1-Emkay maintains ‘Buy’ on Dabur with target price of Rs 750.
2-JPMORGAN ON TATA MOTORS
• Maintain Overweight; hike target price to Rs 1,250 from Rs 1,115
• JLR shines in 1QFY25; India PV needs a better performance in H2
• JLR – Volume, mix and commodity benefits offset higher incentives
• India CV – V – resilient margins in an uncertain demand environment
• India PV – Mix and operating leverage turns negative
3-MS ON ITC
(CMP: 494)
MAINTAIN OVERWEIGHT TARGET: 546
• Q1 Revenue & Margin Ahead Of Estimates
• Hotels And Agri Saw Revenue Beats While Cigarettes & FMCG Were In-line
Margin Beat Was Led By Cigarettes And FMCG
3-Citi on Aptus Value Housing
Neutral , TP Rs358
Building AUM growth of 25-28%, credit cost of 35-50bps and C/I of 19-20%,
we expect it to deliver 7.5% RoA/>18% RoE over FY25-27E (introduce FY27 estimates)
We model NIM (calc.) at 12.2% over FY25-27E vs 12.5% in FY24.
4-ITC REVIEW CLSA
O-p, TP raised to Rs 524
Sales 3% ahead of est.
Ebitda also slightly ahead
Cig net segment rev up 7% YoY with a slight dip in margin due to higher leaf tobacco costs
FMCG-others saw 10.4% PBIT growth with 6.3% segment rev growth YoY
5-CitiResearch rates ‘Buy’ on Zomato with a target price of Rs 280.
6-SpiceJet flights from Dubai to India cancelled on July 31 over ‘unpaid dues’
7-GOLDMAN SACHS ON SUN PHARMA
• Maintain Sell; hike target price to Rs 1,450 from Rs 1,350
• India growth masks Spec slowdown, valuations not factoring in multiple risks
• Global Specialty continues to see a slowdown
• India business growth softens
• US generic business sluggish
