Goldman Sachs has a ‘buy’ recommendation on TCS but has cut target price to Rs 3,960 after the software major’s Jan-March results. Analysts said that both revenue growth and EBIT margins were marginally below the brokerage’s expectations. The company’s flat headcount and deferred wage hike suggest an uncertain growth outlook. TCS is seeing delays in decision-making, with some project ramp downs, and discretionary spends.
JP Morgan maintained its ‘overweight’ rating on Tata Steel with a target price of Rs 180. Analysts said the company’s Netherlands transformation program to target Euro 500-million-plus cost savings over FY26-27 is a positive development against a tough macro backdrop. Investor focus in the near term likely remains on the second order impact of demand destruction. They believe Tata’s structural cost reduction initiatives should not be ignored.
Motilal Oswal Financial Services has upgraded Interglobe Aviation (Indigo) to ‘buy’ with the target price at Rs 5,550. Calling the airline the ‘best domestic consumption play’, analysts said that the upgrade came as they believed that benign Brent crude prices amid the ongoing geopolitical turmoil and favourable domestic demand bode well for the company.
Investec maintained its ‘buy’ recommendation on Sun Pharmaceuticals with a target price of Rs 1,980. Analysts said that the US Federal Circuit court has lifted a preliminary injunction on Leqselvi’s launch in the country, paving the path for its launch. Court case with Incyte shall continue and in case Incyte wins, Sun Pharma could be liable for damages. Believe Incyte’s incentives to settle are low and cannot conclude if they are more willing to settle now. Over the next 2-3 years, Leqselvi’s ramp up is likely to be slow around sub $100 million in sales.
Kotak Institutional Equities has downgraded Muthoot Finance to ‘add’ from ‘buy’ and cut target price to Rs 2,250 from Rs 2,400. Analysts cut their estimates by 10% after RBI’s draft guidelines on gold loans potentially reduce maximum LTV for gold loan NBFCs, increase competition from moneylenders and/or reduce IRR on loans. While they await to see the final form of the guidelines, they have moderated their growth and margin assumptions. They remain constructive on gold loan business, but expect an overhang of regulatory changes to temper stock performance.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage 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.
JP Morgan maintained its ‘overweight’ rating on Tata Steel with a target price of Rs 180. Analysts said the company’s Netherlands transformation program to target Euro 500-million-plus cost savings over FY26-27 is a positive development against a tough macro backdrop. Investor focus in the near term likely remains on the second order impact of demand destruction. They believe Tata’s structural cost reduction initiatives should not be ignored.
Motilal Oswal Financial Services has upgraded Interglobe Aviation (Indigo) to ‘buy’ with the target price at Rs 5,550. Calling the airline the ‘best domestic consumption play’, analysts said that the upgrade came as they believed that benign Brent crude prices amid the ongoing geopolitical turmoil and favourable domestic demand bode well for the company.
Investec maintained its ‘buy’ recommendation on Sun Pharmaceuticals with a target price of Rs 1,980. Analysts said that the US Federal Circuit court has lifted a preliminary injunction on Leqselvi’s launch in the country, paving the path for its launch. Court case with Incyte shall continue and in case Incyte wins, Sun Pharma could be liable for damages. Believe Incyte’s incentives to settle are low and cannot conclude if they are more willing to settle now. Over the next 2-3 years, Leqselvi’s ramp up is likely to be slow around sub $100 million in sales.
Kotak Institutional Equities has downgraded Muthoot Finance to ‘add’ from ‘buy’ and cut target price to Rs 2,250 from Rs 2,400. Analysts cut their estimates by 10% after RBI’s draft guidelines on gold loans potentially reduce maximum LTV for gold loan NBFCs, increase competition from moneylenders and/or reduce IRR on loans. While they await to see the final form of the guidelines, they have moderated their growth and margin assumptions. They remain constructive on gold loan business, but expect an overhang of regulatory changes to temper stock performance.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage 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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