02 Jun 2025
Century Plyboards
BOB Capital Markets Ltd.
Target
787.15
750.00
781.15
(0.77%)
-4.72
Hold
Broker Report
Misses EBITDA estimate by 7.7% on sharp sequential margin contraction across segments (except plywood)
02 Jun 2025
Adani Ports
BOB Capital Markets Ltd.
Target
1436.20
1720.00
1468.00
(-2.17%)
19.76
Buy
Broker Report
Logistics business to deliver robust revenue/EBITDA CAGR of 48%/ 53% over FY25-29E led by PUSH + PULL strategy
30 May 2025
Alkem Laboratories
BOB Capital Markets Ltd.
4868.50
4527.00
5098.50
(-4.51%)
7.01
Sell
Broker Report
Alkem missed our estimates where Sales /EBITDA /PAT were 0.4%/17% and 15%. EBITDA margin was 160 bps lower than estimates
30 May 2025
Bajaj Auto
BOB Capital Markets Ltd.
Target
8563.50
9253.00
8607.00
(-0.51%)
8.05
Hold
Broker Report
BJAUT's Q4FY25 revenue growth was muted at 6% YoY (down 5% QoQ) to Rs 128bn on account of slow volume growth offset by realisations
30 May 2025
Birlasoft
BOB Capital Markets Ltd.
Target
402.95
342.00
400.50
(0.61%)
15.13
Sell
Broker Report
Revenue down 5.3% QoQ CC, lower than our estimate on furloughs, project ramp downs, insourcing, etc. Had 3 QoQ drops in FY25
29 May 2025
Cohance Lifesciences
BOB Capital Markets Ltd.
Target
1021.80
1328.00
1066.50
(-4.19%)
29.97
Buy
Broker Report
4QFY25 consolidated proforma sales were 11.4% above our estimates; EBITDA/APAT was -0.4% and -5.9% below estimates
29 May 2025
JK Lakshmi Cement
BOB Capital Markets Ltd.
Target
805.45
728.00
840.30
(-4.15%)
9.62
Sell
Broker Report
Modest revenue growth YoY at 6% dragged by tepid volume growth; flat YoY as JKLC chases higher realisations that gained ~5%
28 May 2025
Hindware Home Innovation
BOB Capital Markets Ltd.
Target
281.10
300.00
253.98
(10.68%)
6.72
Buy
Broker Report
Dismal Q4 on continued market share loss in bathware and muted performance of the consumer appliance business
28 May 2025
Life Insurance Corp
BOB Capital Markets Ltd.
Target
953.25
1092.00
942.00
(1.19%)
14.56
Buy
Broker Report
APE and VNB growth slows, expected to normalise going ahead
27 May 2025
Finolex Industries
BOB Capital Markets Ltd.
Target
216.81
265.00
224.74
(-3.53%)
22.23
Buy
Broker Report
Beats EBITDA estimate by 47.0% on sharp sequential improvement in the pipe segment margin
26 May 2025
JK Cement
BOB Capital Markets Ltd.
Target
5579.00
5208.00
5213.00
(7.02%)
Target met
Hold
Broker Report
Grey cement volumes at 5.3mt (ex-clinker volumes) rose by ~14% YoY as presence in key operating regions like Central India helps
26 May 2025
Ashok Leyland
BOB Capital Markets Ltd.
Target
235.62
276.00
239.89
(-1.78%)
17.14
Buy
Broker Report
Q4FY25 revenue grew 6%/26% YoY/QoQ to Rs 119.1bn, aided by volume gains of 4%/27% YoY/QoQ, while realisations stay put
26 May 2025
Astral
BOB Capital Markets Ltd.
Reco
Target
1522.40
1700.00
1508.70
(0.91%)
11.67
Buy
Broker Report
Reported a healthy pipe margin in Q4FY25, despite operating amidst weak demand conditions and falling resin prices
23 May 2025
The Ramco Cements
BOB Capital Markets Ltd.
Target
999.40
699.00
1006.10
(-0.67%)
30.06
Sell
Broker Report
Q4 revenue declined ~11%/21% YoY/QoQ, as price pressure impacted realisations by 4% and profitability severely (down by 83% YoY)
23 May 2025
ITC
BOB Capital Markets Ltd.
Target
417.00
515.00
436.30
(-4.42%)
23.50
Buy
Broker Report
Sales 3% higher vs consensus likely on strong cigarette volumes. EBITDA 5% above cons. on higher margins
23 May 2025
Star Cement
BOB Capital Markets Ltd.
Target
216.99
260.00
220.22
(-1.47%)
19.82
Buy
Broker Report
Revenues rose ~15% YoY in Q4FY25 on the back of ~9% volume gains, though realisations stayed flat (-1% YoY)
23 May 2025
Sun Pharmaceutical
BOB Capital Markets Ltd.
Target
1664.90
1993.00
1683.60
(-1.11%)
19.71
Buy
Broker Report
Sales/EBITDA/APAT were lower than our estimates by 3.5%/9.6%/29.4%. ETR for 4QFY25 stood at 32.9% including 1x tax expense of Rs 3.7bn
07 May 2025
Alembic Pharma
BOB Capital Markets Ltd.
981.40
1032.00
896.85
(9.43%)
Target met
Buy
Broker Report
Revenue/EBITDA/ PAT grew 6.7%/8% and 19% above our estimates. EBITDA margin reported 20bps above estimates of 15.4% in 4QFY25
07 May 2025
Kajaria Ceramics
BOB Capital Markets Ltd.
Target
1024.30
925.00
829.20
(23.53%)
Target met
Buy
Broker Report
Weak Q4 on soft demand environment and margin pressure in tile segment; ceased plywood operations due to continued losses
06 May 2025
United Breweries
BOB Capital Markets Ltd.
2029.70
2074.00
2136.80
(-5.01%)
Target met
Hold
Broker Report
UB will hold share in non-premium, grow in premium. Double digit sales growth and 340bps EBITDA margin expansion between FY25-FY27