Brokerage Radar: Jefferies downgrades Zomato, Citi bullish on IGL, CLSA bumps up rating on ONGC

Market

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes IGL, Titan, ONGC and more.

Buy Call, Target At Rs 450/Sh

BPCL Says That Board Has Given Approval For Listing Of Maharashtra Natural Gas Ltd

MNGL Is A JV Of IGL, BPCL & GAIL, With Maharashtra State Gov’t Owning Balance 5%

Co Is The Authorised CGD In City Of Pune

A Listing Could Help Unlock Value For Co

Listing Could Also Help Unlock Value In GAIL’s Unlisted CGD Investments

Neutral Call, Target At Rs 3,600/Sh

Jewellery (Ex-Bullion) Reported 26% YoY Growth, Led By Strong Festive Demand In Q3

Store Expansion For Tanishq Remained Strong In Q3 Business Update

CaratLane Reported 25% YoY Growth

Growth For Other Standalone Segments Including Watches & Wearables Was A Mixed Bag

Downgrade To Hold, Target Cut To Rs 275/Sh From Rs 335/Sh

After Share Price Doubling In 2024, Expect A Year Of Consolidation

Valuations Are Not Expensive But We Are Worried On Rise In Quick Commerce Competition

Aggressive Moves By Incumbents & Entry Of New Players Will Likely Result In Higher Discounting

More Discounts May Pose Threat To Medium­term Profitability

Cut BlinkIt EBITDA Forecast Sharply Over FY26-27

Buy Call, Target At Rs 1,600/Sh

Strong Operational Performance Seen In Q3 Business Update

Co Recorded Best Quarter Ever With Pre-sales Of Rs 4,510 Cr

Co Believes It Is On Track To Meet Its Full-year Pre-sales Guidance

Prices Rise By Rs 2/Bag In Jan; Market Shows Signs Of Price Recovery

In Eastern Region, Trade Prices Are Up Rs 5/Bag MoM In Jan & Down Rs 5/Bag QoQ

In Northern & Western Region, Trade Prices Increase By Rs 3/Bag MoM

Prefer UltraTech, Shree Cement, Ambuja & Ramco

Neutral Call On Nuvoco & ACC

Reduce Call On Dalmia

Initiate Long Call, Target At `753/Sh

Profitability Should Improve Materially

Benefits Of All Corrective Actions Undertaken In Last Three Years Bear Fruit

RoE & RoCE Expected To Reach 18.5% & 19.9%

RoE & RoCE To Be Supported By Asset-Light Expansion And Improved Working Capital Efficiency

Current Valuations At 10.5x FY27 EV/EBITDA Appear Attractive

Upgrade To High Conviction Outperform, Target At Rs 360/Sh

Eastern Offshore Field Should Ramp-up To Peak Production

Eastern Offshore Will Lift Co’s Domestic Oil/Gas Output By A Material 10%/20% Before End Of 2025

New Gas & Continued Rise In Gas Sh From Well Interventions, Will Lift Blended Gas Realisation

Removal Of Windfall Tax May Also Allow To Earn Higher Than $75/bbl Realisation If Crude Recovers

Despite Multiple Triggers, Co Is Trading At Material Discount To Own & Peer Average Valuations

Co Offers An Attractive 6% Dividend Yield