Brokerages have their eyes on ITC Ltd., InterGlobe Aviation Ltd., Page Industries Ltd. and Nykaa's parent FSN E-Commerce Ventures Ltd. among others following the release of these companies' fourth-quarter results.
NDTV Profit tracks what the brokerages are putting out on specific stocks. Here are all the top calls from the brokerages that you need to know about on Friday.
NDTV Profit tracks what the brokerages are putting out on specific stocks. Here are all the top calls from the brokerages that you need to know about on Friday.
Citi On ITC
The brokerage maintains a 'buy' rating on ITC with a target price of Rs 515 per share versus Rs 500 apiece earlier. This implies a potential upside 17% from the previous close.
The company's fourth quarter was a miss on headline numbers.
Results impacted by weakness in agri and paper segments
Cigarette profitability surprised negatively.
Pressure on cigarette profitability could continue near term.
Taxation or adverse regulatory pronouncements could impact volumes.
Expects the margin pressure to continue in the next few quarters.
Nuvama On IndiGo
Nuvama retains its 'buy' call on InterGlobe Aviation with a target price of Rs 5,192 per share versus Rs 4,288 apiece earlier, implying a 18% upside from the previous close.
Q4 growth attributable to strong capacity addition, low ATF cost and rise in yields.
Growth partially offset by aircrafts on ground.
International sustained robust growth, led by codeshares and new routes.
Cost rationalisation to continue.
Revenue expected to be flat year-on-year in Q1 FY25.
Expects inflationary cost pressures to persist offset by capacity addition.
Citi On Nykaa
The brokerage retains 'sell' on FSN E-Commerce Ventures with a target price of Rs 170 per share, a downside of 2% from the previous close.
Q4 earnings were in line on the margins front, but valuations looks expensive.
Nykaa has upped marketing spend in the second half of fiscal 2024 to push new user acquisition in beauty personal care.
Non-BPC contribution profits improved at a slower pace.
Continues to build significant margin expansion ahead, led by improving CP margins in non-BPC.
Expects Ebitda margins at 6.4%/8.2% in FY25/26.
Citi On Page Industries
The brokerage reiterates its sell with a revised target price of Rs 32,100 per share versus Rs 31,300 apiece earlier. This implies a potential downside of 10% from the previous close.
Miss on all fronts and lacks any growth catalyst.
Expects Page's revenue growth momentum to remain subdued in near term.
Higher base of athleisure and likely aggression in accessories to drive adverse product mix and lower average realization year-on-year.
Remains cautious due to lack of near-term catalyst/company-specific initiatives to drive growth.
Key risk may arise from better-than-expected cost reduction.
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