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Brokerages rolled out fresh calls on Kotak Mahindra Bank, Hindustan Unilever, Avenue Supermarts, Dr Lal PathLabs, and Adani Ports and Special Economic Zone, while also flagging trends across cables, auto ancillaries and metals.
Morgan Stanley on Kotak Mahindra Bank
- Maintain Overweight; TP Rs 500
- PAT beat; NIM, NII and core PPOP ahead of estimates
- Slippages and credit costs declined sharply
- Management commentary confident
- Attractive valuation and earnings resilience
Morgan Stanley on Avenue Supermarts
- Maintain Overweight; TP Rs 5,188
- Slight margin miss
- LFL growth at 10.8%, highest in over two years
- No supply chain disruptions seen
- March demand spike normalized toward month-end
Citi on Avenue Supermarts
- Maintain Sell; TP raised to Rs 3,650
- Q4 beat driven by temporary demand spike
- Profit growth lagging revenue growth
- Store expansion expectations largely priced in
- Competitive intensity remains a key risk
Morgan Stanley on Hindustan Unilever
- Maintain Equal-weight; TP Rs 2,480
- Improving near-term growth visibility
- Pricing support to drive FY27 earnings
- Volume and pricing mix to rebalance
- Cost savings to offset inflation
Citi on Hindustan Unilever
- Maintain Buy; TP Rs 2,750
- Portfolio transformation gaining traction
- Pricing actions (2–5%) to offset cost inflation
- Further price hikes possible
- Well placed to gain market share
Morgan Stanley on Dr Lal PathLabs
- Maintain Overweight; TP Rs 1,819
- Q4 revenue growth at 16.6% YoY (15-quarter high)
- FY27 growth guided at 13–15%
- Sustained growth could drive re-rating
Citi on Dr Lal PathLabs
- Maintain Buy; TP Rs 1,700
- Strong Q4 growth and improved outlook
- Revenue guidance raised to 13–15%
- Positive on growth trajectory
Citi on Sona BLW Precision Forgings
- Maintain Buy; TP Rs 700
- Q4 ahead of estimates on strong revenue
- Railway segment a key positive
- EV recovery supportive, but margin headwinds remain
Citi on RR Kabel
- Maintain Buy; TP Rs 2,650
- Strong growth and margin execution
- Continued delivery key for re-rating
Citi on Jindal Steel & Power
- Maintain Sell; TP Rs 980
- Strong pricing supports Q4
- Some cost offsets visible
- EBITDA/t improvement possible
- Upside largely priced in
HSBC on Adani Ports and SEZ
- Maintain Buy; TP Rs 1,950
- Q4 EBITDA up 20% YoY; beat estimates
- FY27 guidance cautious but stable
- Targeting 18% EBITDA CAGR, 20% ROCE by FY31
- $9 bn M&A headroom; strong growth visibility
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