JM Financial has recommended a ‘Buy’ call on Five-Star Business Finance with a revised target price of INR 1020. The company has shown a strong growth trajectory, achieving healthy AUM growth and sustained profitability metrics. With its unique positioning and deep understanding of the customer segment, Five-Star is expected to maintain its growth and deliver on profitability and asset quality metrics.
Brokerage firms Jefferies, Citigroup, and Goldman Sachs have given their recommendations on Asian Paints, Maruti Suzuki, and Paytm. Jefferies rates Asian Paints as underperform with a target price of Rs 2,500. Citigroup chooses Maruti Suzuki as its top pick in the auto sector with a target price of Rs 14,200. Goldman Sachs recommends a neutral rating on Paytm with a target price of Rs 450.
Paytm faces a serious risk of customer exodus in the aftermath of regulatory diktats, jeopardising its monetisation and business model, according to Macquarie Equity Research. The parent company, One97 Communications, has been downgraded and its target price reduced. Moving Paytm Payments Bank customers to other bank accounts will require KYC again, making the migration arduous within the RBI’s deadline.
Citigroup downgraded RIL post Q3 results, BofA Securities maintained a buy on UltraTech Cements, Morgan Stanley remained underweight on RBL Bank and Equal Weight on HUL. Here’s a list of recommendations from top brokerage firms.
Analysts have raised target price for shares of JSW Steel by 4-10%, with CLSA Asia Pacific Markets, Nuvama Institutional Equities, and Centrum Broking also upgrading rating for the shares. JSW Steel currently has the capacity to produce around 28 million tonne of steel each year, and this is expected to rise to around 37 million tonne over the next 15-18 months as some of the current expansion plans are completed.
