Macquariehas initiated its coverage of Adani Ports & SEZ with an ‘outperform’ rating and a target price of Rs 1,500. According to analysts the company is well positioned to capitalise on India’s long-term growth potential due to its businesses’ thematic alignment with the nation’s development. Visibility of healthy recurring operating cash flows remains high, supported by mix and customer partnerships, they said.
Nomura has maintained its ‘neutral’ rating on Sun Pharmaceuticals with a target price of Rs 1,970 after the Indian pharma major announced it was buying Checkpoint Therapeutics for $355 million. Analysts feel the acquisition adds to the company’s specialty business. The company has a presence in Onco-derm (cancer of the skin) through Odomzo and Nidlegy.
Kotak Institutional Equities has a ‘sell’ rating on NMDC with a target price of Rs 55. Analysts feel the company is facing rising headwinds, both at home and abroad. They expect NMDC’s earnings to peak in FY2025 and then decline due to declining iron ore prices on increasing market surplus for seaborne iron ore and increasing supply pressure in India.
Morgan Stanley has an ‘overweight’ call on Bharat Electronics with a target price of Rs 364. The company has received new orders worth Rs 843 crore. Major orders include RF seekers, Vessel, air traffic management systems, electro optic repair facility, radar upgradation, spares etc. Its overall order inflow for FY25 now stands at Rs 14,600 crore.
HSBC has a ‘buy’ rating on Maruti Suzuki with a target price of Rs 14,000. Analysts feel the domestic market outlook is uncertain in the near term while the management remains confident of export potential, especially for EVs. Deterioration in domestic demand or lack of export traction are downside risks to the company, they said.