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J. P. Morgan Has maintained its ‘overweight’ stance on the cement company Dalmia Bharat 1,680 over the counter with a target price of Rs. However, it has further cut its consensus earnings for the company.
The brokerage said the earnings outlook remains bleak, though Q2 should be at the bottom and pricing power would be limited if coal prices remain high. “The recovery in the second half will depend on how fast coal and energy prices fall,” it said.
Another foreign broker Morgan Stanley With a target price of Rs 225, M&M Finance maintained its ‘overweight’ stance on M&M Finance as it believes that the share price will move up relative to the country’s index in 45 days.
According to the brokerage, the Q1FY23 update is strong on loan growth and asset quality front and disbursements for June were stronger than anticipated. “The valuation looks attractive and the overall Q1 result will be a positive surprise for investors,” it said.
on financial, brokerage CLSA Said that prior-quarter disclosures showed healthy business momentum and growth momentum across the board.
And several lenders, including First, have released their pre-quarter disclosures. According to CLSA, credit growth has been a positive surprise for both the banks.
“Valuations are low for mid-sized banks and asset quality issues are fading away,” it said. What will be important is how well they survive the cycle of increasing interest rates.
Commenting on RBI’s approval for the merger of
Twins, the global brokerage firm, said it is a big step towards completing the process.
However, the bank has indicated that there is no objection subject to certain conditions. Earlier, both the entities – HDFC and
Approval was received from BSE and National Stock Exchange (NSE).
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. They do not represent the views of The Economic Times)
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