Citigroup on RR Kabel: Buy | Target ₹2043
Citigroup recommends buying RR Kabel after its Q4 results, increasing the target price to ₹2043 from ₹1728. The results were in line with expectations, and the company is benefiting from strong industry demand. Citigroup predicts an 18-20% revenue growth and a 27% EPS CAGR over FY24-26.
JPMorgan on RIL: Overweight | Target ₹3100
JPMorgan maintains an overweight rating on RIL, with a target price of ₹3100. RIL’s New Energy Giga-factories are expected to start in 2024. The company plans to use its large hydrogen demand to develop electrolyser and solar capacities, potentially lowering costs and making green energy solutions viable. While the New Energy EBITDA might be small initially, progress updates could add significant value to the stock.
Axis Capital on Indigo: Buy | Target ₹4700
Axis Capital has upgraded Indigo to a buy from add, raising the target price to ₹4700 from ₹4100. This upgrade is due to reduced competition and stable aviation fuel prices. Despite geopolitical issues, fuel prices have remained manageable, and Indigo’s long-term plans show confidence in handling supply issues.
Jefferies on Tata Steel: Buy | Target ₹200
Jefferies maintains a buy rating on Tata Steel, with a target price of ₹200. Although Q4 numbers were weak, they exceeded expectations. The standalone EBITDA per ton fell 12% quarter-over-quarter to around ₹15,000, due to lower average selling prices. However, the loss in Europe narrowed significantly from $191 per ton in Q3 to $40 per ton in Q4.
Summary
- RR Kabel: Buy, target ₹2043 (Citigroup)
- RIL: Overweight, target ₹3100 (JPMorgan)
- Indigo: Buy, target ₹4700 (Axis Capital)
- Tata Steel: Buy, target ₹200 (Jefferies)
These insights are compiled from top brokerage firms and sources like ETNow.
