Latest news with #Antique
Economic Times
2 days ago
- Business
- Economic Times
Asian Paints shares in focus after 6% fall in Q1 PAT. Should you buy, sell or hold?
Asian Paints is likely to be in the spotlight on Wednesday after the company reported a 6% year-on-year (YoY) decline in its consolidated net profit for the June quarter of FY26. The profit after tax (PAT) stood at Rs 1,100 crore, compared to Rs 1,170 crore in the same quarter of the previous financial year. ADVERTISEMENT Revenue from operations during the quarter under review came in at Rs 8,924 crore, marginally down by 0.20% from Rs 8,943 crore in Q1FY25. On a sequential basis, however, the company witnessed a strong rebound in profitability. PAT rose 59% quarter-on-quarter (QoQ) from Rs 692 crore reported in Q4FY25. Revenue also improved 7% QoQ, up from Rs 8,330 crore in the January–March quarter. Brokerage firm Antique has maintained a "Hold" rating on Asian Paints, raising its target price to Rs 2,469 from Rs 2, firm noted that volume recovery is now visible. However, it cautioned that short- to medium-term profitability could remain under pressure due to higher rebates, increased marketing spends, and rising operational costs. ADVERTISEMENT Despite these headwinds, Antique has revised its earnings estimates for FY26 and FY27 upwards by 2% and 1%, respectively, driven by improved profitability and volume recovery. ADVERTISEMENT Avendus has maintained its "Reduce" rating on Asian Paints while revising the target price downward to Rs 2,300 from Rs 2, brokerage expects the company's growth trajectory to improve sequentially in FY26. However, it also highlighted that near-term revenue growth is likely to face headwinds from unseasonal rains, heightened competitive intensity, and pricing actions. ADVERTISEMENT As a result, Avendus has cut its revenue estimates for FY26 and FY27 by approximately 2%. Additionally, margins are expected to remain at the lower end of the management's guidance Oswal has maintained a "Neutral" rating on Asian Paints, with a target price of Rs 2,500. ADVERTISEMENT The brokerage noted that while challenges continue, a significant revival still appears to be some time away. Asian Paints is witnessing early signs of demand recovery in urban areas, though rural demand remains in June and July 2025 was muted, but the management remains hopeful of a recovery by September 2025. The company is aiming for single-digit growth in both value and volume in the near term. EBITDA margin guidance has been maintained in the range of 18–20%, and a capex of Rs 700 crore has been planned for FY26. Estimates for FY26 and FY27 remain largely unchanged. Also read: 10 BSE largecap stocks analysts expect to surge up to 28% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
4 days ago
- Business
- Economic Times
Kotak Mahindra Bank shares plunge over 6% after muted Q1 show. Should you sell now?
Kotak Mahindra Bank shares fell 6.5% to the day's low of Rs 1,986.55 on BSE on Monday, July 28, following the announcement of its Q1 FY26 results. The private lender reported a 7% year-on-year decline in standalone net profit for the June quarter, at Rs 3,282 crore, down from Rs 3,520 crore a year ago. ADVERTISEMENT The dip in net profit comes despite a healthy rise in the bank's net interest income (NII), which grew 6% YoY to Rs 7,259 crore in Q1FY26 from Rs 6,842 crore in Q1FY25. The bank clarified that the reported profit was adjusted for a one-time gain from the sale of its general insurance business. If this gain is included, the unadjusted net profit for the year-ago quarter was significantly higher at Rs 6,250 crore. This quarter's earnings also exclude any gains from the divestment of Kotak General Insurance (KGI), which ceased to be a wholly owned subsidiary on June 18, 2024. Following the divestment, KGI has become an associate of the bank. Despite the decline in PAT, Kotak Mahindra Bank witnessed robust growth in its lending and deposit base during the advances for Q1FY26 grew 14% year-on-year, with net advances rising to Rs 4,44,823 crore as of June 30, 2025, compared to Rs 3,89,957 crore a year earlier. On the deposit front, the bank reported a 13% YoY increase in average total deposits, which grew to Rs 4,91,998 crore in Q1FY26 from Rs 4,35,603 crore in the same quarter last year. After the bank's Q1 results, domestic brokerage firm Antique has maintained a 'Buy' rating on Kotak Mahindra Bank but has revised its target price downward to Rs 2,440 from Rs 2,540. ADVERTISEMENT Also read: NSDL IPO: Issue opens on July 30, here's what you need to know about GMP, issue details Antique said that the earnings miss for the quarter was attributed to a higher-than-expected decline in margins and elevated credit costs. While loan growth was led by the corporate and secured retail segments, unsecured lending remained weak. Margins came under pressure due to rapid External Benchmark Lending Rate (EBLR) repricing and a shrinking unsecured mix. ADVERTISEMENT The bank also saw a deterioration in asset quality within the microfinance (MFI) and retail commercial vehicle (CV) segments. However, a rebound in unsecured credit is expected in FY26/27, which could support future to margin and credit cost concerns, Antique has lowered its FY26/27 earnings estimates by 6% and 3%, respectively. Nonetheless, the brokerage finds valuations to be reasonable at 2.2 times one-year forward price-to-book, with return on assets (RoA) at 2.2% and return on equity (RoE) projected at 14% for FY26–28. ADVERTISEMENT On Friday, the shares of Kotak Mahindra Bank closed (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
25-07-2025
- Business
- Time of India
Buy, Sell or Hold: Motilal Oswal remains neutral on Bajaj Finance; Antique raises Canara Bank's target price
Brokerages remain selectively optimistic on Indian equities, focusing on sectoral resilience and earnings visibility over the next 12 months. Recent stock updates reflect divergent views across financials and specialty chemicals. While Motilal Oswal is cautious on Bajaj Finance due to MSME headwinds and limited valuation upside, it acknowledges the company's stable core performance and strong return metrics. Explore courses from Top Institutes in Please select course: Select a Course Category Technology Cybersecurity Design Thinking PGDM Digital Marketing Data Science Public Policy others Data Science Degree CXO Management Finance Healthcare MCA Leadership Artificial Intelligence Project Management MBA Data Analytics Operations Management Others Product Management Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details In contrast, Antique is upbeat on Canara Bank , citing strong other income and sustained return ratios, leading it to raise earnings estimates and the target price. Meanwhile, Nuvama sees tailwinds for SRF , supported by a capex revival and continued strength in its specialty chemicals business, prompting a higher target price and a positive growth outlook. Brokerage Recommendations Snapshot Motilal Oswal on Bajaj Finance: Neutral | Target Price: Rs 1,000 Motilal Oswal has maintained a 'Neutral' rating on Bajaj Finance with a target of Rs 1,000. The brokerage noted that while the company's core performance remains steady, challenges in the MSME segment persist. Credit costs are expected to stay below the guided upper limit, offering some comfort. PAT estimates for FY26 and FY27 remain largely unchanged. The firm projects a 24% CAGR in AUM and a 25% CAGR in PAT over FY25–27, with estimated RoA of ~4.1% and RoE of ~21% by FY27. Antique on Canara Bank: Buy | Target Price: Rs 140 (from Rs 135) | LTP: Rs 113 | Upside: 23% Antique has reiterated a 'Buy' rating on Canara Bank, raising its target to Rs 140, implying a 23% upside from the current market price of Rs 113. Despite a miss on Net Interest Income (NII), the bank delivered a PAT beat, driven by strong other income. RoA remains above 1% and is expected to sustain in FY26–27. Antique revised its earnings estimates upward by 11% for FY26 and 3% for FY27. Nuvama on SRF: Buy | Target Price: Rs 3,622 (from Rs 3,393) | LTP: Rs 3,144 | Upside: 15% Nuvama has reaffirmed a 'Buy' rating on SRF and raised its target price to Rs 3,622, indicating a 15% upside. The bullish outlook is supported by signs of a capex revival and strong performance in specialty chemicals. The BOPP segment also remains strategically important. SRF has planned capex of Rs 2,400–2,500 crore for FY26E and maintains a 20% growth guidance for its chemicals business amid improving demand sentiment. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)
Economic Times
24-07-2025
- Business
- Economic Times
Buy, Sell or Hold: Antique maintains Hold on Infosys; Nuvama maintains Buy on Dr Reddy's Laboratories
Live Events Antique on Infosys: Hold | Target price: Rs 1,750 Nuvama on Dr. Reddy's Laboratories: Buy | Target: Rs 1,486 | LTP: Rs 1,247 | Upside: 19% Motilal Oswal on Tata Consumer Products: Buy | Target: Rs 1,270 (earlier Rs 1,300) | LTP: Rs 1,062 | Upside: 19% (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Brokerages have shared their latest views on key Indian stocks, highlighting a mix of steady performance, emerging growth drivers, and sector-specific Antique has maintained a cautious stance on Infosys , citing margin pressures and limited changes in organic growth guidance, Nuvama remains optimistic about Dr. Reddy's Laboratories, driven by pipeline progress and a strong outlook for its CDMO Motilal Oswal has reiterated its bullish view on Tata Consumer Products , expecting margin expansion and synergies from recent acquisitions to support earnings a summary of their recommendations and insights for the next 12 have compiled key brokerage recommendations from ET Now and other sources:Antique has maintained a 'Hold' rating on Infosys with a target price of Rs 1,750. While the company delivered a strong quarterly performance, its organic growth guidance remains largely reported a robust total contract value (TCV) of $3.8 billion, reflecting solid deal bookings. However, discretionary spending remains weak, and the company continues to face margin headwinds. As a result, EPS estimates for FY26 and FY27 remain has maintained a 'Buy' rating on Dr. Reddy's Laboratories with a target price of Rs 1,486, implying a 19% upside from the last traded price of Rs 1, the company's Q1 performance was below expectations, new growth drivers are emerging. Semaglutide's progress in Canada remains on track, and a US filing for Abatacept is expected—both positive CDMO business is expected to contribute $100 million in FY26, with a target of reaching $300 million by FY30—a significant upside the company has reaffirmed its 25% margin guidance, backed by ongoing cost optimisation Oswal has reiterated its 'Buy' rating on Tata Consumer Products, revising the target price slightly to Rs 1,270 from Rs 1,300, indicating a 19% upside from the current price of Rs 1, brokerage expects moderating tea prices to support margin expansion starting Q2FY26. Consolidated margins are likely to improve, led by the tea business, while the international segment is expected to sustain its from the integration of Capital Foods and Organic India are also expected to boost the domestic food segment. The company has guided for ~16% EBITDA margin by has accordingly raised its EBITDA estimates for FY26 and FY27 by 7% and 3%, respectively.
Economic Times
24-07-2025
- Business
- Economic Times
Persistent Systems shares crack 7% despite 39% YoY Q1 profit jump. Should you buy now?
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Here is what various brokerage firms said: Antique: Hold| Target price: Rs 5,350 Nuvama: Buy| Target price: Rs 6,600 Tired of too many ads? Remove Ads Motilal Oswal: Buy| Target price: Rs 6,800 Shares of Persistent Systems cracked 7% to their day's low of Rs 5,217.25 on the BSE in early trade on Thursday, July 24, even after the company reported a 38.7% year-on-year (YoY) increase in its consolidated profit after tax (PAT) for the first quarter ended June 30, 2025 (Q1FY26). PAT stood at Rs 425 crore, up 7.4% on a sequential from operations rose 21.8% YoY to Rs 3,333.59 crore and increased 2.8% quarter-on-quarter (QoQ). In dollar terms, the revenue stood at $389.7 million, registering 18.8% YoY growth and 3.9% sequential currency revenue growth was 19% YoY and 3.3% before interest and tax (EBIT) for the quarter stood at Rs 517.81 crore, a growth of 34.8% YoY and 2.5% QoQ, with an EBIT margin of 15.5%.Profit before tax (PBT) was recorded at Rs 555.41 crore, reflecting a 38.7% YoY increase and a 9.9% sequential rise. The company's PAT margin stood at 12.7%.Persistent Systems reported Total Contract Value (TCV) of $520.8 million and Annual Contract Value (ACV) of $385.3 million for the quarter ended June 30, 2025. These numbers represent the company's order bookings for has maintained a Hold rating on Persistent Systems while revising its target price downward to Rs 5,350 from Rs 5, revision follows a miss in the first quarter results and a slowdown in the Healthcare segment, which has moderated overall growth. The brokerage has also cited client-related issues that have led to a 2% cut in the FY26 revenue growth EPS estimates for FY26 and FY27 have been lowered by 1% and 4%, respectively. Despite these revisions, the margin outlook for the company remains has maintained a Buy rating on Persistent Systems and raised its target price to Rs 6,600 from Rs 6, brokerage highlighted a solid growth outlook and improving deal momentum, noting that strong Total Contract Value (TCV) has helped alleviate key investor remains confident of reaching $2 billion in revenue by FY27, implying a 19% compound annual growth rate (CAGR), despite broader macroeconomic risks. Estimates for FY26 and FY27 remain largely unchanged, with revisions of less than 1%. Nuvama has also raised the valuation multiple to 48x FY27 price-to-earnings (PE) from 45x. Motilal Oswal Financial Services (MOSL) has reiterated its Buy rating on Persistent Systems and revised the target price to Rs 6,800 from Rs 7, brokerage reaffirmed the company's $2 billion revenue target by FY27, implying an 18–19% constant currency CAGR over FY25–27. It highlighted that the BFSI segment will remain a key growth driver in FY26, while momentum in the Hi-Tech sector is improving, aided by AI and modernization Q2FY26, MOSL expects YoY growth of 20.8% in revenue, 35.3% in EBIT, and 36.9% in PAT. It projects an 18% USD revenue CAGR and ~25% EPS CAGR over FY25–27. Margin expansion is expected to support earnings growth, and the estimates for FY26/FY27 remain largely unchanged. Persistent is valued at 48x FY27E EPS, with MOSL citing strong execution as a driver of upside potential.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
