Axis Direct Broker Research reports

Event Update: GST Reform 2.0

We initiate coverage on Mahanagar Gas Limited (MGL) with a BUY recommendation and a target price of Rs 1,540/share, implying a potential upside of 20% from the current market price (CMP)

Asian Markets are trading mixed as investors assess rising global bond yields and the latest developments on the trade front. Nikkei is trading down by 0.30%, while Hang Seng and Shanghai Composite are trading up by 0.64% and 0.19%, respectively.

At current levels, the stock is attractively valued. We recommend a BUY rating with a TP of Rs 1,660/share, implying an upside of 10% from CMP.

We recommend a BUY on the stock with a target price of Rs 1,570/share, implying an upside of 10% from the CMP.

We prefer TVS Motors, Hero Motocorp, and Bajaj Auto in 2Ws (Eicher seems fully valued at CMP); M&M (non-coverage) as a play in the PV/LCV/tractor segment, followed by Maruti in PVs. We also like Ashok Leyland in the CV space, followed by a close watch on Eicher (VECV) for any market share gains.

We maintain our BUY recommendation on the stock

Asian Markets are trading mostly higher as investors assessed the Shanghai Cooperation Organisation meeting of leaders in Tianjin, with tariff uncertainty weighing on sentiment. The Nikkei is trading up by 0.33%, while the Hang Seng is trading down by 0.11%

Recommend a BUY rating on the stock with a TP of Rs 5,140/share, implying an upside of 10% from the CMP.

We recommend a BUY on Kalpataru Projects International Ltd. with a Target Price of Rs 1,470/share, offering an upside potential of 18% from CMP.