Axis Direct Broker Research reports

We maintain a BUY rating on PNCIL and value its EPC business at 11.5x FY25E EPS and HAM portfolio at 1x book value to arrive at a target price of Rs435/share, implying an upside of 18% from the CMP.

Most Asian markets witnessed declines after China left its one-year and five-year loan prime rates unchanged and investors awaited the rate decision from the US Federal Reserve during the day ahead. Nikkei, Hangseng, and Shanghai are trading lower by 0.36%, 0.48% and 0.35% respectively.

Asian markets are trading mixed as investors watch out for central bank decisions from the US and Japan during the week. While Nikkei is trading higher by 1.1%, Hangseng is trading lower by 0.69%. Shanghai is trading higher by 0.17%.

We revise our rating on the stock from HOLD to BUY.

We recommend a BUY rating on the stock with a revised target price of Rs 545/share (upgrade from Rs 515/sh), implying an upside of 10% from the CMP.

we maintain our BUY rating on the stock with a target price of Rs 185 per share, implying an upside potential of 19% from the current market price.

We maintain our BUY rating on the stock with the TP of Rs 210/share, valuing the stock at 19x Jun'25E EPS (unchanged), implying an upside of 17% from the CMP.

Asian markets are trading higher after data showed that China's Aug'23 retail sales and factory output beat expectations. Nikkei is trading higher by 1.29%, Hangseng is trading higher by 1.24%, and Shanghai, too, is trading higher by 0.42%.

Asian markets are trading higher amid mixed cues from Wall Street overnight, with investors closely monitoring US inflation data. The Nikkei is trading higher by 1.05%, Hang Seng is up by 0.05%, and Shanghai is also trading higher by 0.12%.

we initiate coverage on Bank of Baroda Ltd with a BUY' rating and a target price of Rs 255/share valuing it at 1.1x FY25E ABV, implying an excellent upside of 21% from the CMP.

Asian markets are trading lower as investors assess economic data releases from Japan and South Korea. While corporate confidence in Japan fell in Sep'23, South Korea's unemployment rate in Aug'23 came in at 2%, which was its lowest since Jun'99. Nikkei is trading lower by 0.31%, Hangseng is..

Asian markets are trading mixed despite positive cues from Wall Street overnight. Nikkei is trading higher by 0.61% while Hangseng and Shanghai are trading lower by 0.20% and 0.10% respectively.

We value HGIELEPC business at10x FY25 EPS and HAM portfolio at 1.2x book value with a target price of Rs 1,140/share, implying an upside potential of 16% from the CMP.We maintain our BUY rating on the stock.

Asian markets are trading mixed as investors await key economic data releases in the region. While Nikkei and Hangseng are trading lower by 0.19% and 0.50% respectively, Shanghai is trading higher by 0.44%.

We recommend a SELL rating on the stock and assign a 20 x P/E multiple to its FY25E earnings of Rs 63.7/share to arrive at a TP of Rs 1,300/share, implying an downside of 11.5% from the CMP.

We recommend a BUY rating on the stock with a TP of Rs 97, implying an upside of 10% from CMP.

Asian markets are trading lower as investors react to economic data from Japan. Japan's economy reported annualized growth of 4.8% in the second quarter on a quarter-over-quarter basis, which was lower than the estimated 5.5% growth. The Nikkei and Shanghai are both down by 0.94% and 0.42%, respecti

Multi Asset Strategy - September 2023

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%.