Emkay Global remains positive on the markets and upholds its Sep-26 Nifty target of 28,000. The broking firm is of the view that autos are the best way to play the GST reform.
Emkay Global also issued an "Add" rating on ABB India and shared a target price of Rs 6,100 per share
According to Emkay, Atul is expected to deliver a robust CAGR of 15% in revenue, 30% in EBITDA, and 37% in PAT over FY24–27E.
Barring a near-term dead-cat bounce, IndusInd Bank's stock will mark time until the new CEO is announced, said Emkay Global.
Emkay cites three primary factors that could contribute to the rise in stock prices of PFC, REC
'Only meaningful upgrades in forward estimates could support such elevated multiples, and we do not see that in the next 1-2 quarters,' said Emkay.
Gen AI is progressing gradually and is expected to drive transformational changes in companies' operating models
From the near-term perspective, the full Union Budget could likely boost consumption prospects, said Emkay Global.
Paytm shares have been under pressure since RBI imposed major business restrictions on its associate firm Paytm Payments Bank Limited on January 31
ICICI Prudential's net profit for the March quarter also took a hit, dropping by 26 percent year-on-year to Rs 173.76 crore due to increased expenses