Elara Securities India has a ‘buy’ rating on Zomato with a target price of Rs 300 (+40%). Analysts feel strained Oct-Dec quarter earnings were led by losses in quick commerce and slower GMV growth in food delivery. They do not expect quick commerce to be hit much by the entry of e-commerce, as both will coexist due to niche propositions.
Yes Securities has downgraded Dixon Technologies and given a ‘sell’ recommendation with a target price of Rs 15,138 (at par). Analysts believe the positives in the stock are already priced in. They continue to value the company highly as strong growth is expected to continue for the next couple of years. They however downgrade the stock as they feel risk-reward is not favorable.
Prabhudas Lilladher has downgraded Mangalore Refinery & Petrochemicals to ‘hold’ from ‘accumulate’ with a target price of Rs 137 (-3%). Although the company reported strong numbers for the Oct-Dec quarter, there could be some near-term weakness. Factoring in those, the rating has been downgraded.
Anand Rathi Share & Stock Brokers has given a ‘subscribe for long term’ on Denta Water & Indra Solutions, which is going for an IPO at a price band of Rs 279-294. The company is raising nearly Rs 221 crore from the offer that’s open till Friday, January 24. Analysts feel the IPO is fairly priced.
Motilal Oswal Financial Services has a ‘buy’ rating on APL Apollo Tubes with a target price of Rs 1,920 (+21%). Analysts feel with lower channel inventory and higher demand for primary steel products (led by the narrowing gap in primary and secondary steel prices), the company is likely to continue witnessing strong volume growth. They expect margins to improve sequentially in the next few months.
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