BofA Securities on Bandhan Bank: Buy| Target Rs 300BofA Securities maintained a buy rating on Bandhan Bank with a target price of Rs 300. The asset quality improvements were very gradual.
A big growth pickup in 2H will be key to a re-rating of the stock. Emerging Entrepreneurs Business (EEB) book growth is finally picking up; however, the housing business/sector is lagging. FY24 guidance – all key metrics to see a big pickup in 2H
BofA Securities on Bajaj Auto: Buy| Target Rs 5950
BofA Securities maintained a buy rating on Bajaj Auto and raised the target price to Rs 5950 from Rs 5550 earlier.
The 2-wheeler maker reported a good September quarter. The 3W business stands out amid a good festive season and Triumph ramp-up.The export recovery is gradual, and the payout policy is likely to include buyback. BofA Securities on Wipro: Underperform| Target Rs 350
BofA Securities maintained an underperform rating on Wipro with a target price of Rs 350.
The Q2 revenue was lower than estimates. Macro and seasonal impact makes for a weak Q3 guidance. Higher wins through partnerships and there is more to go.
BofA Securities on IndusInd Bank: Buy| Target Rs 1750
BofA Securities maintained a buy rating on IndusInd Bank and raised the target price to Rs 1750 from Rs 1650 earlier.
The Q2 results ticked more boxes, and the re-rating thesis remains intact. The company saw a healthy loan growth momentum across most segments.
Stable net interest margins (NIMs) credit costs are likely to decline further in H2.
Jefferies on Paytm: Buy| Target Rs 1300
Jefferies maintained a buy rating on Paytm with a target price of Rs 1300. The transformation has super-charged growth and upfronted profitability.
The growth momentum is likely to continue. Contribution profits to expand faster at 40% CAGR.
The asset quality gains from the rising share of credit-tested users. The company is poised for sustained profitable growth, and the valuations remain attractive.
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