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Foreign broking houses cut down target prices of these stocks. Do you own any of them?

ICICI Prudential Life Insurance Company, HDFC Bank, Jindal Steel & Power, ACC, Hindustan Zinc, Tata Consultancy Services and Oberoi Realty are among the stocks in which foreign broking houses cut the target price.

July 20, 2022 / 02:41 PM IST
Stock Market News
Indian markets witnessing high volatility in the past few weeks amid mixed global as well as domestic cues, including GDP, CPI data, progressing monsoon, expectation of further rate hikes by the central banks and the ongoing earnings session. Here are the stocks in which foreign broking houses cut the target price.
ICICI Prudential Life Insurance Company | Brokerage: Jefferies | Rating: Buy | Target: Cut to Rs 700 per share
ICICI Prudential Life Insurance Company | Brokerage: Jefferies | Rating: Buy | Target: Cut to Rs 700 per share
HDFC Bank | Brokerage: Nomura | Rating: Buy | Target: Cut to Rs 1,690 per share
HDFC Bank | Brokerage: Nomura | Rating: Buy | Target: Cut to Rs 1,690 per share
Jindal Steel & Power | Brokerage: Citi | Rating: Buy | Target: Cut to Rs 450 from Rs 590 per share
Jindal Steel & Power | Brokerage: Citi | Rating: Buy | Target: Cut to Rs 450 from Rs 590 per share
ACC | Brokerage: Credit Suisse | Rating: Neutral | Target: Cut to Rs 2,000 from Rs 2,450 per share
ACC | Brokerage: Credit Suisse | Rating: Neutral | Target: Cut to Rs 2,000 from Rs 2,450 per share
Hindustan Zinc | CMP: Rs 285.35 | The scrip added over 8 percent after the company announced an interim dividend of Rs 21 a share. Hindustan Zinc's board of directors on July 13 approved an interim dividend of Rs 21 per equity share for the financial year 2022-23, amounting to Rs 8,873.17 crore, the company said in a regulatory filing. The record date for the payment of the dividend will be July 21, 2022 and it will be paid within stipulated timelines as prescribed under law, the firm said.
Hindustan Zinc | Brokerage: Citi | Rating: Neutral | Target: Cut to Rs 255 from Rs 330 per share
Tata Consultancy Services
Tata Consultancy Services | Brokerage: Credit Suisse | Rating: Downgrade to neutral from overweight | Target: Cut to Rs 3,275 from Rs 4,350 per share
Oberoi Realty: Oberoi Realty reports 5-fold increase YoY in Q1 profit on low base. The Mumbai-based real estate company has reported a 5-fold year-on-year increase in Q1FY23 profit at Rs 403.48 crore as against Rs 80.81 crore in same period last year. Revenue trebled to Rs 934.81 crore from Rs 294.77 crore during the same period, and EBITDA surged nearly four-fold to Rs 513.87 crore from Rs 135.39 crore in the same period.
Oberoi Realty | Brokerage: CLSA | Rating: Upgrade to outperform from underperform | Target: Cut to Rs 925 from Rs 1,005 per share
Rakesh Patil
first published: Jul 19, 2022 09:19 am
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