Axis Direct Broker Research reports

Retain SELL with a revised TP of Rs. 2,900/share.

We maintain our HOLD rating on the stock with a revised TP of Rs 2,600 (Rs 2,800 earlier)

We expect a healthy recovery in RED/ECE businesses coupled with modest growth in the domestic tractor business. Considering the volatility in tractor demand and the high base of last year, we maintain our HOLD rating on the stock revising our target price to Rs 1,690 (Rs 1,900 earlier)

We recommend a Buy the stock for a target price of Rs 1,330 implying an upside of 11% from CMP

We revise our rating from BUY to HOLD and value Amber at 38x FY24E EPS of Rs 94.8 and arrive at the TP of Rs 3,600/share (vs. 3,975/share earlier).

We upgrade our rating to BUY from HOLD and value Bandhan at 2.4x FY24E ABV and arrive at a target price of Rs 400/share, implying a upside of 24% from CMP.

We upgrade our rating from HOLD to BUY and value UJSFB at 1.2x FY24E ABV to arrive at a target price of Rs 23/share, implying an upside of 43% from CMP.

We recommend a BUY rating on the stock and assign a 24x P/E multiple to its FY24E earnings of Rs 177.8/share which gives a TP of Rs 4,200 /share. TP implies an upside of 15% from the CMP.

We value the company at 5x of its FY24E EV/EBITDA, roll over our estimates, and retain our BUY rating on the stock with a target price of Rs 160/share. TP implies an upside of 36% from the CMP.

Asian markets are trading higher while investors assess the inflation and the global economic outlook. Nikkei is trading higher by 2.61%, Hang Seng is trading higher by 2.02% while Shanghai is trading higher by 0.44%.