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The broader market indices opened higher; S&P BSE MidCap Index was up by 0.49%, whereas S&P BSE SmallCap Index was higher by 0.56%.
Five out of the 19 sectors compiled by BSE declined, while 14 sectors advanced in trade.
The market breadth was skewed in the favour of the buyers. About 1,714 stocks rose 522 declined, and 81 remained unchanged on the BSE.
Source: BSE
At pre-open, the S&P BSE Sensex Index was up 73 points or 0.12% at 60,722.39 while the NSE Nifty 50 Index was higher by 35 points or 0.20% at 17,950.40.
Source: Bloomberg
The yield on the 10-year bond rose about 2 bps to open at 7.12% on Friday.
It closed at 7.10% on Thursday.
Source: Bloomberg
The local currency strengthened by 2 paise to open at 81.82 against the greenback on Friday.
It closed at 81.84 on Thursday.
Source: Bloomberg
Maintains a 'Buy' and increases price target to Rs 1,150 from Rs 1,100
33% YoY growth in NII led by a 16% YoY rise in loans
Strong liquidity position will aid higher growth
Expects to deliver 17% growth in loans in FY24-25
FY24 earnings will drag followed by a stronger lift in FY25
Raised earnings forecast and Valuations are attractive
Source: Jefferies note
Maintains a 'Buy,' with price target of Rs 380
Strong revenue growth, margins surprise positively
Strength in Average room rate/Revenue per available room continues
Stellar performance for FY23 driven by strong recovery post relaxation of COVID restrictions
50:50 mix between owned/leased and managed hotels
Source: Jefferies note
Maintains 'buy' rating and cuts price target to Rs 2,875 from Rs 3,100.
Says key disappointment was lower-than-estimated volume growth at 4%.
Expects stock to stay range bound in near term unless sees signs of growth pick up.
Lowers EPS estimates by 1-2% to factor in Q4 miss.
Expects lower pricing growth to mute revenue growth in coming quarters.
Sees gradual gross margin recovery, but it would be reinvested in ad-spends.
Company focus on driving growth and market share.
Source: Jefferies note
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