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[hfe_template id='11223'] [ad_1] Questioning whether Prime Minister Narendra Modi can operate effectively in a coalition government in his third term, Chris Wood of global brokerage firm Jefferies has shaved weightage of PSU stocks in his long-only India portfolio. The weightings in ICICI Bank, State Bank of India (SBI), REC and Coal India will be reduced by one percentage point each, while an investment in PolicyBazaar will be introduced with a 4% weighting, Wood wrote in his GREED & fear newsletter. As for the Asia ex-Japan long-only portfolio, the investment in JSW Energy will be increased by one percentage point by shaving the investment in SBI. Wood said there will be a temptation for investors to tilt portfolio more towards consumption plays, relative to investment plays, on the view that the new government will focus more on populist measures whereas a feature of the past 10 years has been a fiscal deficit driven by spending on physical infrastructure rather t...

[hfe_template id='11223'] [ad_1] Brokerage firms such as CLSA list out stocks such as L&T, IRB, and NCC among others that could benefit from the 100-day plan for Modi 3.0, Goldman Sachs is positive on private banks, Jefferies prefers Aavas Financiers, Can Fin Homes as top housing finance companies and Morgan Stanley are overweight on HDFC Life. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on the 100-day plan for Modi 3.0: Infra stocks to benefit An ambitious 100-day plan for Modi 3.0 to hit the ground running with large orders, CLSA said in a note. Large orders the being identified to be placed across the infrastructure and defence domains, it said.Asset monetisation plans to improve funding visibility. Demands from the BJP's allies for more capex in the Andhra and Bihar states should revive state capex as well.The global investment bank Larsen & Toubro (L&T), IRB Infrastructure, Hindustan Aeronaut...

[hfe_template id='11223'] [ad_1] May 19, 2024, 09:48:14 AM IST 1 / 14 Outperforming Rockstars Jefferies has initiated coverage on 13 Indian stocks in the calendar year 2024 so far, taking its total coverage universe to 188 with a combined market cap of US$3.4tr or 70% of India's listed market. The majority of the 13 covered stocks have been strong outperformers relative to the benchmark index. Here’s the list of 13 stocks in which Jefferies has initiated coverage: ETMarkets.com ​Over FY24-27E, The brokerage firm believes that network expansion and growing client vintage should drive 25% CAGR in active AUM of wealth business. Jefferies initiated a ‘buy’ on 360 Wealth with a target price of Rs 900. Getty Images ​A ‘buy’ rating and a target of Rs 3,800 is foreseeable as he company is riding on the strong Industry tailwinds in New Energy/sustainability, Airports, Infra, digitalisation, and import substitution in India. Reuters ​The global brokerage firm sees Bharti Hexac...

[hfe_template id='11223'] [ad_1] Shares of foodtech platform Zomato on Tuesday fell up to 6% to Rs 182.10 on BSE even as brokerages like CLSA, Jefferies, Bernstein and Elara raised target prices going up to Rs 280 per share following an impressive show in Q4 results. CLSA raised target price on Zomato to Rs 248, Bernstein to Rs 230, Jefferies Rs 230 while Elara Capital had the highest target at Rs 280. "We continue to favor Zomato on its strong moat in the food business, which may continue to post an adjusted EBITDA CAGR of 47% in FY24-26E, and superior execution for Blinkit (market leadership), helped by better customer experience versus peers (on-time delivery, better product assortments)," Elara Capital said. Analysts were impressed again with the growth in Blinkit as the quick commerce platform's GOV grew by a solid 13.7% QoQ driven by a 17% QoQ in orders offset by 3% QoQ decline in AOV. The announcement to increase dark stores count to 1,000 by the end...

[hfe_template id='11223'] [ad_1] Shares of TVS Motor Company surged nearly 6% on Thursday on BSE to the day’s high of Rs 2,121.30 as the company reported an 18% year-on-year (YoY) increase in standalone net profit to Rs 485.43 crore for the fourth quarter ended March 31, 2024. TVS Motor Company’s revenue from operations in the quarter under review grew 24% YoY to Rs 8,169 crore as against Rs 6,605 crore registered in the quarter ended March 2023 while Overall, two-wheeler and three-wheeler sales, including exports, grew by 22% to 10.63 lakh units in the quarter ended March 2024. Here’s how brokerages view the stock post Q4 results: Jefferries The stock is scaling to new highs and the growth momentum seems to continue as India’s 2-wheeler industry is poised for strong growth while exports are also recovering, said Jefferies. The company’s margins are improving and the EPS has more than trebled in the last 3 years and is expected to more than double in the next 3 years. Je...

[hfe_template id='11223'] [ad_1] Brokerage firm Morgan Stanley has an Equal Weight rating on PB Fintech, Jefferies recommended a buy on JSW Energy, Goldman Sachs maintained a buy on Pidilite Industries and UBS has a buy on Max Financials. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on PB Fintech: Equal Weight| Target Rs 1010 Morgan Stanley maintained an Equal Weight rating on PB Fintech with a target price of Rs 1010. The beat was led by much stronger insurance business. The core business beat was led by strong insurance new business growth.Disbursement growth was weaker due to tighter credit supply. Adjusted EBITDA margin reached a new high.Investor focus will be on the sustainability of premium momentum and a pickup in the credit business.Jefferies on JSW Energy: Buy| Target Rs 690 Jefferies maintained a buy rating on JSW Energy but raised the target price to Rs 690 from Rs 600 earlier. The profitabil...

[hfe_template id='11223'] [ad_1] Shares of JSW Energy surged 5.8% today on BSE to the day’s high of Rs 618 after brokerages raised target prices on the stock following Q4 results. The company reported a 22% YoY jump in March quarter profit to Rs 345 crore. JSW Energy reported its Q4 results on Tuesday, in which the revenue from operations for the said quarter stood at Rs 2,756 crore versus Rs 2,670 crore in the year-ago period, clocking a 3% YoY rise. One of India's leading power companies, JSW Energy achieved its highest-ever EBITDA of Rs 5,837 crore for FY24, up 53% YoY. For Q4FY24, EBITDA surged 47% YoY to Rs 1,292 crore resulting in a 29% YoY increase. Here’s a look at what brokerages said on the stock: Jefferies The profitability improvement for the acquired portfolio is underway. The company plans to reach a 20 GW capacity target by FY30E. It forecasts a 33% EPS CAGR in FY24-27. Jefferies maintained a buy rating on JSW Energy but raised the target price to Rs 6...