Kalyan Jewellers India Ltd., Creditaccess Grameen Ltd., Allied Blenders & Distillers Ltd. and Ambuja Cements Ltd. will be the key stocks on brokerages' radar on Friday.
Goldman Sachs gave a double downgrade to Creditaccess Grameen and cut target to Rs 564 per share, implying a 42% downside from the previous close. Bernstein and Morgan Stanley have also given their take on the impact on insurance companies over potential changes to bancassurance norms.
NDTV Profit tracks what the brokerages are putting out on stocks and sectors. Here are all the top calls from analysts you need to know about on Friday.
Goldman Sachs gave a double downgrade to Creditaccess Grameen and cut target to Rs 564 per share, implying a 42% downside from the previous close. Bernstein and Morgan Stanley have also given their take on the impact on insurance companies over potential changes to bancassurance norms.
NDTV Profit tracks what the brokerages are putting out on stocks and sectors. Here are all the top calls from analysts you need to know about on Friday.
Citi On Kalyan Jewellers
Citi maintained a 'buy' rating with a target price of Rs 810 per share, an upside of 14.5%.
Working on a pilot franchise model, investing Rs 200–300 crore.
Aspires to achieve revenue growth of over 30%.
Profit before tax growth expected to outpace revenue growth in the medium term.
Aims to become debt-free within the next three years.
No visible impact from lab-grown diamonds observed.
Nuvama On Engineering And Capital Goods
Order inflows up 11.6% year-on-year to Rs 1.4 lakh crore.
Revenue surged 19.4% year-on-year to Rs 1.1 lakh crore driven by strong earnings.
Large ticket-size orders are expected over next 12–18 months.
Power segment margins shot up to 15–20% in the second quarter.
Premium valuations remain a key concern, leaving little room for error.
Goldman Sachs On CreditAccess Grameen
The brokerage gave a double downgrade to 'sell' from 'buy' and cut target to Rs 564 per share, implying a 42% downside from the previous close.
Expects a further build-up of stress due to over-leveraging in the industry.
Negatively surprised by the accelerating decline in asset quality in second quarter.
Views the recent sector derating as structural rather than cyclical.
Citi On Divis Labs
The brokerage retained 'buy' with a target price of Rs 6,850 per share, an upside of 14% from the previous close.
Entresto may last longer for Divis–takeaways from CPHI (a pharma industry trade fair).
Company marketing Entresto APIs for generics suggests product is unlikely to decline.
Entresto marketing is irrespective of the patent expiry and generic entry.
The company clarified on contrast media pipeline where two more products in validation phase.
Divi's Laboratories Ltd. remains top pick in Indian pharma.
Growth in Entresto and Contrast media may drive consensus upgrades.
Bernstein On India Life Insurance
Regulatory scrutiny on bank sales intensifying.
Negative for SBI Life Insurance Co., HDFC Life Insurance Co. and Max Financial Services Ltd.
The proposal would prove difficult to implement, detrimental to growth.
Bad for private insurers and distribution partners.
Life Insurance Corp., ICICI Prudential Life Insurance Co. and PB Fintech Ltd. stand to gain.
Also Read: Five Stocks To Buy: How To Trade PNB, Aegis Logistics, Container Corp, Engineers India, BHEL
Morgan Stanley On India Life Insurance
IRDAI is likely to have asked insurers to limit the bancassurance business.
Bancassurance business to be limited to about 50% of individual APE.
IRDAI may consider capping parent bank's percentage share.
Share pertains to insurers' total banca business.
Move likely to be negative for APE growth.
Stocks likely to stay under pressure until clarity emerges.
Motilal Oswal On Ambuja Cements
Motilal Oswal maintained 'buy' on Ambuja Cements, with target price at Rs 710 per share, a 38% upside from the previous close.
Stock now at attractive valuations post 30% correction in last four-five months.
Company to benefit from demand and price recovery, cost saving initiatives.
Pent-up demand, higher construction and infra projects to help demand recovery.
The company is expected to remain net cash positive; has enough operating cash flows for organic expansion.
Expects Ebitda/tonne to rise to Rs 1,160 per share by FY27 versus Rs 870 expected in fiscal 2025.
Expects revenue/Ebitda to grow at 12%/16 CAGR over fiscal 2024-27.
ICICI Securities On Allied Blenders
The brokerage initiated 'buy' with a target price of Rs 400 per share, a 24% upside from the previous close.
Well positioned to capture premiumisation trend in industry.
Portfolio enhancement to drive double-digit volume growth in premium and above segment.
Backward integration to drive long-term growth and profitability.
Expects revenue and Ebitda CAGR of 10% and 30%, respectively, over fiscal 2024-27.
Key risks include significant downtrading due to tax hikes and a potential ban on spirits in states.
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