EBIT
Mid and small IT companies showed sustained improvement in revenue, profit share in March ’24 quarter
Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies.
Initiating Coverage: Brokerage sees 10-26% upside in Coforge, Man Industries & Bandhan Bank
Emkay has initiated a buy rating on Man Industries with a target price of Rs 500, indicating a 26% upside from the current price of Rs 394.
Kotak Institutional Equities initiates coverage on Coforge, sets Rs 6,000 as target price
Kotak analysts anticipate a robust 20.2% CAGR in earnings per share for FY2024-27E. This growth is driven by a 12.3% organic revenue CAGR and a 150-basis point expansion in EBIT margins.
Hot Stocks: Brokerage view on Bandhan Bank, HDFC Bank, Tech Mahindra and Amara Raja
Brokerage firms like Citigroup, JPMorgan, and Bernstein provide ratings on Tech Mahindra, Amara Raja Batteries, and HDFC Bank. ETNow and other sources collated the recommendations, including Citigroup's sell rating on Tech Mahindra with a raised target price.
Kotak Institutional Equities bets on Godrej Agrovet’s turnaround story, sees upside potential of over 9%
Godrej Agrovet (GAVL) shifts focus to value-added segments with cost-cutting measures. Kotak Institutional Equities upgrades stock to 'buy' with target price of Rs 740, expecting sustainable turnaround in crop protection and dairy sectors.
Hot Stocks: Brokerages view on Kotak Bank, Tata Motors, Uno Minda, and Tata Technologies
Macquarie upgraded Kotak Mahindra Bank, City Union Bank, and Bandhan Bank to outperform with raised target prices. They downgraded SBI to underperform but increased its target price.
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R R Kabel shares zoom 6% after posting 20% YoY jump in net profit. Should you invest?
R R Kabel's shares surged 6% on BSE to Rs 1,820.80 after reporting a 20.6% YoY increase in profit after tax to Rs 78.7 crore. The company's revenue rose 15.7% YoY to Rs 1,754 crore, with EBITDA margin at 6.6%.
ITC share price targets go well beyond Rs 500 after Q4 results. Should you buy, sell or hold?
ITC's Q4 results disappoint investors, shares drop nearly 1% to Rs 437.85. Brokerages raise target prices up to Rs 540. Citi sets target at Rs 515, warns of regulatory impact. Morgan Stanley targets Rs 506, CLSA at Rs 470. Motilal Oswal sees defensive potential, Kotak trims EPS, targets Rs 465. JM Financial holds highest target of Rs 540, emphasizes on cigarette volume growth and capital allocation strategy for rerating.
Hot Stocks: Brokerage view on BSE, Indigo, ITC; Goldman downgraded Gujarat Pipavav
Goldman Sachs maintains buy on ITC with a target of Rs 480, downgrades Gujarat Pipavav to neutral, raising target to Rs 220. BofA Securities retains buy on InterGlobe Aviation, target Rs 4900. Investec initiates buy on BSE, target Rs 3400, citing market share gains and attractive valuations.
Crompton shares zoom 16% to a new 52-week high. Here’s why?
Crompton's shares surged 16% in today's trading session, reaching a new 52-week high of Rs 394, following the announcement of its highest ever quarterly standalone revenue of Rs. 1,797 crore. The company also reported a significant 22% year-on-year increase in net profit, amounting to Rs 160.97 crore, with an EBIT margin of 9.8%.
Tata Motors likely to lose some zip on D-St after a roaring FY24
FY24 was a remarkable year for the company with record revenue, profits and dividend helped by superior performance in domestic and overseas businesses. The stock nearly doubled during the year, a reflection of investors’ recognition of its upbeat show. However, the growth is likely to moderate in the near term.
Hot Stocks: Brokerage view on Tata Motors, Eicher Motors, Bank of Baroda and Polycab
Brokerage firm Jefferies upgraded Bank of Baroda to a buy, Citigroup has a buy rating on Polycab, Jefferies maintained a buy rating on Eicher Motors and Morgan Stanley downgraded Tata Motors to Equal Weight.
Tata Motors sees a relatively weak H1, set to shed net automotive debt though in FY25
Tata Motors anticipates achieving net automotive debt-free status in FY25 following record revenue, profits, and free cash flows. Its Indian business is debt-free. Despite caution regarding domestic demand in the first half, Tata Motors said it remains optimistic, particularly about the premium luxury segment, aiming for a robust performance in FY25.
Zomato shares may surge 18% as Blinkit likely to drive upside: Emkay Global
Emkay Global raises Zomato's target price from Rs 170 to Rs 230 per share, projecting an 18% upside potential, factoring in Blinkit's growth. With increased EPS and EBIT estimates, Blinkit's improved product-market fit drives valuation changes, indicating market expansion in metros and large cities.
SRF expects demand-supply imbalance, margin pressures in BOPET to continue
SRFLimited, an Indian chemicals business, anticipates ongoing demand-supply imbalances and margin pressures in the BOPET sector in the short to medium term, according to a stock exchange filing. However, the agrochemicals segment shows signs of improvement following inventory rationalization in FY24, with robust customer inquiries and progress in active ingredients (AIs) development.
Voltas shares drop 9% as margins disappoint across segments
Voltas Share Price: The company's Unitary Cooling Products (UCP) business continued to outperform the market and maintained its growth momentum. While the overall volumes grew by 27%, the YoY growth for air-conditioners was even higher at 35%. Voltas continues to be a market leader both in Split and Window Air-conditioners with a YTD market share of 18.7% as at March 2024.
Titan shares tank 7% post Q4 results. Should you buy, sell, or hold?
Titan Share Price: Titan's shares plummeted by nearly 7% as it reported a 7% YoY increase in standalone net profit at Rs 786 crore. Despite a 17% YoY growth in net sales to Rs 10,047 crore and a dividend recommendation of Rs 11 per share for FY24, EBIT margins dipped.
Nuvama downgrades Titan, cuts target price to Rs 3,867 post Q4 results
The downgrade came after the company reported a 9% miss in consensus earnings driven by weaker jewellery margins for two consecutive quarters.
Tata Chemicals Q4 Results: Co in red after 9 years on one-time charge, poor soda ash demand
India's Tata Chemicals reported its first quarterly loss in nine years on Monday, hurt by a one-time charge incurred in its UK operations along with lower prices and demand of soda ash.
HCL Tech shares fall 6% after Q4 results. Should you buy, sell or hold?
HCL Technologies shares dropped 6% after reporting Q4FY24 results. Various brokerages offered different perspectives, with targets ranging from Rs 1,300 to Rs 1,700. The company's performance and guidance for FY25 were key points of analysis.
Persistent’s Healthcare deals signal balanced growth in quarters ahead
The company’s revenue increased by 3% sequentially in the December quarter to $300.6 million, one of the highest growth rates among peers. In rupee terms, it rose by 3.6% to Rs 24,982.2 crore while net profit grew by 8.7% to Rs 2,861.3 crore.
On track to exit FY 24 with 17-18% EBIT margin: Debashis Chatterjee, LTIMindtree
We have not come across any budget cuts. We have not come across any major cancellations. The only thing which we have come across is slowdowns. And as I said, we kind of live in very paradoxical times.
We will deliver between 12% to 13% EBIT for jewellery business in FY-24: Ashok Sonthalia, Titan
Like for last 10-12 months, I would say, we have been seeing the volatility in prices and oscillation in consumer sentiments, sometimes they are there and sometimes there are dull moments, fortnights when nothing is happening which was the characteristic of quarter one as well which we just concluded and we delivered about 19-20% growth there.
TCS rolls out salary hikes, takes 200-bps impact on operating margin
"We have gone ahead and rolled out our annual salary increase with effect from April 1st. Our operating margin of 23.2% reflects the 200-bps impact of this hike, offset through improved efficiencies," TCS CFO Samir Seksaria said.
Online fashion retailer Zalando to focus on profitability after 2022 slump
In February, Zalando said it was cutting hundreds of jobs across its workforce of 17,000, saying it had expanded too much and citing a difficult economic environment since the coronavirus pandemic.
Mahindra can outpace rivals on strong automotive, tractor sales
On an absolute basis, the operating profit of the automotive business grew about three times to ₹989 crore in December 2022 and it has been consistently improving for six quarters in a row. The dual benefit of margin expansion and volume growth is a vindication of its improving automotive franchise.
This multibagger Tata stock can rise over 21%, says ICICI Securities
TCPL reported consolidated revenue and EBITDA growth of 10.9% and 5% YoY, respectively. However, recurring PAT declined 20.5% YoY. Constant currency growth was 10%. The gross and EBITDA margin of the company declined 101bps and 73bps. While standalone revenues, EBITDA and PAT were up 7.2%, 25.1% and 20.9% YoY, respectively.
ICICI Securities downgrades ACC to ‘add’ as profit slumps to nearly 20-year low
The brokerage mentions that the company’s cement business reported an EBIT loss of Rs 1.4 billion as against Rs 5.5 billion during the same period last year
HCL Tech climbs nearly 3% ahead of Q2 results announcement
Its earnings before interest and taxes margin is likely to expand 30-100 bps sequentially from 17%
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