Citigroup has a buy rating on Bharti Airtel with the target price at Rs 1,980. Analysts said Jan-March quarterly numbers were relatively subdued compared to recent quarters with India mobile growth slowing to 1.3% on a quarterly basis, mainly because of seasonality factors. The telecom services major’s India and consolidated net debt rose 4% in the quarter, primarily due to increase in India capex and due to cash outgo towards 5% stake increase in Airtel Africa.
CLSA has an outperform rating on Tata Motors with the target price at Rs 805. Analysts said JLR’s Jan-March EBIT margin of 10.7% was in line with estimates and up substantially from the Oct-Dec quarter. Its commercial vehicle business EBITDA margin including PLI benefit came in at 12.2%. India passenger vehicle business reported an EBITDA margin of 7.9%, up 60 basis points on the quarter, led by better product mix and accrual of PLI incentives.
Morgan Stanley maintained its overweight rating on GAIL with the target price at Rs 248. Analysts said India's gas demand is turning a lot more inelastic to higher prices. They see a 10% upside to FY26 estimates with four new pipelines, new LNG sourcing contracts, and tailwinds from regulatory framework changes. They also feel petrochemical investment should outperform expectations as gas cost falls and new investments bear fruit
Motilal Oswal Financial Services has a neutral rating on Cipla with the target price at Rs 1,501. Analysts said earnings outlook to moderate after a strong show over FY21-25. The company reported lower-than-expected revenue/EBITDA in the Jan-March quarter. Cipla’s yearly growth in India business improved for the second consecutive quarter, led by a steady execution in chronic therapies and a strategic reset in the trade generics segment. The company’s North America business reached an all-time high annual revenue, with a healthy contribution from differentiated assets.
Emkay Global Financial Services maintained its buy rating on Tata Steel with the target price at Rs 185. Analysts said the company posted consolidated adjusted EBITDA in line with estimates. However, it was down 9.1% sequentially owing to lower realization which was partially offset by higher deliveries across regions and lower coking coal costs in India and the Netherlands.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage 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.
CLSA has an outperform rating on Tata Motors with the target price at Rs 805. Analysts said JLR’s Jan-March EBIT margin of 10.7% was in line with estimates and up substantially from the Oct-Dec quarter. Its commercial vehicle business EBITDA margin including PLI benefit came in at 12.2%. India passenger vehicle business reported an EBITDA margin of 7.9%, up 60 basis points on the quarter, led by better product mix and accrual of PLI incentives.
Morgan Stanley maintained its overweight rating on GAIL with the target price at Rs 248. Analysts said India's gas demand is turning a lot more inelastic to higher prices. They see a 10% upside to FY26 estimates with four new pipelines, new LNG sourcing contracts, and tailwinds from regulatory framework changes. They also feel petrochemical investment should outperform expectations as gas cost falls and new investments bear fruit
Motilal Oswal Financial Services has a neutral rating on Cipla with the target price at Rs 1,501. Analysts said earnings outlook to moderate after a strong show over FY21-25. The company reported lower-than-expected revenue/EBITDA in the Jan-March quarter. Cipla’s yearly growth in India business improved for the second consecutive quarter, led by a steady execution in chronic therapies and a strategic reset in the trade generics segment. The company’s North America business reached an all-time high annual revenue, with a healthy contribution from differentiated assets.
Emkay Global Financial Services maintained its buy rating on Tata Steel with the target price at Rs 185. Analysts said the company posted consolidated adjusted EBITDA in line with estimates. However, it was down 9.1% sequentially owing to lower realization which was partially offset by higher deliveries across regions and lower coking coal costs in India and the Netherlands.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage 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.
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