BOFA Sec on Samvardhana Motherson
Buy, TP Rs 220
Beyond Q1 margin blip, growth outlook strong- Organic biz stable Y/Y, Inorganic adds 22% of rev & electronics new opportunity
Nomura on HDFC Bank
Neutral Call, Target Rs 1,720
Increased Priority Sector Lending (PSL) Requirements To Have Marginal NIM Impact
NIM Improvement Led By Better Funding Mix Remains Key RoA Driver
NIM Improvement Will Come At Cost Of Loan Growth
MACQUARIE ON APOLLO HOSPITALS
(CMP: 6,589)
MAINTAIN UNDERPERFORM
TARGET: 5,040
Q1 Revenue & PAT Largely In-line
Q1 EBITDA Missed Estimate By 6%
Overall, EBITDA Margin Of 13.3%
Came Below Estimate Of 14%
Jefferies on Hindalco
Buy Call, Target Rs 800
Q1 EBITDA Rose 32% YoY & In-line With Estimates
India Business Is Delivering Well With Good Cost Control In Aluminum
India Business Is Delivering Better Margins In Copper
The Recent Slide In Aluminium Price Poses Some Headwind
Novelis Is Benefiting From Improved Beverage Can Demand
The Flooding Issue At Swiss Plant Should Normalise In H2
Co’s 1.2x FY25 PB Is Reasonable
