Tata Steel Gets Coverage Initiation With ‘Buy’ Rating As Nomura Expects India Growth And European Turnaround
Nomura has initiated coverage on Tata Steel Ltd. with a ‘Buy’ rating and a target price of Rs 215, implying an upside potential of 25%. The brokerage sees strong growth in India, turnaround in Europe and improving macros.
“We initiate coverage of Tata Steel with a Buy rating on account of domestic focus amid strong demand dynamics, improved utilisation from Kalinaganar, a turnaround of European operations, a partial benefit of lower iron ore cost likely to persist after FY30F and valuation comfort.”
Stock Market LIVE: Brokerages On Urban Company
Morgan Stanley
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The brokerage initiated an Underweight rating with the target price of Rs 117
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The company differentiated business and have steady growth in the price
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Urban Company has a large addressable market in online home services
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This is supported by competitive moats and an experienced founding team
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Morgan Stanley gave an Underweight rating given growth is in the price
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The brokerage expect core India consumer services NTV to grow at a healthy CAGR of 18-22% over financial year 2025-2028
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High churn/supply constraints to drive growth at a calibrated pace
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India consumer services (ex Insta) to reach 30% adj EBITDA margin medium term
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Investments in Instahelp to drag profitability near term
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Valuation multiples should sustain in line with strong and established business models in India Internet
Goldman Sachs
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Goldman Sachs initiated with a Neutral rating and a target price of Rs 140
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Urban Company has a strong business model and execution track record
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The brokerage expects a 24% revenue CAGR over financial year 2025 and 2030.
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Goldman Sachs believe that the strength of the business model and outlook is already reflected in the company’s premium valuations
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The growth compounding has a long runway
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InstaHelp incremental growth driver but not meaningful to SOTP yet, the brokerage said.
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Optionalities from international segment and B2C products
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The company has a robust revenue growth with strong operating leverage
Stock Market LIVE: Ola Electric’s Board To Consider Fundraise
Ola Electric Mobility Ltd.’s board will consider fund raise proposal via share issuance and other means on Oct 25, the company said in the exchange filing.
Gold, Silver Prices Dip Further
Gold prices in India today slumped to Rs 1,22,320, after the festive season. On Tuesday, Gold prices slid the most in 12 years after a weeks-long furious rally.
Bullion’s record high prices fell by as much as 6.3% after hitting a fresh peak of $4,381.52 an ounce the previous day.
Gold prices in India today slumped to Rs 1,22,320, after the festive season. On Tuesday, Gold prices slid the most in 12 years after a weeks-long furious rally. Asia Markets LIVE: Nikkei 225 Falls Over 1%
Japan’s benchmark index Nikkei 225 was trading over 1% down in early tarde on Thursday. SoftBank Group is the second top dragger of the index as it fell nearly 7%. The bank announced that it will issue US dollar and Euro-dominated bonds as the company is increasing its investment in artificial intelligence.
The Nikkei 225 was trading 1.18% down at 48,727 as of 7:24 a.m.
LIVE: GIFT Nifty Hints At Negative Open; Ola Electric, Dr. Reddy’s Labs, LTIMindtree In Focus
The GIFT Nifty was trading 0.02% or 5.,50 points lower at 26,282 as of 7:10 a.m.. However, the level indicated the NSE Nifty may open around 350 points higher open for the Nifty 50 index.
Ola Electric Mobility Ltd., Dr. Reddy’s Laboratories Ltd., Federal Bank Ltd., and LTIMindtree Ltd. shares are in focus for Thursday’s session.
On Tuesday, in a special annual session, the NSE Nifty 50 and BSE Sensex ended flat after it pared most gains from the beginning of the special session. ICICI Bank Ltd. and Kotak Mahindra Bank Ltd. shares were top draggers.
The Nifty 50 ended 0.10% higher at 25,868.60, and the Sensex ended 0.07% higher at 84,426.
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