Recommendation: Add; Target Price: Rs 3575
Recommendation: Sell; Target Price: Rs 275
Recommendation: Buy; Target Price: Rs 650
GAIL’s Q4FY23 was down 78% YoY and marred by non-recurring ~Rs. 10 billion expenses towards provision of a pipeline, non-availability of APM gas for internal consumption, etc.
Motherson’s margins have been under pressure in recent quarters, primarily due to sharp rise in energy costs, following the outbreak of Russia-Ukraine conflict.
Government of India has recently revised Nutrient Based Subsidy (NBS) rates for Rabi (January-March 2023) and announced new NBS rates for ensuing Kharif season.
Recommendation: Add; Target Price: Rs 860
Analysts at IIFL Capital Services estimate the listed AMCs (except UTI AMC) to see 20-28 basis points cut in Equity TER leading to 30-35% earnings cut (assuming 100% is absorbed by AMCs).
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