Motilal Oswal Securities initiated coverage on Jio Financial Services with a buy recommendation and price target of Rs 320. The company is designing a next-generation financial services platform in India, leveraging ecosystem synergies, data, distribution and discipline for scalable financing, analysts said.
While near-term profitability remains weak due to the incubation stage of many companies, the foundation is being laid across technology, partnerships and distribution which puts the company on a path to scalable growth in the medium to long term.Nuvama buys Jupiter Hospitals with a target price of Rs 1,475. Analysts attended the management meeting. The management expects monthly losses of Rs 2-3 lakh crore for 1.5-2 years, during the ramp-up phase, they said.
The company’s catchment area remains large and untapped, serving a population of about 20,000 with limited nearby competition. The unit metrics must be compliant with Thane Hospital by the end of the second year onwards.
Near-term headwinds are likely to persist for JLHL as margins may face pressure from the Dombivli Hospital startup.CLSA has an Outperform rating over ASK Auto with a price target of Rs 630.
Analysts said the recent stock correction appears to be largely driven by the relatively weak performance of small-cap stocks in India over the past three months, and they believe the reaction is overdone. ASK Auto achieved strong YoY revenue/EBITDA (earnings before interest, tax, depreciation and amortisation) growth of 18%/27% in Q3, keeping strong execution outlook intact, supported by good run rates of retail two-wheeler sales volume.
The company does not face any business risks arising from raw material inflation due to its complete access to customers.Jefferies has given a buy rating on Coal India while raising the target price to Rs 485 from Rs 450. Analysts said after EPS declined by 21% during FY24-FY26, they expect the company’s earnings trajectory to improve at a 9% compound annual growth rate (CAGR) during FY26-FY28. A recovery in energy demand, amid expectations of a severe summer and weak rains, would boost the company’s business volumes.
Rising global coal prices would also raise electronic auction prices.
Despite its high production, the company has broadly maintained a 60% share of India’s coal demand.HSBC has a buy rating on Glenmark Pharmaceuticals with a price target raised to Rs 2,600. The recent US Food and Drug Administration approval of the gFlovent 44mcg inhaler serves as a springboard for Glenmark to improve its sales trajectory in the US, analysts said. The lessons learned from saving 44 mcg should help better navigate the FDA’s review of gFlovent 110mcg ANDA (Abbreviated New Drug Application) in the future. The main catalyst for the company will be consistent new approvals in the US.