Motilal Oswal

Shares of Axis Bank slumped nearly 7 per cent on Thursday to ₹1,150.50 on the NSE due to concern over credit costs. The bank on Wednesday reported a 5.66 per cent rise in consolidated net profit for the June quarter at ₹6,436 crore. However, its gross non-performing assets (GNPA) increased sequentially.

Target: ₹800

Shares of Ambuja Cements hit a new high on Friday’s trade following the acquisition of Penna Cement.

Shares of LIC traded at ₹999 on the NSE, up by 0.07 per cent as of 10.25 am on Thursday. Brokerages have been bullish on the stock driven by strong equity and change in product mix. They expect stock to rise at least 20 per cent.

Target: ₹1,070 CMP: ₹915.15 JSW Steel posted a consolidated revenue of ₹46,300 crore (-2% y-o-y/ +10 per cent q-o-q ; in line) in Q4-FY24. ASP stood at ₹68,750/t (-4 per cent y-o-y/-2 per cent q-o-q) vs. our est. of ₹67,507/t. Combined crude steel production was 6.79mt (+3 per cent y-o-y/-1 per cent q-o-q), while steel sales came in at 6.73mt (+3 per cent y-o-y/+12 per cent q-o-q) with capacity utilisation of 93 per cent at the Indian operations. JSTL India operations reported the highest ever VASP sales, up 5 per cent y-o-y (about 62 per cent share of total sales). During FY24, revenue grew 5 per cent to ₹1,75,000 crore led by robust volume growth. EBITDA/APAT stood at ₹28200 crore/₹9,000 crore. Consolidated crude steel production and sales volume stood at 26.4mt and 25mt, respectively. Going forward, we expect JSTL’s domestic volumes to be robust with increasing capacities, a better product mix, and export opportunities. Moreover, with stable pricing, softened coal costs, and improving operational efficiencies, we expect its EBITDA/t to improve going forward. We raise our revenue/EBITDA estimates by 2/5…

Bharat Electronics stock surged, to hit a fresh high at ₹283 on the NSE on Tuesday, after the company reported its financial results for the quarter ended March, 2024. The company reported its consolidated net profit for the quarter ended March, 2024 at ₹1,796.67 crore as against ₹1,382.01 crore in the corresponding quarter ended March, 2023.

Target: ₹2,720

Shares of Oberoi Realty climbed nearly 9 per cent on Thursday’s trade. The company’s consolidated net profit for the March quarter of 2024 increased 64 per cent and announced plans to raise up to ₹4,000 crore through issuance of equity shares and non-convertible debentures.

Shares of Siemens Ltd hit a new high at ₹7,240 on the NSE on May 15, a day after the company announced its Q4 financial results and demerger its energy business into a separate entity that will be listed.

Majority of domestic and global brokerages have maintained their ‘buy’ call on SBI after India’s largest PSU posted record profits.