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Motilal Oswal has issued a bullish recommendation for APL Apollo Tubes, setting a target price of Rs 1750. Despite a challenging second quarter with a 62% YoY decline in EBITDA/MT due to inventory losses and price discounts, the company is expected to recover with improved margins and a strong growth outlook, projecting a CAGR of 20% in revenue from FY24-27.
IDFC First Bank's shares plummeted over 9% following a reported 73% drop in Q2 net profit, which fell to Rs 200.7 crore from Rs 751 crore a year earlier. Despite this decline, the bank's Net Interest Income (NII) rose 21% to Rs 4,788 crore. Motilal Oswal maintained a 'neutral' rating with a price target of Rs 73 per share.
DCB Bank reported a 22.6% YoY growth in PAT to INR 1.55 billion, driven by higher other income, while NII grew 7% YoY to INR 5.1 billion. Advances and deposits rose 19.3% and 20% YoY, respectively, with a stable PCR at 65.2%. The bank maintains a BUY rating with a target price of INR 160, reflecting a fine-tuned FY26 RoA/RoE estimate of 0.96%/13.7%.
TVS Motor Company reported a margin of 11.7%, slightly above estimates, driven by strong rural demand amid favorable monsoon conditions. However, export prospects remain uncertain due to weak demand in Africa, with management projecting a 7-8% YoY growth in the 2W industry for 3QFY25. The stock is considered fairly valued at ~48x/38x FY25E/FY26E EPS, prompting a Neutral rating with a target price of INR 2,610.
Indus Towers reported better-than-expected financials for 2QFY25, driven by a significant reversal of bad debt provisions totaling INR10.8 billion. However, core operational performance fell short, with recurring EBITDA at INR37.9 billion, slightly below estimates due to lower tower net additions and energy spreads. The company added 3.7k towers, below the expected 5.5k, and experienced a 19% QoQ decline in capex, while robust free cash flow of ~INR33 billion was noted, primarily used for a recent buyback. A DCF-based target price of INR385 has been set, maintaining a Neutral rating on the stock.
Bajaj Finance reported a 13% YoY growth in PAT for 2QFY25, reaching approximately INR 40.1 billion, with NII increasing by 23% YoY to around INR 88.4 billion. Despite a healthy PAT CAGR of ~24% projected through FY27E, the stock is rated Neutral with a target price of INR 7,320, reflecting limited upside catalysts.
Motilal Oswal has reiterated a BUY rating for UltraTech Cement, setting a target price of INR 13,000. Despite a 21% YoY decline in EBITDA to INR 20.2 billion due to operational challenges, the company anticipates a recovery driven by pent-up demand and good monsoon conditions, projecting double-digit volume growth in the second half of FY25. With significant capacity expansion plans, UltraTech is expected to gain market share and achieve a CAGR of 16% in consolidated EBITDA over FY24-FY27.
Motilal Oswal has reiterated a BUY rating for MCX, setting a one-year target price of INR 7,600, based on a strong performance in 2QFY25. The company reported a 73% YoY increase in operating revenue to INR 2.9 billion, driven by a 114% surge in volumes, with significant growth in both futures and options trading. PAT reached INR 1.5 billion, a notable recovery from a loss in the previous year, prompting a 10% and 11% increase in FY25/26 EPS estimates.
L&T Finance reported a 17% YoY growth in PAT to INR 7 billion for 2QFY25, with PPoP increasing by 23% YoY to INR 15.9 billion. Retail assets now make up 96% of the loan mix, driven by a 28% YoY growth in retail loans. Motilal Oswal maintains a BUY rating with a target price of INR 200, anticipating a PAT CAGR of 26% from FY24 to FY27.
Shares of SBI Life Insurance fell over 5% to Rs 1,624 after disappointing Q2 results, with Annual Premium Equivalent (APE) and Value of New Business (VNB) missing estimates by 11% and 14%, respectively. The VNB margin also contracted to 26.9%, attributed to a shift towards lower-margin products. Despite this, brokerages like UBS and Motilal Oswal maintain 'buy' ratings, citing optimism in new product launches and digital initiatives, projecting an 18% CAGR in APE and VNB from FY24-27.
Motilal Oswal
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
motilal oswal recommends buy on apl apollo tubes with target price of 1750
08:01 31.10.2024
IDFC First Bank shares plunge 9 percent after profit falls 73 percent
04:46 28.10.2024
DCB Bank reports strong growth and maintains buy rating with target price
11:38 27.10.2024
TVS Motor Company maintains neutral outlook with target price of 2610
16:07 24.10.2024
Indus Towers reports strong financials but faces operational challenges
16:04 24.10.2024
Bajaj Finance reports steady growth but maintains neutral outlook with target price
16:04 24.10.2024
UltraTech Cement targets growth despite recent earnings decline, maintains buy rating
13:08 24.10.2024
MCX reports strong revenue growth and maintains buy rating with target price
13:08 24.10.2024
motilal oswal maintains buy rating on l&t finance with target of 200 rupees
12:49 24.10.2024
SBI Life shares decline as Q2 results miss expectations but growth prospects remain
09:28 24.10.2024
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