Emkay Global Financial Services has a ‘buy’ rating on Indian oil with a target price of Rs 170. Analysts said the OMC major beat analysts on the back of better marketing margin and refinery inventory benefits on several parameters during their public march quarters.The management indicated that FY26 is still healthy, in which stable refinement and marketing are increased by low oil prices. IOCL LPG is also attached to GOI for compensation. Major projects such as Pinipat, Gujarat and Barauni expansion will be progressively commissioned during the next two years.
Motilal Oswal Financial Services has a ‘purchase’ rating on the State Bank with a target price of Rs 915 in the State Bank. Analysts stated that the banks of the banking reported in-line earnings as high provisions and Opex were offset by high income, while the margin was widely stable. The management of the bank is expected to be under pressure due to the NIM rate cut. However, the bank has some offsetting levers such as an increase in CD ratio, a high MCLR-Linked book, and benefits from recent increase in MCLR rates.Credit increased 12% yoy, while the unsafe book (XPRESS Credit) saw a flat trend. The bank has seen an increase in its domestic CD ratio. The fresh slippery was contained, which outlines the improvement in underwriting standards.
Citigroup has a ‘buy’ rating on Indus towers with a target price of Rs 485. Analysts feel that there is important positivity for stocks that all previous undisputed overdues have now been approved by Voda idea. In addition, free cash flow creation increased in public march quarters. And the approximate new term from Voda Idea increased on the basis of quarter. He said that Sindhu Towers, however, delayed the dividend declaration which was widely expected and instead, established a committee for recommendations to “increase shareholder returns”.They feel that this delay may be more clarity on near-stock performance.
Elara Securities India has repeated its ‘low’ rating on CEAT with a target price of Rs 3,153. Analysts stated that CEAT’s revenue increased during the January-March quarter, which led to an increase in healthy volume, while the growth of Ebitda margin was inspired by contraction of raw material cost, and the applied price increase in two-whee tires. Analysts retained their cautious stance on the tire area, gave low EPS CAGR during FY 25-FY27, and the expectations of structurally high natural rubber prices during FY 26-27.We are still factors in Camso acquisition.
The Nippon Life India Asset Management (Nippon Life Mutual Fund) of ICICI Securities is a ‘purchase’ rating with a target price of Rs 720. Analysts feel that Fund House Management (AUM) is one of the better plays on the base industry status, execution track records and assessment. The performance of a strong retail franchise and good funds has taken advantage of the market share for nippon life AMC in equity and SIP flow. The Fund House also holds its industry-composite status in the passive and alternative fund segment.
