HDFC,MARUTI SUZUKI,UNITED SPIRITS & PRESTIGE ESTATES
IDBI Capital raised the target price of Housing Development Finance Corporation Ltd (NS:HDFC) from Rs. 2404 to Rs. 2625 on account of the prospect of HDFC gaining market share in the housing finance sector and a general improvement in the real estate sector. HDFC reported better than expected profits and stable asset quality in its latest Q3FY20 earnings. HDFC has been focusing on EWS and LIG segment to grow its business. HDFC closed at Rs. 2406 in yesterday’s trade,
Motilal Oswal (NS:MOFS) raised the target price of Maruti Suzuki India Ltd. (NS:MRTI) from Rs. 7010 to Rs. 8000 on account of improving demand environment. During its 3QFY20 earnings call, Maruti’s management mentioned that they are observing an increase in inquiries and that the rural demand is looking better. It also said that in January 2020, key models had seen Rs. 5-6k reduction in discounts and price increase of Rs. 5-6k. Such action is favorable for its margins. Maruti’s stock closed at Rs. 7022 in yesterday’s trade,
Motilal Oswal raised the target price of United Spirits (NS:UNSP) from Rs. 634 to Rs. 801 on account of EBITDA margins expansion of 210 bps in 3QFY20. The operating costs savings helped in boosting the margins for United Spirits. Its stock closed at Rs. 633 in yesterday’s trade,
Nirmal Bang raised the target price of Prestige Estates (NS:PREG) from Rs. 376 to Rs. 445 on revenue growth of 155% “driven by 1) higher growth in residential revenues, 2) Increase in annuity income by 25% YoY. The company is also increasing non-south exposure through tie-ups and picking up distressed projects. The stock closed at Rs. 380 in yesterday’s trade.
No comments:
Post a Comment