Brokerage Views: Motilal Oswal On Divi's Labs, Ashok Leyland; Citi On Mamaearth And More

Brokerages, from Citi to Motilal Oswal and Emkay, have their eyes on Divi's Laboratories Ltd., Ashok Leyland Ltd., Exide Industries Ltd., and Mamaearth's parent Honasa Consumer 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 Monday..The brokerage reiterated a 'neutral' rating on Divi's Labs with a target price of Rs 3,900 per share, implying a downside of 5% from the previous close.The company delivered a strong beat on earnings in 4QFY24.The revival is seen in the custom synthesis business.Raise their earnings estimates by 3% each for FY25 and FY26 on better demand, the addition of new technologies, and a higher number of product offerings in the generics segment.The company's value is 40 times its projected earnings for the next 12 months..The brokerage maintains 'buy' with a target price of Rs 245 per share, an upside of 16% from the previous close.The company's margins beat estimates, and the FY25 CV outlook remains positive.Key demand indicators are in place to drive CV growth.Lower discounts, cost control bode well for a double-digit Eibtda margin.Now the second-largest player in the 2.0-to-3.5 tonne segment.It raises their earnings per share estimates by 7% and 6% for fiscal 2025 and 2026, respectively, factoring in better gross margins and a lower interest burden..The brokerage upgraded the company to 'buy' with a target price of Rs 250 per share, an upside of 18% from the previous close.The brokerage sees upcycle potential in FY26.Contrary to Tata's flattish-to-negative guidance for the industry, Ashok Leyland guided for a positive FY25.The CV cycle has been more 'time correction' than a sharp volume drop.Pricing power and margin expansion for CV original equipment manufacturers will be sustained.Despite the 21% rise in stock price, it remains among the least-expensive origninal equipment manufacturers..Motilal Oswal maintains 'buy' with a target price of Rs 430 per share, implying a downside of 9% from the previous close.The outlook for lithium ion foray remains uncertain.Operating performance exceeded expectations, thanks to an improved mix and lower raw material costs.Industrial divisions are growing in double digits on a high base.Remain circumspect about the returns from lithium-ion business..Citi reiterated 'buy' and revised its target price to Rs 540 apiece from Rs 550 per share. This implies an upside of 26% from the previous close.Performance was partially impacted by a transition in GT distribution.The impact of this transition on general trade distribution is likely to continue in the near term.Sees the long-term benefits of the general trade distribution transition through improved service quality, market share gains, and potentially a wider assortment at these stores.The brokerage expects strong earnings growth and market share gains at Honasa, led by consumer-centric innovation, distribution expansion, entry into fast-growing categories within beauty and personal care, and continued margin expansion..Nuvama maintains its 'hold' rating with a target price of Rs 732 per share from the earlier Rs 651 apiece, this implies a potential upside of 8.2% from the previous close.Better-than-expected Ebitda reported in Indian operations. Increases FY25/26 consolidated Ebitda estimates by 8%/5%. Aluminium CoP to be under control on improved domestic coal supply and range-bound coal prices. FY25 profit to be higher YoY, hinging on aluminium price. Factors in LME aluminium price of $2,600/t in FY25/26.Expects consolidated net debt to rise to Rs 37,700 crore by FY26. Will be comfortable with net debt/Ebitda of 1.2 times. .Citi maintained its 'buy' call on the company and raised its target price to Rs 467 apiece, a 24.7% upside from the previous close.The company is the top pick in the Indian electric utilities segment.Its plan is to order 15.2 GW of thermal capacity to help grow the regulated equity base.The FY25 standalone capex guidance is at Rs 22,700 crore, compared to Rs 19,300 crore in FY24.Due to operational issues, adding renewable capacity is slow.The company plans to add 3 GW, 5 GW, and 8 GW in FY25, FY26, and FY27.Valuations are reasonable despite recent stock outperformance..Jefferies maintains its 'buy' rating on NTPC and raised its target price to Rs 445 per share, an upside of 19% from the previous close. Q4 results in line with brokerage expectations. Management guided 22.5 GW capacity addition over FY25–27. Muted FY24 renewable capacity additions due to module procurement delays, land acquisition issues. Sees improvement in earnings visibility for thermal segment. Confident that NTPC will be among the largest RE Indian companies in the next decade. .The brokerage initiates a 'buy' with a target price of Rs 100 per share. Sees three times Ebitda in five years. Evolving from utility to a retail consumption play. Strong air-traffic growth outlook and travel retail opportunity. Upward reset in aero tariffs and real-estate unlocking opportunity. .The brokerage maintains its 'buy' call and raised its target price to Rs 370 per share from Rs 305 apiece. This implies an upside of 16% from the previous close. FY25/26 profit after tax seeing minimal change as capex, capitalisation picking up. Gained market share in competitive bids awarded in FY24. Upside drivers are bid pipeline, higher dividend payout, higher return on equity. Smart metering also adds to the opportunity. .Stock Market Today: Nifty, Sensex Close Lower After Hitting New Record Highs.The brokerage maintains a 'buy' on NTPC and raised its target price to Rs 445 per share, a 19% upside from its previous close. Q4 results in line with brokerage expectations. Management guided 22.5GW capacity addition over FY25-27. Muted FY24 renewable capacity additions due to module procurement delays, land acquisition issues.See improvement in earnings visibility for thermal segment. Confident that NTPC will be among the largest RE Indian companies in the next decade. .The brokerage maintains 'overweight' on on Bharat Petroleum Corp, Indian Oil Corp. Integrated margins have recovered due to easing feedstock prices. Refining margins for BPLC, IOCL are above midcycle margins. Solid marketing margins as crude prices declined. Expect refining margins to improve as seasonal demand tailwinds gather momentum. .The brokerage retains 'hold' with a target price of Rs 205 per share from the earlier Rs 190 apiece, implying a downside of 3% from the previous close. Ebitda/Profit after tax 9% above Jefferies estimates. Expect a capex led economic cycle to fuel demand growth ahead. Historical truck upturns usually last 4-5 years, currently in third year. Overall market share recovered from 2022 low of 27% to 31-32%. Like improving margin trajectory, stock might remain rangebound until demand visibility improves. .Citi maintains 'buy' on the company and raised the target price to Rs 364 per share, a 13% upside from the previous close. FY25 capex guidance of Rs 15,000 crore inline. transmission capex opportunity size is improving over medium term. Company offers low-risk exposure to India’s growing power sector capex. Restart of capex growth, increasing opprotunity size to help sustain trading multiples. Tweaks FY25/FY26 earnings per share estimates by 4%/3%. .The brokerage maintaines its 'buy' call and revised itr target price to Rs 870 per share from Rs 760 per share. Encouraged by progress in monetisation of client wins in international segment and expects more in the future. Overseas ramp-up better with encouraging client wins in global markets and AIF business. Raise estimates by 3-4% and see 23% profit CAGR over FY24-27 and is among top midcap picks.Builds higher revenue growth in international, led by better ramp-up of overseas markets and stronger growth in alternatives. .The brokerage reiterates 'neutral' rating on the company with a target price of Rs 225 per share. Margin beat but growth outlook still remains uncertain for FY25. Margin growth led by cost control, mix and pricing discipline. Management is positive on the F25 truck industry. Sees speed bumps on election & delayed replacement cycle, LCV portfolio expansion good switch on right track. Margin reset drives EPS upgrades.

Brokerage Views: Motilal Oswal On Divi's Labs, Ashok Leyland; Citi On Mamaearth And More

Here are all the top calls from the brokerages that you need to know about on Monday.

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