Axis Direct Broker Research reports

Stock Ideas with specific strategies

Domestic Auto Sales Maintain Momentum; External Risks Keep Outlook Cautious

Asian markets were mostly trading in the red on Thursday morning, pressured by a sell-off in global technology and semiconductor shares. Nikkei and Shanghai were down 1% and 0.7%, respectively, while Hang Seng was up 1.3%.

Axis Intellect (AI) Score based Top Ideas

we recommend the following stocks: Kotak Bank, Bajaj Finance, Bharti Airtel, Avenue Supermarts, ICICI Bank, Varun Beverages Ltd, APL Apollo Tubes, HCG, LG Electronics (I) Ltd, Nestle India, Eternal, Ujjivan Small Finance Bank, Chalet Hotels, Minda Corporation, Dalmia Bharat

We continue to maintain a constructive outlook on the bank and reiterate our BUY recommendation with an unchanged TP of Rs 500/share, implying an upside of 28% from the CMP.

Asian markets opened on a positive note on Wednesday morning. Japan's Nikkei and Shanghai were trading higher by 0.2% and 0.54%, respectively, while Hang Seng was down 0.63%.

We value the company at 49x FY28E EPS and maintain our BUY recommendation on the stock with a TP of Rs 1,680/share.

Currently, the company is trading at 27x/23x P/E multiples of FY27E/FY28E. We value the company at 34x FY28E EPS and maintain our BUY rating on the stock with an unchanged TP of Rs 6,270/share, implying an upside of 46% from the CMP.

Asian markets rebounded strongly on Thursday morning following strong sales guidance from Micron Technology. South Korea's KOSPI led the tech rebound, while Japan's Nikkei 225 surged 3.5% to trade near 71,649. In contrast, the Hang Seng traded lower by 1.6% at 23,015.

Asian markets showed a mixed and cautious recovery on Wednesday morning. South Korea's KOSPI led a tech rebound, while Japan's Nikkei 225 was flat to slightly lower, recording a decline of 0.38% to settle at 69,524 in early trade. The Hang Seng is trading lower by 0.25% at 23,227.

We continue to maintain our positive outlook on the bank and maintain our BUY recommendation on the stock with an unchanged TP of Rs 500/share (2.2x FY28 ABV core book), implying an upside of 25% from the CMP.

Stock Ideas with specific strategies

We reiterate our BUY recommendation on CreditAccess Grameen Ltd with a Target Price of Rs 1,840/share, implying an upside potential of 30% from the CMP.

Asian markets are trading mixed on Tuesday morning. The Nikkei opened slightly higher at 72,404 before turning down 0.8% to trade near 71,711, while Shanghai is down 0.2% at 4,153. Conversely, the Hang Seng is trading soft, down 0.6% at 23,620 after a flat open.

Asian markets are trading mixed on Monday morning. Nikkei is trading higher at 72,612, while Hang Seng is trading lower by 1.4% at 23,594, and Shanghai is trading flat by 0.1% at 4,090.

We recommend a BUY with a target price of Rs 1,331/share, implying an upside of ~10% from the CMP.

We maintain our BUY recommendation on Elecon Engineering Company Ltd. with a Target Price of Rs 635/share, implying upside potential of 18% from the CMP.

We recommend a BUY on the stock with a TP of Rs 1,900/share, implying an upside of 10% from the CMP

Asian markets were mixed today. Japan's Nikkei advanced 0.6% after hitting a record high on Thursday, while the Topix was flat. South Korea's Kospi jumped 2.8% after crossing the 9,000 mark for the first time. Australia's ASX 200 declined 0.74%. Markets in China, Hong Kong, and Taiwan remained..