FMCG major ITC left investors little to chew on in its March quarter results with the shares falling nearly 1% to Rs 437.85 on BSE during the day but brokerages have raised target prices going up to Rs 540. Global brokerage firm Citi, which has a buy call on ITC, raised its target price to … Read more
Hindalco Industries, the Aditya Birla Group‘s metals flagship company, is likely to post muted revenues even though profitability is expected to edge higher. The company will announce its fourth quarter results later today. Revenue from operations during the January-March 2024 period is likely to decline up to 6% year-on-year, while profit growth is seen up … Read more
Domestic brokerage Kotak Institutional Equities has initiated coverage on Mamaearth’s parent company, Honasa Consumer with an ‘Add’ recommendation for a target price of Rs 450, an upside potential of 4% from the current levels. The brokerage states that it likes Honasa’s brand seeding/scaling and execution speed. A steady increase in repeat offtakes (conversion of experimentative … Read more
Shares of multibagger HDFC Asset Management Company (AMC) have been downgraded by Kotak Institutional Equities despite growth tailwinds remaining the strongest. The company’s outperformance over its peers is fully priced in at the current valuations, Kotak said in a note as it slashed the stock’s fair value to Rs 3,750, a 1.5% climbdown from Tuesday’s … Read more
Shares of NMDC fell over 4% on Thursday to the day’s low of Rs 197.15 on the NSE after Kotak Institutional Equities warned investors of sharp price cuts and earnings downgrade going ahead. The domestic brokerage trimmed its fair value to Rs 195 from an earlier Rs 205 while retaining a ‘Sell’ view. The valuations … Read more
Auto components manufacturers Schaeffler India, Timken India and SKF India have been upgraded to ‘Add’ from an earlier ‘Sell’ rating by Kotak Institutional Equities, which sees good entry points in these midcap stocks following a 17-22% correction over the past 6 months. While Schaeffler has fallen by 17%, Timken and SKF’s declines stand at 20% … Read more
As the NPA levels of Indian banks are at multi-year low levels, billionaire banker Uday Kotak believes that most financial institutions now have a clean white shirt after a difficult decade 2009-19. While speaking at the Chasing Growth 2024 Investor Conference organised by Kotak Institutional Equities in Mumbai on Monday, Kotak told investors that the … Read more
With midcap and smallcap indices hitting fresh peaks every day, domestic brokerage firm Kotak Institutional Equities today dropped its list of recommended midcap portfolio saying the primary driver of the rally appears to be irrational exuberance among investors. “The last lot of the new favorite mid-and-small-cap. stocks fall in the dubious category of ‘turnaround’ stories. … Read more
MUMBAI: Fast-moving consumer goods company Nestle India is likely to report a 12 per cent year-on-year rise in net profit to Rs 589 crore for the quarter ended March, an average of estimates by eight brokerages showed. The company is also expected to report a strong 8.2 per cent on-year growth in revenues in the … Read more