tariff Is Neg Vs Estimates
Development Removes Uncertainty Around Quantum
Estimate FY24-FY27 EBITDA CAGR Of 25% Vs 30%+ Earlier
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