Broker Radar for May 17

Check out the stock commentaries and recommendations from brokerage houses.

May 17, 2019 02:05 IST India Infoline News Service

Deutsche Bank Research maintained ‘Hold’ on Bajaj Finance; hiked TP to Rs2,700 from Rs2,400.
  • March Quarter Review: strong all-round quarter.
  • Pristine asset quality; PCR maintained at 60%.
  • Confidence of broad-based growth rising; rural grows faster.
JPMorgan maintained ‘Overweight’ on Bajaj Finance; hiked TP to Rs3,500 from Rs3,400.
  • March quarter beat estimates, driven by higher loan growth and steady cost income.
  • Unsecured business leverage looks to be under control. Execution on housing will be key in FY20-22.
CLSA maintained ‘Sell’ on Hindalco with TP of Rs180.
  • Weak India business performance in March quarter.
  • Falling aluminium cost curve and slowing global auto pose headwinds.
  • Concerns on both – Indian and Novelis business.
CLSA maintained ‘Buy’ on Arvind Fashions; cut TP to Rs1,126 from Rs1,294.
  • March quarter was subdued due to weaker demand environment.
  • Portfolio consolidation to improve capital efficiency.
  • Margin recovery in value retailing format is key.
Morgan Stanley maintained ‘Underweight’ on Bank of India with TP of Rs80.
  • Moderation in slippages was the key positive.
  • Good asset quality; pre-provisioning operating profit was miss on higher cost.
  • Loan growth was muted and flat.
UBS maintained ‘Sell’ on Punjab National Bank; cut TP to Rs64 from Rs70.
  • Stake sale cancelled; given low capital cushion, expect bank to cede market share.
  • Despite capital infusion, tier-1 capital to stay under pressure.
  • Stock appear cheap, by earnings to remain weak in the current and the next financial year.
Source: Media Reports

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