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CSLA maintains its sales rating
Because growth has slowed down from pre-covid levels. Its target price on the stock is Rs 5,000, indicating a decline of over 13 per cent from current levels.
CLSA said customer acquisition is strong but AUM growth was in line with expectations and valuations have returned to pre-Covid multiples. “Public deposits showed good performance but NCDs are negligible.”
In its quarterly update, Bajaj Finance said that new loans booked during Q1FY23 grew by 61 per cent to 7.4 million as against 4.6 million in the same period last year. The company claimed to have strong liquidity position.
Morgan Stanley, on the other hand, is positive on the banking sector ahead of earnings as it believes credit growth has been strong and asset quality remains good. It expects lenders to report strong earnings in the June quarter.
It said, “NIM will begin to bottom or reform retail-funded banks and investors will focus on assessing the potential backward impact,” and as its preferred choice.
Credit Suisse remains optimistic with an ‘outperform’ rating and a target price of Rs 4,350, up 14 per cent from its previous close. This is positive on lower funding in the sector, which is likely to reduce cash burn.
The brokerage said e-pharmacy app download speeds are slowing down, but Apollo should benefit from the evolving dynamics. “The company has not changed its strategy and has kept its discount unchanged at 18 percent.”
Brokerage is also Bullish
() as the Company continues its strong performance. Credit Suisse has a target of Rs 250 on the stock with ‘Outperform’ rating.
The brokerage said it is better to track the e-auction price than the premium and expect Street to update the estimates. “CIL is maintaining its health dividend yield,” it added.
Another International Broking Firm City The FMCG major has maintained its buy rating on
With a target price of Rs 595, the stock is up by 21 per cent. It is expecting a stable business outlook.
Citi said Marico’s gross margins remain strong, but demand in India continues to subside. The brokerage expects the company’s go-to-market initiatives to help the numbers, and the company is also foraying into food and digital-first brands.
The FMCG major reported ‘mid-single digits’ decline in its India business as the sector witnessed ‘sluggish demand’ amid rise in retail inflation.
Marico said current trends indicate that consumers headlined ‘consumption’ in certain non-essential categories and either downtraded between brands or switched to smaller packs in essential categories.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. They do not represent the views of The Economic Times)
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