Kotak Institutional Equities maintained a buy rating on Federal Bank and Jefferies recommended a buy on Dalmia Bharat.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on HDFC Bank: Buy| Target Rs 2030
Jefferies maintained a buy rating on HDFC Bank with a target price of Rs 2030. Higher liquidity buffers drag margins, but it will improve from Q4 onwards.
Deposit mobilisation remains stronger. The global investment bank sees a lift from branch addition & selection.
The loan growth remains slow but can improve. The bank is well provided for potential stress, which is a positive sign.
Axis Capital on Deepak Nitrite: Buy| Target Rs 2520
Axis Capital initiated coverage on Deepak Nitrite with a buy rating and a target price of Rs 2520. Import substitution-led growth opportunity offers a long runway for growth. The global investment bank sees 19% EBITDA CAGR over FY23-30. It believes that the worst is over and expects earnings uptick to be the key trigger.
Kotak Equities on Federal Bank: Buy| Target Rs 170
Kotak Institutional Equities maintained a buy rating on Federal Bank but raised the target price to Rs 170 from Rs 160 earlier.
The net interest margins (NIMs) held up for the quarter. The asset quality metrics continue to show stable trends, resulting in negligible credit costs.
Federal Bank is a preferred pick among mid-tier banks. There are a few positive surprises ahead that can result in an immediate re-rating.
Jefferies on Dalmia Bharat: Buy| Target Rs 2680
Jefferies maintained a buy rating on Dalmia Bharat but raised the target price to Rs 2680 from Rs 2440 earlier.
The management call indicated that the east region has seen Rs 40-50/bag price increase in Q3 so far and the South has seen a Rs 30/bag hike.
The Q2 saw healthy cost savings for Dalmia on fuel/freight, but incremental savings appear limited.
The management expects recent volume underperformance to reverse. It expects H2 to be superior in hopes of sustaining price hikes.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price