Brokerage Radar: Tata Chem gets 'reduce' call, caution for NBFCs, banks and real estate

Brokerage Radar

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes stocks like Tata Chemicals and Transport Corp along with sectors like NBFCs, real estate, banks and more.

HSBC On Tata Chem

Reduce Call, Target At Rs 820/Sh

Minimum Import Prices (MIP) For Soda Ash In India A Positive Development In Challenging Mkt

MIP Protects Domestic Players From Further Global Soda Ash Price Declines

Minimum Import Prices Can Have A Positive Rub-Off On Volumes

Maintain Reduce As Industry Demand Outlook Remains Muted Amid Oversupply Risk

Nomura On NBFCs

Moderating Growth; Risk In Unsecured Retail Continues To Be In Spotlight

RBI’s Stress-Test Projections Show That NBFCs’ NPAs Should Stay At 3.4% By Sep’25

In A High-Risk Case Scenario, NBFCs’ NPLs Could Pick Up To 6%

Remain Cautious On NBFCs Atleast Till H1CY25

Shriram Housing Finance Continues To Be Top Pick

Maintain Buy On Aadhar, Five Star & LIC HF

Negative On SBI Cards, M&M Fin & Reduce Call On CreditAccess Grameen

Reduce Call On Cholamandalam Investment & Bajaj Finance

Nomura On Banks

RBI Flags Stress In Unsecured Retail, MFI; Sanguine Otherwise

Prefer Banks With Strong Deposit Franchises, Strong Retail Underwriting

Prefer Banks With Lower Exposure To Unsecured Retail Segments

Top Picks Are ICICI Bank & SBI Among Large Banks, & Federal Bank Among Midcap Banks

Antique On Real Estate

Q3 Sales Booking May Remain Muted For AB Realty, Prestige, Sobha, Sunteck Realty & Kolte-Patil

Q3 Sales Booking Are Expected To Remain Muted Due To Limited Or Lack Of New Launches

Expect Godrej Props, Macrotech Developers, DLF, Oberoi & Brigade To Post Good Numbers

Q4FY25 Is Expected To See A Surge In Launches From AB Realty, Prestige, Sobha

Expect Surge In Launches In Q4 For Godrej Props, DLF, Brigade Ent, Sunteck Realty & Kolte-Patil

Optimistic That Most Of Real Estate Players Will Be Able To Launch Remaining Proj Pipelines In Q4

Top Picks Are Aditya Birla Real Estate & Oberoi Realty

Emkay On 2-wheelers

There Is Steep Correction Of 24% In 2-wheeler Stocks From Recent Peak

Steepest Decline At 33%/30% For Hero MotoCorp/Bajaj Auto Is Unwarranted

Outlook On Exports Is Improving & Poised For Sharp Recovery

Macro Challenges In Highly Under-penetrated Key African Mkts Like Nigeria Are Now Largely Behind

Latin America Is Seeing Sustained Growth

Equirus On Transport Corp

Long Call, Target At Rs 1,395/Sh

Freight Would See Modest Growth Amid Margin Stress & Modal Shift In Cargo From Road To Rail

Prospects Look Good For Supply Chain Solutions Given An Evolving Logistics Industry

Seaways Would Benefit From GoI’s Thrust On Coastal Shipping & Order For New Ships

Amid Segment-Specific Tailwinds, Build In 12%/13%/15% Rev/EBITDA/PAT CAGR Over FY24-FY27