Brokerages shared the latest views and insights on Bajaj Finance Ltd., Britannia Industries Ltd., Emami Ltd., Global Health Ltd., Syrma SGS Technology Ltd., and Vodafone Idea Ltd. as most of these companies released their second-quarter results on Monday.
Morgan Stanley and CLSA hiked the target price of Bajaj Finance shares. Citi Research hiked the target price for Vodafone Idea. Meanwhile, Jefferies reduced the target price for Emami Ltd.
Brokerages On Bajaj Finance
CLSA
Maintain Outperform; Hike target price to Rs 1,200 from Rs 1,150
Decent quarter; Well balanced quarter
Pruning growth in a tough environment
Asset quality to get better in H2FY26
Stock may be rangebound in the near term, but a good compounder for the long term
Macquarie
Maintain underperform with target price of Rs 765
Q2: In-line PAT; NIM to remain stable around current levels
Credit cost guidance at 195 bps; growth guidance cut 200bps
Stock not factoring decline in AUM growth guidance, higher credit costs
Morgan Stanely
Maintain Overweight; Hike target price to Rs 1,195 from Rs 1,150
Second quarter: In-line Results; Mixed Commentary
Cut in FY26 AUM growth guidance and stable NIM is likely to disappoint investors
Positives include likely meaningful fall in credit costs from here and continued cost efficiencies
See likely near-term stock weakness as a chance to add
Sharp post-results drawdowns in stock followed by eventual recovery are not uncommon; seen both post Q4FY25 and Q1FY26 results
Citi Research On Vodafone Idea
Maintain Buy (High Risk) with a target price of Rs 14
Second Quarter: EBITDA Slightly Ahead
All Eyes on Debt Raise + Gov’t AGR Relief
AGR relief could pave the way for VI to complete its pending debt raise
This should enable it to deliver on its Rs 50,000-55,000 cr 3-year capex plan
Jefferies On Emami
Maintain Buy and cut target price to Rs 660 from Rs 770
Another Miss in Another Quarter
Reported the worst qtr with 16% volume decline
Management expects a recovery ahead
Cut EPS by 7-9%
Stock trades at a discount to peers but a growth pick-up is a must for a sustained re-rating
Morgan Stanley On Britannia Industries
Maintain Equal-weight with a target price of Rs 5,469
Varun Berry tendered resignation after a long 13-year tenure
Also resigned from another Wadia group entity - Bombay Dyeing
Rakshit Hargave who was to take over as Executive Director and CEO, will now be joining as MD & CEO for a five-year term
Board remains confident that the company can attain new heights under the new management team
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