Brokerage Radar: Nuvama bullish on BSE, Goldman Sachs says 'sell' CreditAccess

Brokerage Radar

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes HDFC AMC, BSE, oil marketing companies and more.

Nuvama On BSE
Initiate Buy Call, Target At Rs 6,730/Sh
Derivatives To Scale Up Despite Regulatory Tightening
Forecast FY24–27 Revenue/APAT CAGR Of 39.9%/70.8%, Lifting RoE To 37.9%
Lower Clearing Charges To Send Margin Soaring
There is Robust Structure, Multiple Streams To Propel Revenue Growth
At CMP Stock Is Trading At FY26/27 P/E Of 43.9x/37.6x

HSBC On HDFC AMC
Hold Call, Target At Rs 4,350/Sh
Rationalisation Of Commission Payouts & Controlled Operating Costs Led To Strong Profit Growth In Q3
Mkt Sh Has Stagnated In Equity AUM & SIP Flows Which Can Keep Punchy Valuations Under Pressure
Raise FY25-27 EPS By 0.4-4.1%

Nomura On HDFC AMC
Buy Call, Target At Rs 5,250/Sh
Higher Operating Revenue & Lower Opex Lead To 6% Beat In Operating Profit
Raise FY25-27 EPS By 2-3%
Steady Overall And Equity AUM Market Share; SIP Flow Market Share Declined 60 bps QoQ
Build In A Strong Operating Profit CAGR Of 20% Over FY25-27 & Expect It To Largely Track AAUM Growth

HSBC On OMCs
Volatility In Oil Price Will Reduce Risk Of Auto Fuel Pump Price Reductions, Biggest Risk To Profitability
Return Of Auto Fuels Demand In Non-Controlled Products Help Offset Weakness In Marketing Margin
Maintain Buy Call On OMCs (BPCL, HPCL, IOC); Stock Correction Makes Them Even More Attractive

GS On CreditAccess
Sell Call, Target At Rs 577/Sh
Don’t Find Encouraging Signs Of Recovery In MFI Industry
Data Suggests 37% Of MFI Borrowers With Retail Overlap Are Delinquent Either On MFI/Retail Or Both
Note That There Is An Increase In Slippages Across Retail Products By 120 bps Since Mar’24 To 4.3%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.