Nuvama has a ‘hold’ recommendation on Ambuja Cements with a target price of Rs 667 (+19%). The company is merging Shanghi Industries and Penna Cement with itself for operational efficiencies and to improve efficiencies. Analysts feel this decision to streamline the structure of the company is a welcome move.
Kotak Institutional Equities has given a ‘reduce’ reco on Indiamart Intermesh with a target price of Rs 2,350 (-0.5%). Analysts believe that there is no easy fix for the high churn that the company is facing that is leading to lower collection.
Yes Securities has initiated coverage of Hyundai Motor India with a ‘buy’ rating and a target price of Rs 2,194 (+23%). Analysts feel besides leveraging its strong parentage, HMIL is fast evolving in line with a dynamically changing tech landscape, which will slash lead times for new product development, make India franchise definitively robust, and help strengthen exports.
JP Morgan has initiated coverage on Swiggy with an ‘overweight’ reco and a target price of Rs 730 (+25%). Analysts expect the food delivery major catching up across both food delivery and quick commerce segments due to its renewed focus and improvement in execution.
Motilal Oswal Financial has a ‘buy’ call on MTAR Technologies with a target price of Rs 2,100 (+29%). It’s a clean energy company that derives a large part of its revenue from one company. Analysts feel since the transitory impact of the large client’s product changes is over now, MTAR Tech is expected to report strong growth in the near term in this segment, led by revival of orders from that large client and addition of new clients.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerages and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
