Axis Direct Broker Research reports

Our BUY recommendation is supported by our valuation, where we assign a 8x FY25E EV/EBITDA multiple. This results in a target price of Rs 1,400 per share, indicating a potential upside of 12% from the current market price.

Asian markets are trading mixed on account of increased oil prices after Saudi Arabia and Russia extended voluntary oil production cuts to the end of the year. While Nikkei is trading higher by 0.65%, Shanghai is trading lower by 0.35%. Hang Seng, too, is trading lower by 0.51%.

Asian markets are trading lower as investors remain cautious ahead of the rate decision by Australia's central bank as well as regional economic data, including inflation and business activity figures. The Nikkei is down 0.21%, Shanghai is lower by 0.67%, and the Hang Seng is also trading lower by 1

We recommend a BUY rating on the stock with a near-term TP of Rs 24,100, implying an upside of 10% from the CMP.

Asian markets are trading mixed in response to China's factory activity contracting for a fifth straight month in Aug'23. Nikkei is trading higher by 0.63%, Shanghai is trading higher by 0.41% while the Hang Seng index paused trading due to a warning over Typhoon Saola.

Axis Top Picks for the month of September 2023

Axis Research Scorecard Report - August 2023

Asian markets are trading mixed as investors await China's August factory activity data in the day ahead. Both Nikkei and Hangseng are trading higher by around half a per cent while Shanghai was trading lower by 0.27%.

Asian markets are trading higher as investors took note of inflation numbers in Australia for Jul'23. Australia's headline inflation reading for Jul'23 came in at 4.9%, softer than the 5.4% seen in Jun'23. Nikkei was trading higher by 0.94%, Hangseng was up 0.73%, and Shanghai, too, was trad..

Asian markets are trading in the green tracking positive cues from Wall Street and investors factoring in data that showed Japan's unemployment for Jul'23 at 2.7%, which stood higher than the estimates of 2.5%. Nikkei was trading higher by 0.17%, Hangseng was up by 1.49%, and Shanghai, too, was tr..