HDFC Securities has reviewed the second-quarter earnings of 15 companies across banking, financial services, insurance, pharmaceuticals, technology, steel and consumer businesses. The brokerage's latest assessment reflects a mixed earnings season, with healthy loan growth, improving operating performance and business expansion supporting some companies, while margin pressures, subdued demand and regulatory concerns continue to weigh on others.
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HDFC Securities Institutional Equities
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HDFC Securities has reviewed the second-quarter earnings of 15 companies across banking, financial services, insurance, pharmaceuticals, technology, steel and consumer businesses. The brokerage's latest assessment reflects a mixed earnings season, with healthy loan growth, improving operating performance and business expansion supporting some companies, while margin pressures, subdued demand and regulatory concerns continue to weigh on others.
In its report, HDFC Securities maintained Buy ratings on Info Edge (target price: Rs 1,475), Piramal Pharma (Rs 270), City Union Bank (Rs 270), Tanla Platforms (Rs 815) and MedPlus Health Services (Rs 880).
The brokerage retained Add ratings on Cholamandalam Investment and Finance Company (target price: Rs 2,000), Steel Authority of India or SAIL (Rs 200), Max Financial Services (Rs 1,520), Star Health and Allied Insurance (Rs 650), PNB Housing Finance (Rs 1,220), Home First Finance Company India (Rs 1,260), Birlasoft (Rs 365) and Route Mobile (Rs 610).
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Meanwhile, Bandhan Bank and Bajaj Electricals retained Reduce ratings, with target prices of Rs 165 and Rs 320, respectively.
Overall, the brokerage maintained five Buy, eight Add and two Reduce recommendations across the 15 stocks. Based on the share prices cited in its report, MedPlus Health Services offers the highest target-implied upside of approximately 44%, followed by Route Mobile at 40% and Tanla Platforms at 36%. These figures reflect the brokerage's target prices rather than guaranteed returns.
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