IndusInd Bank, Jefferies, Citigroup & Goldman Sachs: Top stock recommendations for May 19
Representative image
CLSA
downgraded
IndusInd Bank
to hold with the
target price
reduced to Rs 780. Analysts said that the audit report, released last week, highlighted that Rs 674 crore was incorrectly recorded as interest income during the April-December nine-month period of FY25 and will be reversed in the Jan-March quarter of FY25.
Also, 'other assets' and 'other liabilities' on its balance sheet were inflated by Rs 600 crore. Adjusting for the Rs 674 crore additional interest income implies its core net interest margin (NIM) was 17 basis points lower than its reported NIM. Analysts also cut the bank's FY25 net profit estimate by 22% and cut FY26-27 net profit estimate by 13%-17% due to NIM compression and lower growth.
Jefferies
has a buy on LIC Housing Finance with the target price at Rs 700.
Analysts said the mortgage lender's net profit for the Jan-March quarter was in line with estimates, as better net interest income (NII) and higher other income were offset by higher opex and provenances. Its assets under management grew 7.3% on an annualised basis while disbursements grew 5%. NIM rose 16 basis points on a quarterly basis due to lower cost of funds.
Citigroup
has a buy on PB Fintech with the target price at Rs 2,150.
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Analysts said the company's net profit for the Jan-March quarter beat estimates. Also negligible taxes and a sharp decline in ESOP expense coupled with improvement in margins and robust back book growth aided robust profitability. Sharp moderation in savings led to modest a 22% annualised growth in overall core fresh business, they said.
Goldman Sachs
has a buy on Neuland Laboratories with the target price at Rs 14,775. Analysts expect the company's topline to accelerate by about 30% or more on an annualised basis in FY26.
This is expected to be driven by monetisation of expanded unit III for higher supplies, commercialisation of Cobenfy and a potential fourth molecule, and launch or approvals of newer niche molecules in specialty API.
Nomura
has a neutral rating on Apollo Tyres with the target price at Rs 490. Analysts feel the company's growth recovery remained sub-par with Jan-March quarterly numbers below estimates. They see risks to growth recovery from weak commercial vehicle and exports demand.
However, they said commodity tailwinds have largely been factored in.
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