UBS has given a ‘neutral’ recommendation on Bandhan Bank but cut target price to Rs 185 (+17%) from Rs 230 earlier. Analysts feel the lender’s earnings would remain under pressure and the stress in the MFI sector would drive higher credit costs and lower interest margins.
Citi had given a ‘sell’ recommendation on TVS Motors with a target price of Rs 1,700 (-32%). Analysts feel domestic two-wheeler demand to stay flat while exports could see an uptick.
CLSA has given an ‘outperform’ recommendation on Avenue Supermarts (D-Mart) with a target price of Rs 5,360 (+33%). Analysts feel D-Mart’s revenue growth were in line with consensus.
Morgan Stanley has an ‘underweight’ recommendation on Punjab National Bank with a target price of Rs 95. Analysts feel the initial u for the just-ended third quarter was a positive surprise as volume growth was much stronger than expected.
ITC will start trading on an ex-ITC Hotels basis from Monday. The demerged entity will start trading on the bourses after a few weeks. Among the brokerages, Nomura feels ITC Hotels would list at Rs 200 -Rs 300 per share; Nuvama has an initial market price for ITC Hotels to range between Rs150 – Rs 175; SBI Securities feels the implied fair value of ITC Hotels to be between Rs 113 – Rs 170.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerages and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
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