Broker research reports for stocks which have been downgraded by brokers. Both recommendation downgrades,
as well as share price target downgrades are available .
Broker Research reports: latest Downgrades
for all stocks
TEAM delivered a strong operational performance in 2QFY22, with revenue up 10.7% QoQ on broad based growth across all three verticals. It also added 25k associates (record high) in 2Q, benefitting from a strong demand environment as well as seasonality and flow through from a COVID-impacted 1QFY22. EBITDA margin inched up by 10bp QoQ to 2.2% on strong growth in the Specialized Staffing business and partial drawdown in General Staffing,...
but OEMs indicating improvement going forward; M&A pipeline very strong Motherson Sumi (MSS)'s 2QFY22 performance was impacted across businesses by the chip shortage, sharp copper price inflation, and nonrecurring expenses at PKC. However, the chip shortage seems to be easing. MSS is well-positioned to benefit from cyclical recovery in its key businesses as well as from a strong order book and improving efficiencies in SMRPBV. We cut our FY22E EPS estimates by 7%, factoring in the semiconductor shortage as well as higher tax, but maintain our FY23 estimates. We...
Hopeful of demand recovery, led by wedding season and delayed harvesting Hero MotoCorp (HMCL)'s performance was driven by higher realization and efficient cost management, despite high cost of inflation. While cost...
We cut our EPS estimate for FY22E/FY23E by 23%/14%, factoring in a) prolonged concerns on escalated raw material prices, particularly for Paracetamol, and b) China-led supply disruptions resulting in higher logistic costs. We value GRAN at 13x 12M forward earnings to arrive at TP of INR330. Headwinds related to raw materials are expected to ease over the medium term, and GRAN continues its effort towards building the ANDA...
recent run-up in the stock at revised TP of Rs1,989 (v/s Rs1,844) based on 29x (28x earlier) Sept'23 EPS, to factor in strong FCF generation and improving return ratios. ENDU's 2QFY22 S/A revenues grew 19%YoY at...
Strong order book to maintain CSM momentum About the stock: Incorporated in 1947, PI Industries focuses on complex chemistry The company maintains a strong research presence through its R&D facility...
in installed base and 60% in App sales QoQ. Further, BK's foray into own delivery has picked up steam with the company acquiring 100 E-scooters. 1) Closure of ~25-30% eateries due to Pandemic 2) Increased consumer focus Stunner Menu which will drive volumes and focus on Whooper to improve...
in steel mill's margins with sharp increase in coking coal cost. However, domestic iron ore supplies would remain uncertain due to surrender of auctioned mines and low visibility on production by state PSUs in Odisha. In spite of weakness in global iron ore prices, we maintain our Accumulate rating on back of attractive valuations, constrained domestic supplies and value unlocking on demerger of steel plant. We retain our TP of Rs170 based...
recovery in 2H 2) digital business has started gaining momentum (revenue up 17% QoQ) on the back of engaging content catalogue and 3) uncertainty surrounding boardroom decision risks is expected to reduce given the impending merger with SPNI (due diligence has started and is expected to be complete within stipulated timeline). Maintain BUY with a revised TP of Rs399 (Rs405 earlier) valuing the stock at 23x FY24 EPS of Rs17.3 (inclusive of merger synergy benefits). Near term pressure on margins and subscription revenues due to implementation of...
We expect the whole API industry to continue facing challenges due to a fall in realization as well as an increase in cost pressure. We foresee the situation to continue for the next 2-3 quarters and therefore recommend a HOLD rating on the stock with the target price of Rs 1,300/share.
