Axis Direct Broker Research reports

Asian markets are trading higher as investors watch out for the Reserve Bank of Australia's rate decision. Nikkei is trading higher by 0.97%, Hang Seng is trading lower by 0.93% and Shanghai is trading higher by 0.28%.

Asian markets are trading mixed tracking weak cues from Wall Street over the weekend. Nikkei is trading higher by 0.84%, Hang Seng is trading lower by 0.85% and Shanghai is trading flat.

Asian markets are trading lower tracking weak cues from Wall Street overnight, while investors take note of a private survey which showed China's factory activity expanded in the month of June. Nikkei is trading lower by 0.88%, Hang Seng is trading lower by 0.62% and Shanghai is trading lower by 0..

We maintain BUY on the stock with a target price of Rs 665/share (SOTP basis core book at 1.3x FY24E and subsidiaries at Rs 185), implying an upside of 45% from the CMP.

Axis Top Picks for the month of July 2022

We initiate coverage on the company with a BUY rating and value the company at 12.5x FY24E EPS to arrive at the target price of Rs 490/share, implying an upside potential of 17% from the current levels.

Asian markets are trading mixed as investors take note of data releases in the region. Japan's industrial production declined 7.2% in May, while China's factory activity grew in June. Nikkei is trading lower by 0.98%, while Hang Seng is trading higher by 0.26% and Shanghai is trading higher by 0.8..

We value KEC International at 13x FY24E EPS to arrive at a target price of Rs 400/share (Rs 385 earlier) implying a upside of 1% from the CMP and keep our rating as HOLD.

We recommend a BUY rating on the stock with a TP of Rs 4,750.

We initiate coverage on the stock with a BUY rating and value the company by assigning a 1-year forward EV/EBITDA multiple of 4.0x on FY24 EBITDA. We arrive at our Mar'23 target price of Rs 225/share, implying an upside of 21% from the CMP.