BSE Ltd., Dixon Technologies Ltd., Hindustan Unilever Ltd., Dabur India Ltd. and IndusInd Bank Ltd. were among the top companies on brokerages’ radar on Monday.
Analysts have reviewed the first-quarter business performance of some of these companies.
Dixon Tech got a new brokerage initiation with a target price of Rs 18,946. B&K Securities said the company is uniquely positioned to benefit from the accelerating shift towards electronic outsourcing.
NDTV Profit tracks what analysts are saying about various stocks and sectors. Here are the analyst calls to keep an eye out for today.
Brokerages On BSE
Jefferies
-
As Jane Street was a large player, SEBI banning them from securities market may impact volumes that could partly be offset by any uptick in prop activity.
-
Exchanges’ options premium turnover on Friday was below two-months Friday average; trends for next week are key.
-
Earnings hit for BSE may be low as FPIs form 3-4% of turnover.
-
Asset services form 26% and investment banking and institutional equities form 20% of FY26 revenues.
Goldman Sachs
-
Maintained ‘neutral’ rating, with target price cut to Rs 2,300 from Rs 2,430.
-
Modestly lowered EPS to factor in recent volumes.
-
Expects BSE cash equity market share to improve to 7.4% in the medium term.
Brokerages On IndusInd Bank Q1 Business Update
Jefferies
-
Maintained ‘buy’ rating with a target price of Rs 920.
-
Loans contracted, but deposits remained manageable, and the credit rating is intact.
-
Deposits decreased by 3% quarter-on-quarter, indicating limited outflows, which the market might view favourably.
-
A credit rating agency has removed its ratings watch with a negative outlook, a development also expected to be appreciated by the market.
Morgan Stanley
-
Maintained ‘underweight’ with a target price of Rs 750.
-
Muted quarter. Expects gradual earnings recovery starting Q2.
-
Moderating share of high-margin loans as well as uncertainty around the new CEO keeps brokerage underweight.
Brokerages On Dabur Q1 Business Update
Nomura
-
Maintained ‘buy’ with a target price of Rs 550.
-
Weakness and underperformance vs peers continue.
-
Ebitda growth likely to be flattish—both largely in-line with brokerage’s estimates.
-
Decline in summer portfolio impacts healthcare and beverages while HPC sees some improvement.
Goldman Sachs
-
Maintained ‘neutral’ with a target price of Rs 490.
-
Muted quarter on expected lines.
-
Some key categories grew in India, but others dragged.
-
Operating profit growth lagged revenue growth, implying a margin contraction.
-
Beverages portfolio was overall adversely impacted due to truncated summer.
Morgan Stanley
-
Maintained ‘underweight’ with a target price of Rs 396.
-
Weak earnings growth seen continuing; top-line growth largely in line.
-
Consolidated Ebitda growth is seen marginally lagging revenue growth.
B&K On Dixon Tech
-
Initiated ‘buy’ with a target price of Rs 18,946.
-
Scaling up to new highs.
-
Uniquely positioned to benefit from the accelerating shift towards electronic outsourcing.
-
Sees revenue and profit CAGR of 42% and 69% over FY25-27.
-
Customer addition, along with increasing wallet share from existing customers is key to growth.
-
Component manufacturing to provide the next leg of growth.
-
Lighting products: new product development on cards.
UBS On HUL
-
Maintained ‘buy’ with a target price of Rs 2,800.
-
Compelling risk-reward in the making.
-
Valuation should hold if growth rebounds in the second half.
-
Risk-reward is turning very favourable on HUL.
-
HUL has a dominant scale; it needs to fix part of the portfolio.
-
Should meaningfully rebound in H2.
-
FY27 could also continue with the strong earnings growth momentum.
. Read more on Markets by NDTV Profit.