Ways2Capital Reviews : Broker Radar For June 25

HSBC on Tata Power:
  • Maintained "Hold" with a price target of Rs96.
  • Rising coal prices and divestment of non-core assets are positives for the company.
  • Delay in receipt of payment on sale of coal mine Arutmin is a drag.
  • Resolution of its Mundra power project will also remain a drag.
  • Lower earnings by 11% and 27% for the current and the next financial year.
Nomura on SBI Life:
  • Maintained "Buy" with a price target of Rs880.
  • Risk-reward better now as valuations 20% lower than listing.
  • Company will continue to deliver industry-leading growth.
  • Focusing more on protection business where it lagged peers in the previous financial year.
  • Margins to expand to more than 18% by March 2020 despite conservative tax changes.
Citi on Crompton Greaves Consumer:
  • Maintained "Buy" with a price target of Rs325.
  • Premium fans continue to drive market share gains in fans.
  • Lighting opportunity continues to be huge.
  • Opportunity to gain share in geysers and coolers.
  • Expect the company to deliver 15% sales in the current financial year.
CLSA on Tata Motors:
  • Maintained "Sell" with a price target of Rs295.
  • Big focus on portfolio electrification.
  • Cautious on demand outlook due to diesel uncertainty, Brexit and weak demand cycle in the West.
  • Targeting internal cost controls; cash flow to remain under pressure near-term.
  • Remain negative on JLR given multiple headwinds.

(Source: Media Reports)
 
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