Nomura maintained its ‘buy’ rating on Kotak Mahindra Bank but cut the target price from Rs 2,170 to Rs 2,110 (+10%) after the lender announced its Oct-Dec quarterly numbers. Analysts feel the bank has given a healthy performance in a tough macro environment, with a stable asset quality. The price was cut since analysts see a slightly lower growth of loans.
Morgan Stanley has maintained its ‘equal weight’ on TechMahindra with a slightly elevated target price of Rs 1,750 (+5%), from Rs 1,725 earlier. Analysts feel upside risks to margins appear low while the company’s portfolio mix keeps revenue growth forecasts conservative.
Jefferies has maintained its ‘buy’ rating on Lodha (Macrotech Developers) with a target price of Rs 1,615 (+34%). Analysts feel the company provides a good entry opportunity for long-term investors. Its core market, the Mumbai metropolitan region, remains healthy. They also feel that infrastructure development around Lodha’s Palava township will drive residential premiumisation and rising land realizations over the next few years.
Elara Securities has a ‘buy’ rating on Metro Brands with a reduced target price of Rs 1,457 (+21%) from Rs 1,873 earlier. Analysts feel the company is well positioned to leverage the improvement in demand, led by strong brand positioning and recall, continued store expansion and strong free cash flow generation. They say that the risks to their rating are lower-than-expected new store openings and extended subdued demand trends.
Emkay Global Financial Services has an ‘add’ rating on Indian Hotels with a target price of Rs 840 (+6%). Analysts feel the hospitality major’s diversified portfolio should continue to benefit from steady demand, even as the demand-supply mismatch should aid medium-term growth. They feel the company’s diversified revenue stream, operational efficiency, and strong balance sheet warrants a higher multiple.
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