Axis Direct Broker Research reports

Asian markets are trading lower tracking negative cues from Wall Street overnight. Nikkei is trading lower by 2.50%, while Hang Seng is trading lower by 2.77% and Shanghai is trading lower by 0.56%.

Asian markets are trading mixed as data from Japan showed that economy shrank 1% annualized in January-March (vs. estimates of 1.8% contraction) while investors also digest comments from Fed Chair Jerome Powell thathe will back interest rate increases till prices begin falling back toward a healthy

We maintain a BUY rating on the stock with a Target Price of Rs 20,000/share.

We retain our BUY rating on the stock valuing it at 5.5x FY24E EV/EBIDTA arriving at a target price of Rs 1,000/share, (Rs 1,075/ share earlier) implying an upside of 30% from CMP.

We maintain our BUY rating on the stock with a revised TP of Rs 245 (Rs 230 earlier), valuing the company at 18x FY24E EPS, implying an upside of 18% from CMP.

We recommend a BUY on the stock and assign a 32x P/E multiple to its FY24E earnings of Rs 35.94/share which gives a TP of Rs 1,140/share, implying an upside potential of 18% from CMP.

Asian markets are trading mixed as investors take note of the minutes of the Reserve Bank of Australia's monetary policy meeting, which indicated that the central bank could further increase interest rates to tackle inflation. Nikkei is trading higher by 0.22%, Hang Seng is trading higher by 1.45%..

We maintain a positive stance on the stock from a long-term perspective in light of immense growth potential, as we maintain our buy rating with a revised TP of Rs 1,120/share assigning a target multiple of 57x PE to FY24E EPS.

We retain a BUY rating on the stock with a TP of Rs 1,100/share (from Rs 1,215/share) and continue to value it at 30x PE of FY24E EPS.

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