Indian markets are prone to commerce increased on Wednesday, monitoring optimistic international cues, however there might be stock-specific motion during which international brokerage got here out with their stories on enterprise improvement, or earnings outlook.
We now have collated an inventory of suggestions from numerous international brokerage companies in keeping with a Zee Enterprise TV report:
Tech Mahindra: Impartial| Goal Rs 2000
JPMorgan maintained a impartial ranking on Tech Mahindra post-December quarter outcomes with a goal worth of Rs 2,000, which interprets into an upside of over 32 per cent from Rs 1,506 recorded on 1st February.
The corporate reported a 4.5 per cent year-on-year (YoY) rise in its consolidated web revenue for the December quarter at Rs 1,369 crore whereas on a quarter-on-quarter (QoQ) foundation, revenue was increased by 2.2 per cent.
Morgan Stanley maintained its Obese ranking on Tech Mahindra however slashed its goal worth to Rs 1,980 from Rs 2,100 earlier.
ITC: Obese| Goal 251
Morgan Stanley maintained its obese ranking on ITC with a goal worth of Rs 251, which interprets into an upside of over 10 per cent from Rs 228 recorded on 1st February.
For the second yr in a row, the finances stored the Tabacco tax charges unchanged that are optimistic for ITC. This allays one of many overhangs on the shares and will enhance investor confidence, mentioned the report.
Cholamandalam Funding: Obese| Goal Rs 710
Morgan Stanley maintained the obese ranking on Cholamandalam Funding with a goal worth of Rs 710 publish Q3 outcomes that interprets into an upside of over 8 per cent from Rs 654 recorded on 1st February.
The monetary providers firm Cholamandalam Funding and Finance Firm has reported a 28 per cent YoY rise within the web revenue at Rs 524 crore for the quarter ended December 31, 2021. It had posted a revenue of Rs 409 crore within the corresponding quarter final yr.
The Internet Curiosity Revenue (NII) grew 9 per cent on a YoY foundation to Rs 1,484 crore in opposition to Rs 1,364 crore posted final yr. The corporate’s gross NPA declined to five.85 per cent in Q3FY22 in opposition to 6.16 per cent reported in Q2FY22.
(Disclaimer: The views/strategies/recommendation expressed right here on this article are solely by funding specialists. Zee Enterprise suggests its readers to seek the advice of with their funding advisers earlier than making any monetary choice.)