Jubilant Foodworks (JFL), which operates Domino’s Pizza and Dunkin’ Donuts chains in India, has seen a sharp 5% decline in its stock price as analysts downgraded the stock after its poor second quarter numbers. The company reported a 4.5% year-on-year (YoY) rise in revenues to Rs 13,448 million, while net profit declined 39.5% YoY to […]
Analysts have given mixed reactions to Torrent Pharmaceuticals, which reported a 16% year-on-year increase in second-quarter revenue to Rs 26,600 crore, more than half of which came from India. Kotak and JM Financial have remained cautious on Torrent Pharma with unchanged ‘REDUCE’ and ‘HOLD’ ratings respectively. While JM Financial has not outlined estimate changes, Kotak […]
Voltas’ second quarter results failed to meet brokerage expectations, prompting several firms to cut their ratings, estimates and price targets on the stock. The company’s profitability was impacted by continued losses in its electromechanical projects and services (EMPS) business, which is closely aligned to the construction sector. Analysts acknowledged the company’s growth potential but see […]
The second quarter results announced by Havells India (HAVL) have elicited broadly negative reactions from brokerages, with most downgrading earnings estimates and price targets. The primary factors responsible for the disappointing results and outlook are softness in consumer demand, elevated competitive intensity, and continuing losses in the Lloyd business. JM Financial cut its FY24 and […]
Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]
Nuvama Research has doubled its dividend estimate for National Mineral Development Corporation (NMDC) to Rs 15 per share for FY2024 citing the company’s strong free cash flow generation and robust balance sheet. In its latest research report, Nuvama estimates NMDC to generate free cash flow of INR 85 billion in FY2024 and INR 50 billion […]
Zomato’s stock has seen a sharp run-up of over 120% from its 52-week lows in February 2023, leading to worries of overheating and over-valuation. However, analysts remain bullish on the long-term prospects of the food delivery platform. In a recent report, ICICI Securities said Zomato remains their top pick in the Indian internet space. They […]
Mumbai-based brokerage HDFC Securities has reiterated a SELL rating on retail giant Trent Ltd with a target price of Rs 1,370 — 33% below the current price — even as it acknowledged the company’s strong growth in recent years. Trent has been one of the most exciting retail growth stories in India, growing at a […]
Care Ratings has upgraded the credit rating of Federal Bank’s bonds from AA to AA+ on continued improvement in the bank’s overall business, diversification of loan portfolio, better profitability and stable asset quality. Federal Bank is one of the oldest private sector banks in India with over 80 years of operating history and is a […]
Credit rating agency CARE Ratings upgraded Yes Bank’s long-term debt instruments citing improved operating metrics, including the recent restructuring of the banks shareholding. The rating agency has revised the ratings on Yes Bank’s infrastructure bonds and Tier II bonds to ‘CARE A; Positive’ from ‘CARE A-; Positive’. CARE said the revision factors in continued growth […]
Leading brokerage HDFC Securities has come out with a positive outlook on real estate developer Sobha Ltd, stating that headwinds are largely priced in and risk-reward is now favorable for further rerating. The brokerage believes the stock’s underperformance versus real estate sector makes valuations compelling for investors to make a fresh entry. In an in-depth […]
Kotak Institutional Equities has reiterated its sell rating on diversified metals & mining company Vedanta Ltd, citing significant leverage concerns for the parent Vedanta Resources Ltd (VRL). In a note on Tuesday, Kotak trimmed the fair value estimate for Vedanta to Rs 200 per share from Rs 215 earlier. The stock is trading at around […]
HBL Power Systems is well placed to o ride surging demand for batteries in railways, industrials and defence sectors, and the stock should Rs 322 in 6-9 months, said the broker
