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• Citi maintained a Neutral rating on Lenskart and raised its target price to Rs 650 from Rs 600.
• The brokerage said execution remains strong and growth momentum is expected to continue.
• Lenskart continues to address multiple price segments, supporting store expansion and customer acquisition.
• Citi remains watchful of growth momentum in H2 given a higher base.
• It believes current valuations already reflect much of the growth and margin improvement potential.

Source: Citi

 

• Citi maintained a Buy rating on HAL with a target price of Rs 5,550.
• The brokerage said margin expansion was aided by operating leverage.
• Growth has remained strong even without meaningful contributions from the Tejas LCA programme.
• Citi sees scope for a re-rating once LCA deliveries begin.
• The next two years' order pipeline remains strong and execution visibility is healthy.

Source: Citi

 

• Yes Bank said its board has approved the establishment of a Medium Term Note Programme (MTNP), according to an exchange filing.
• MTNP (Medium Term Note Programme) enables the bank to raise funds through the issuance of debt securities in domestic and international markets over time.
• The development follows the bank's earlier approval to raise up to Rs 8,500 crore through debt instruments.
• The programme is expected to provide Yes Bank with greater flexibility in accessing capital markets and diversifying its funding sources.

Source: Exchange Filing

• Citi maintained a Buy rating on Bharti Airtel with a target price of Rs 2,230.
• The brokerage said Airtel's latest measures are consistent with management's premiumisation strategy.
• It estimates the move could boost ARPU by around Rs 4 per month and lift earnings by around 2%.
• Citi expects premiumisation to remain a key growth driver.

Source: Citi

 

• Citi said the RBI's draft directions on interest rates are aimed at improving transparency, standardisation and borrower protection across lenders.
• The brokerage expects the overall impact on the sector to be manageable.
• It noted that an APR ceiling could affect lenders dependent on high-yield, small-ticket loans.
• Compliance costs and implementation complexity could be meaningful in the near term.
• However, the transition deadline of April 2029 provides sufficient time for lenders to adapt.

Source: Citi

 

• UBS maintained its 'Buy' rating on Bosch and raised the target price to Rs 54,050 from Rs 45,530.
• The brokerage described Q1 as a "beat-and-raise" quarter.
• UBS said Bosch's legacy businesses delivered strong revenue growth and margin improvement.
• Lower employee and operating costs also contributed to better profitability during the quarter.

Source: UBS

 

• Black Box said it has secured a Rs 1,240 crore order for a major data centre project in the US, according to an exchange filing.
• The contract has been awarded by a new Tier-1 US hyperscaler, marking a significant addition to the company's order book.
• The project underscores Black Box's growing presence in the global data centre infrastructure and digital connectivity space.
• The order is expected to strengthen the company's position in the hyperscale data centre segment and enhance revenue visibility.

Source: Exchange Filing

• Power Grid Corporation of India said the government has appointed Amol Babulal Taori as Director (Finance), according to an exchange filing.
• Taori is currently serving as Executive Director at Hindustan Petroleum Corporation Ltd. (HPCL).
• He has been appointed as Director (Finance) for a period of five years from the date of assumption of charge or until further orders, whichever is earlier.
• The appointment strengthens Power Grid's top management team at a time when the company continues to expand its transmission network and capital expenditure pipeline.

Source: Exchange Filing

• UBS maintained a 'Buy' rating on Astral with a target price of Rs 1,950.
• The brokerage said Astral continues to gain market share despite flat industry volumes.
• Q2 demand trends remain encouraging, according to UBS.
• The brokerage expects Astral's decentralised manufacturing model and favourable PVC prices to support profitability and market share growth.

Source: UBS

 

• JPMorgan maintained its 'Overweight' rating on HAL and increased its target price to Rs 5,733 from Rs 5,145.
• The brokerage said HAL's strong Q1 performance raises confidence in FY27 guidance.
• Deliveries of the LCA Mk1A remain a key monitorable.
• HAL continues to target double-digit growth in FY27, led by manufacturing.
• JPMorgan said HAL's valuation remains attractive given its sizeable order book and healthy return ratios.

Source: JPMorgan

 

• Bank of America maintained a 'Neutral' rating on TCS with a target price of Rs 2,365.
• The brokerage is assessing the implications of changes in Tata Sons' leadership.
• It believes major organisational restructuring is unlikely before 2028.
• BofA said N. Chandrasekaran's familiarity with the business helped in strategic planning, AI-services initiatives and customer relationships.
• The brokerage sees limited risk over the next 12 months given the current CEO's tenure runs until May 2028.

Source: BofA

 

• HSBC maintained a 'Buy' rating on Bharti Airtel with a target price of Rs 2,500.
• The brokerage said Airtel's initiatives are aimed at increasing mobile ARPU.
• HSBC believes the strategy aligns with the company's focus on premiumisation, tariff repair and strengthening mobile monetisation.

Source: HSBC

 

• Goldman Sachs maintained its 'Buy' rating on Lenskart and raised its target price to Rs 715 from Rs 625.
• The brokerage said the company's growth and margin flywheel continues to deliver.
• International operations saw significant margin expansion aided by strong same-store sales growth.
• In India, revenue growth was volume-led, while operating leverage drove margin expansion.
• Goldman Sachs highlighted premiumisation as a new growth vector for the company.

Source: Goldman Sachs

 

• Nomura maintained its 'Buy' rating on Hindustan Aeronautics Ltd. (HAL) and raised its target price to Rs 6,314 from Rs 6,040.
• The brokerage said HAL beat estimates across key parameters in Q1 FY27.
• Order visibility remains strong, supported by a manufacturing order book-to-bill ratio of around 25x.
• Nomura expects an FY26-FY29 earnings CAGR of 19%.
• The brokerage said execution visibility remains healthy.

Source: Nomura   

 

• Goldman Sachs maintained its 'Neutral' rating on Trent and trimmed its target price to Rs 2,960 from Rs 3,000.
• The brokerage said like-for-like (LFL) growth could remain muted by design as the company accelerates store expansion.
• Around 80% of new stores are being opened in Tier-2 and Tier-3 cities, where sales throughput is typically lower.
• Goldman Sachs believes Trent's sales growth could miss consensus expectations in FY27.
• Raw material inflation could exert pressure in Q2 and Q3, though the company is expected to mitigate some of the impact through product mix.

Source: Goldman Sachs

Asian markets were mixed in early trade on Thursday. Japan’s Nikkei 225 surged 1.40% to 68,471.28, while Australia’s S&P/ASX 200 fell 0.50% to 9,163. Shanghai Composite slipped 0.01% to 3,946.30.

Overall, Asian equities were supported by gains in technology stocks and easing concerns over an immediate US rate hike following softer inflation data. (ndtvprofit.com)

US stocks ended mixed on Wednesday, August 12, as investors assessed softer-than-expected inflation data and fresh corporate earnings.

The S&P 500 rose 0.26% to 7,748.50, while the Nasdaq Composite gained 0.54% to 26,588.49, helped by strength in technology and AI-related stocks. 

The Dow Jones Industrial Average slipped 0.04% to 53,770.27, while the Russell 2000 advanced 0.61% to 3,045.48. (AP News)

US Market Close:

• Dow Jones: 53,770.27 ▼ 21.58 points, -0.04%

• S&P 500: 7,748.50 ▲ 20.30 points, 0.26%

• Nasdaq: 26,588.49 ▲ 143.04 points, 0.54%

• Nasdaq 100: 29,742.60 ▲ 217.13 points, 0.74%

• Russell 2000: 3,045.48 ▲ 18.37 points, 0.61%

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