Axis Direct Broker Research reports

Asian markets are trading higher tracking positive cues from Wall Street over the weekend. Nikkei is trading higher by 0.54%, Hang Seng is trading higher by 1.25% and Shanghai is trading higher by 0.99%.

We value ACC at 11x its CY23E EV/EBITDA, factoring in the higher cost, and await margins to improve to arrive at a TP of Rs 2,010/share, implying a downside of 7% from the CMP and hence change its rating from BUY to HOLD

Asian markets are trading mixed on reports that China's GDP grew 0.4% in the second quarter (est. of 1% growth), compared with 4.8% in the first quarter. Nikkei is trading higher by 0.55%, Hang Seng is trading lower by 0.61% and Shanghai is trading higher by 0.21%.

We recommend a BUY rating on the stock and assign a 24x P/E multiple to its FY24E earnings of Rs 133.9/share to arrive at a TP of Rs 3,280/share, implying an upside potential of 13% from the CMP.

Asian markets are trading in the green while investors take note of US inflation data. Nikkei is trading higher by 0.72%, Hang Seng is trading higher by 0.13% and Shanghai is trading higher by 0.08%.

We recommend a HOLD rating on the stock and assign a 15x P/E multiple to its FY24E earnings of Rs 64.9/share to arrive at a TP of Rs 975/share, indicating an upside of 5% from the CMP.

Most Asian markets are trading higher as Chinese trade data showed a 13.2% increase in yuan-denominated exports for the first half of 2022, while imports rose 4.8%.Moreover, investors also digested reports that The Bank of Korea and the Reserve Bank of New Zealand both have raised interest rates by

Asian markets are trading lower tracking weak cues from Wall Street overnight. Nikkei is trading lower by 1.68%, Hang Seng is trading lower by 1.07% and Shanghai is trading lower by 0.30%.

We value the company at 6x its FY24E EV/EBITDA and retain our BUY rating on the stock with a TP of Rs 140/share, implying an upside of 21% from the CMP.

We upgrade the stock to HOLD with a TP of Rs 3,900/share (70x FY24EPS) vs earlier SELL with a TP of Rs 2,900/share.

ECONOMIC STIMULATION & PENT UP DEMAND OVER; MONETARY TIGHTENING WEIGHS ON STEEL AND BASE METALS

Asian markets are trading mixed tracking cues from Wall Street over the weekend. Nikkei is trading higher by 1.02%, Hang Seng is trading lower by 2.53% and Shanghai is trading lower by 1.31%.

We recommend a HOLD rating on the stock and assign a 28x P/E multiple to its FY24E earnings of Rs 122.4/share to arrive at a TP of Rs 3,460/share, implying an upside of 6% from the CMP.

We recommend a BUY with a near-term TP of Rs 2,770/share, implying an upside of 10% from the CMP.

Asian markets are trading higher tracking positive cues from Wall Street overnight while investors await the release of U.S. jobs data for June. Nikkei is trading higher by 1.43%, Hang Seng is trading higher by 0.69% and Shanghai is trading higher by 0.19%.

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Asian markets are trading mixed as investors digest the release of minutes of the US Fed Reserve's meeting in June. Nikkei is trading higher by 0.73%, Hang Seng is trading lower by 0.59% and Shanghai is trading higher by 0.20%.

Asian markets are trading lower tracking mixed cues from Wall Street overnight. Nikkei is trading lower by 1.21%, Hang Seng is trading lower by 0.54% and Shanghai is trading lower by 0.70%.