Good morning!The domestic stock market on Monday showed early signs of a possible breakout from its consolidation range.
And Nifty futures on Singapore traded 80 points higher this morning, signalling a good start for Dalal Street.As you head for the days trade, here is a compilation of overnight analyst calls on various stocks.
Motilal Oswal has a buy rating on Ajanta Pharma with a target price of Rs 1,655.
The brokerage remains positive on Ajanta Pharma given the improving prospects of a revival in its earnings growth.
Capex is nearly complete and benefits are likely to accrue from end of FY20, said Motilal Oswal.
Shares of Ajanta Pharma ended down 1 per cent at Rs 1,385.95 on Friday.
Kotak Institutional Equities has retained buy rating on IRB Infrastructure Developers and revised fair value to Rs 154 from Rs 145.
Toll collections for IRB are set to improve on the company bagging the tolling and maintenance of the Mumbai-Pune project for 10 years, said Kotak Institutional.
With GIC payment also coming through, the brokerage expects IRB to benefit from the partnership in the current and upcoming projects.
Shares of IRB Infrastructure ended down 10.55 per cent at Rs 83.95 on Friday.
Edelweiss has maintained hold rating on Marico with a target price of Rs 349.
The brokerage met Saugata Gupta, CEO of Marico, for a peek into the companys game plan to revive growth in the current tepid consumption demand scenario.Considering the subdued macro-economic environment, the brokerage expects growth recovery to be gradual and given the tailwind of copra price is in the base and it does not expect material gross margin expansion in the near future.
Shares of Marico ended down 2.6 per cent at Rs 298.55 on Friday.
Kotak Institutional Equities has maintained add rating on Mahindra CIE Automotive and revised fair value to Rs 150 from Rs 170.
The brokerage expects demand conditions to remain challenging in both India and Europe in the first half of calendar year 2020.
However, with the companys focus on cost control, the brokerage expects the operating performance of the company to improve from calendar year 2021.
The brokerage has cut its EPS estimates for 2020 and 2021 by 19-20 per cent.
Shares of Mahindra CIE ended down 3.9 per cent at Rs 132.70 on Friday.
IIFL has a buy rating on JB Chemicals and Pharmaceuticals with a target price of Rs 720.
The company's top-four brands in the domestic market, Metrogyl price increase and potential market-share gains in Rantac would provide a 5 per cent-point boost to the India business growth and incremental margins of around 200-225 bps in FY21, said IIFL.
JB Chemicals also targets scaling-up its CMO business, driven by existing relationships and on-boarding of new clients which will furtherimprove the business mix, said IIFL.
Shares of JB Chemicals ended down 3.5 per cent at Rs 537.40 on Friday.