Brokerage firm Nuvama suggests reducing shares of Kotak Bank, while Goldman Sachs and Jefferies recommend buying HDFC Bank shares. Investec advises selling PVR Inox shares.
Here are the detailed recommendations from top brokerage firms:
Nuvama on Kotak Mahindra Bank: Reduce | Target Price: Rs 1,650
Nuvama advises reducing holdings in Kotak Bank, setting a target price of Rs 1,650. The bank saw a drop in Net Interest Margin (NIM) due to higher costs and fewer unsecured loans, but profit after tax grew by 51% quarter-on-quarter. The bank is addressing issues highlighted by the RBI and aims to increase unsecured loans.
Goldman Sachs on HDFC Bank: Buy | Target Price: Rs 1,961
Goldman Sachs recommends buying HDFC Bank shares, raising the target price to Rs 1,961 from Rs 1,927. They see improved earnings potential and strong asset quality, expecting a rebound in the bank’s performance by FY26.
Investec on PVR Inox: Sell | Target Price: Rs 1,273
Investec advises selling PVR Inox shares with a target price of Rs 1,273. They anticipate a weak first half of FY25 due to tough comparisons with the previous year and ongoing content challenges.
Jefferies on HDFC Bank: Buy | Target Price: Rs 1,890
Jefferies maintains a buy rating on HDFC Bank, increasing the target price to Rs 1,890 from Rs 1,880. They note positive margin expansion and manageable slippages due to seasonal factors, though earnings from HDB Financial Services have softened.
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