Buy, Sell, Hold: 2 stocks that analysts are watching post Q4 results today

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26 Aug, 2025 12:21

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Tata Motors

Brokerage: Nomura | Rating: Buy | Target: Rs 518

The global brokerage firm observed that the company’s March quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) was 17 percent ahead of its estimates and 28 percent ahead of the consensus. Meanwhile, standalone EBITDA margin is set to rise to 5.6 percent in FY18 and 6.8 percent in FY19. It sees volumes to be driven by 10.6 percent in FY18 on strong F-Pace demand, launch of Velar and Sport. Going forward, successful ramp up of new models, margin expansion are the key catalysts for the stock, it added.

Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 588

Morgan Stanley said that the automobile major’s earnings were much better than expected and that the entire beat was driven by JLR’s financials. The margin beat was led by leverage gain, better mix and lower forex losses, the brokerage said in its report.

Further, it said, that the margin catchup between reported and ex-forex losses will be gradual.

Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 555

The global investment bank expects JLR’s new launches to aid volume growth by 13 percent per annum as well as boost margin from 11 percent to 16 percent. It sees share of mid/high-priced models to increase from 38 percent to 43 percent in FY19. Among key risks are model failures and a sharp deceleration in pricing

Brokerage: Bank of America Merrill Lynch | Rating: Buy | Target: Rs 600

The investment bank sees tailwinds to earnings in FY18 on lowering losses in India. A sharp recovery in earnings with 86 percent EPS CAGR for FY17-19 is forecast by BofA-ML.

Brokerage: CLSA | Rating: Sell | Target: Rs 405

CLSA sees margin pressures for JLR in FY17 likely to continue in the next fiscal. The brokerage believes that the Indian business continues to languish in loss-making territory. It has assumed EBIT margins of 7.5 percent in FY18 & 9.5 percent in FY19 Vs 6.0 percent in FY17. Further, it said that it had fine-tuned FY18-19 EPS, factoring in lower JLR/India volume, but higher JLR margin.

Brokerage: JPMorgan | Rating: Overweight | Target: Rs 570

JPMorgan thinks model story at JLR for FY18 is compelling and should aid FY18 performance.

Jindal Steel and Power

Brokerage: Credit Suisse | Rating: Outperform | Target: Rs 150

Credit Suisse believes that overall EBITDA/T, including profit from pellet sales, was USD 7 above estimates on 2 percent higher volumes. It feels that an absolute debt may still remain elevated given capex plans for the next 1-2 years.

Brokerage: Citi | Rating: Buy | Target: Rs 200

Citi said that the company was still in its early stages of turn around with Q4 being the second quarter of improvement.

Further, it said that the company will have room to improve cash flows, de-lever with strong demand. Among key risks for the stock include decline in output prices and legal risks.