Auto Sector

Recommendation: Buy; Target price: Rs 1750

Although it climbed by almost 7% YoY to Rs 9,182.31 crore, the total revenue from operations fell short of the expected Rs 9,358 crore.

Consumer prices increased 0.8% in the June quarter, below expectations of 1.0% and the lowest increase since the third quarter of 2021, according to Australian data.

Recommendation: Buy; Target price: Rs 1650

The product is bioequivalent and therapeutically equivalent to the reference-listed medicine, Mozobil Injection, 24 mg/1.2 mL (20 mg/mL) of Genzyme Corporation.

The L&T board also gave the green light for a Rs 10,000 crore share buyback program

Analysts of IIFL Capital Services see COFO continuing on this trajectory by delivering 15%/25% USD revenue/EPS Cagr over FY23-25, driven by execution of strong deal wins and improving margins.

The reorganization will allow the company to capitalize on shared AFS.

Spot gold was unchanged at $1,964.14 per ounce, while U.S. gold futures moved up 0.1% to $1,965.90.

Despite the recent price run-up, analysts of IIFL Capital Services estimate distribution yield of 6.8%/7.3% over FY24/25 and 11% discount to NAV, implying a healthy total return of 17-18% over the next 12 months.