Stock brokerages including Axis Securities, Emkay Global, LKP Securities, Motilal Oswal have come out with research reports on select stocks namely Eicher Motors, Zomato, M&M, and SBI. Here's what brokerages said about these counters.
Axis Securities has a ‘Buy’ rating on Eicher Motors stock with a revised target price of Rs 3,800. According to the brokerage, Eicher Motors’ initiatives in community building and retail outlet expansion along with the transition to the uniform J series platform provide a robust foundation for the export market.
“The untapped domestic rural market for models such as Hunter provides the potential for domestic volume growth. The increasing competitive intensity in the >250cc segment is an evolving area and needs monitoring and could emerge as a key risk for the stock if the consumer acceptance of the competitive products increases in future,” said Axis Securities on Eicher Motors.
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Emkay Global has a ‘Buy’ rating on Zomato stock with a target price of Rs 110 per share as the company delivered a stellar operating performance, well ahead of expectations. It also posted profit for the first time. Management guides for over 60% YoY growth in Blinkit GOV and adj. EBITDA breakeven in the next four quarters.
“Zomato expects adjusted revenue to grow at over 40% for at least the next couple of years and remain profitable going forward. Considering the Q1 beat and strong outlook, we have increased FY24-26E revenue by 13-22%, with better margin
Trajectory,” said analysts at Emkay Global.
Brokerage firm LKP Securities has a ‘buy’ rating on Mahindra & Mahindra (M&M) stock with a target price of Rs 1,727 per share. The brokerage expects strong SUV run to continue as the semiconductor issue is minimum. Within the auto sector, the robust order book of Scorpio N variants, Thar, and XUV family should assist SUV growth in coming quarters, it said.
“M&M has over time exited its loss-making businesses and have turned around several businesses which would definitely gather confidence of shareholders. The company has identified several growth levers, which can leverage the core strength of M&M group and accelerate the growth for the company over the medium term. RBL stake acquisition and Temasek stake are both positive in our view,” said LKP Securities.
Brokerage firm Motilal Oswal has a ‘Buy’ rating on State Bank of India (SBI) stock with a target price of Rs 700 per share. The brokerage believes that SBI’s business growth remains modest in a seasonally weak quarter and the bank expects to gain healthy
traction in the coming quarters.
A higher mix of floating loans (MCLR), which could benefit further from re-pricing will continue to support the NII and overall earnings of State Bank of India (SBI) even as the deposit cost could increase, said analysts at Motilal Oswal.
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