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Goldman Sachs set a target price of Rs 540 on Delhivery as it rolled out coverage on a logistics startup with a ‘neutral’ rating. It sees Delhivery as a profitable e-commerce growth proxy with massive leverage.
It said the company will achieve higher margins from increased outsourcing of first and last mile operations.
Another global brokerage firm, Jefferies, is largely bearish in the metals sector. Indian metal stocks have underperformed the Nifty 50 by 12-34 per cent in the June 2021 quarter.
It added that in sectors where P/B valuations remain above historical troughs, it is still too early to get constructive.
Jefferies’ hold rating is
and with target price of Rs.830 and Rs.310 respectively. It has got an underperform rating.
To reduce its carbon footprint, JSW Steel has earmarked Rs 10,000 crore for increasing the use of renewable energy to convert thermal power and other green initiatives. Various steel makers use coal to generate thermal power.
After a strong operational update from
Brokerage firm Morgan Stanley remained ‘overweight’ over the counter with a target price of Rs 4,332 as the company reported highest absolute revenue in June 2022 quarter.
“The revenue grew by 19 per cent on 3-year CAGR basis,” the brokerage said. The company will announce its earnings for the March 2021 quarter on Saturday, July 9.
(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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