Latest news with #NuvamaInstitutionalEquities
Economic Times
5 days ago
- Automotive
- Economic Times
Nuvama sees India as auto safe haven, bets on Eicher, TVS, M&M, Maruti amid global slowdown
Nuvama Institutional Equities has turned bullish on key Indian auto stocks, backing domestic demand resilience and new product momentum. It issued 'buy' calls on Eicher, TVS, Maruti, M&M and others, while cutting ratings for Tata Motors and Ashok Leyland. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India a bright spot Global outlook weak Nuvama Institutional Equities is betting on Indian two-wheeler, passenger vehicle and tractor majors including Eicher Motors Maruti Suzuki and Mahindra & Mahindra to outperform, citing resilient domestic demand and product momentum, even as the global auto industry faces broad-based volume declines in brokerage has turned selectively bullish on Indian auto stocks, issuing 'buy' ratings for four two-wheeler manufacturers, Eicher Motors with a target price of Rs 6,200, TVS Motors at Rs 3,200, Bajaj Auto at Rs 10,700, and Hero MotoCorp at Rs 5,100, and naming them as key beneficiaries of 'domestic strength, new launches and premiumisation tailwinds.' Nuvama said the two-wheeler export cycle has likely bottomed out and expects Bajaj and TVS to 'lead the pack on volume growth.'Nuvama also maintained a positive view on passenger vehicle major Maruti Suzuki, with a target price of Rs 13,400, and on tractor and utility vehicle maker Mahindra & Mahindra at Rs 3,700. Escorts Kubota was rated 'buy' at Rs 3,600. On the other hand, Tata Motors and Ashok Leyland were rated 'reduce' with target prices of Rs 670 and Rs 240, respectively, citing weak segments and freight-related structural component stocks also feature among the brokerage's top picks. Motherson Wiring India was rated 'buy' with a target of Rs 83, Uno Minda at Rs 1,300 and Sona Comstar at Rs 560. In the tyre segment, Nuvama favours CEAT with a target of Rs 3,800 and Apollo Tyres at Rs 550.'Domestic 2Ws and PVs continue to see tailwinds from demand and product refresh. Export-oriented names should gradually recover as overseas demand stabilises,' Nuvama global pressures, the brokerage sees India's auto landscape as relatively insulated. While global auto players face demand weakness, regulatory overhangs and soft freight markets, the Indian market is benefiting from steady farm incomes, infrastructure activity and improving consumer expects India's domestic tractor industry to grow in the mid-to-high single digits in FY26, supported by 'good Rabi harvest cash flows, higher crop prices, above-normal monsoon expectation, and sufficient water levels in reservoirs.' Escorts expects export growth of 20–25% in the same period, while M&M is upbeat about demand in South India and Leyland sees growth across light, intermediate and heavy commercial vehicles in FY26. Tata Motors forecasts 'single-digit growth,' supported by cargo HCVs and buses, although it flagged risks to high-tonnage trailer volumes from the shift to the Western Dedicated Freight contrast to India's resilience, Nuvama expects the global auto sector to remain subdued in 2025. 'North America HCV volumes are likely to decline up to 16% and Europe HCV by up to 15%,' the brokerage said, citing economic uncertainty, weak freight demand and lack of prebuying amid unclear EPA27 equipment demand is expected to fall by up to 15% in North America and 10% in Europe, while tractor volumes are also projected to remain weak after sharp Q1 declines in both regions. Global PV production is expected to drop in the U.S. and EU, while China may see marginal gains. Bosch forecasts a 4–7% increase in PV production and 7–10% in two-wheelers in India for such as Bharat Forge, Ramkrishna Forgings, Balkrishna Industries and SAMIL are exposed to these global headwinds, but Nuvama said it believes they 'should outpace industry' due to robust order books and a global slowdown weighing on volumes across regions, Nuvama is tilting toward India-centric names that offer visibility on domestic demand and margin tailwinds.
Mint
6 days ago
- Business
- Mint
Up 50% in May! This T&D stock jumps another 5% to hit new record high. Is it in your portfolio?
GE Vernova T&D India share price in focus: Extending its winning streak for the sixth straight session, GE Vernova T&D India's share price surged another 5% in intraday trade on Thursday, May 29, touching a new record high of ₹ 2,334 apiece. This took the six-day cumulative gain to 29%. The surge in demand for the stock came after the company's March quarter results beat Street estimates, helping it maintain a steady upward trend despite sharp volatility in frontline indices. Domestic brokerage firms have also raised their target prices for the stock, lending further support to GE Vernova T&D India's ongoing rally. Since the release of its Q4 numbers on May 23 (post-market hours), the stock has jumped 24% in just four trading sessions and has gained 50% in May so far. For the quarter ended March, the company reported a nearly three-fold jump in net profit to ₹ 186.49 crore, driven by a sharp rise in revenue, which surged to ₹ 1,173.65 crore from ₹ 919.31 crore a year earlier. For FY25, net profit and revenue grew by 235% and 35.5%, reaching ₹ 608 crore and ₹ 4292 crore, respectively. Operating profit margin for Q4FY25 surged to 21.9%, compared to 12.1% in the same quarter last year, with FY25 closing at a robust 19.1% versus 10.1% in FY24. In terms of order inflows, the company secured ₹ 30 billion worth of new orders in Q4 — a 125% year-on-year increase — pushing its total order backlog to ₹ 127 billion. This is nearly three times FY25 sales and ensures revenue visibility for the next three to four years. Following GE Vernova T&D India's strong March quarter results, brokerages have revised their target prices upward. Japanese brokerage firm Nomura raised its target price to ₹ 2,600, up from the earlier ₹ 2,500, while maintaining its 'Buy' recommendation. Domestic brokerage Nuvama Institutional Equities also raised its target price to ₹ 2,250 per share, retaining a 'Buy' rating. However, the stock has already surpassed this target during its recent rally. Nuvama highlighted that the company's consistent base order inflow growth of 20–25% per annum, combined with HVDC optionality and sustained operating profit margins of 19.1% in FY25, remains a key growth driver. The brokerage also pointed to a significant rise in exports, which have increased to approximately 30%, up from 20% two to three years ago. This growth is attributed to larger orders from GE's global group entities and international clients across Europe, the Middle East, Southeast Asia, LATAM, and Australia. This export momentum is in addition to India's ongoing transmission and distribution (T&D) investment cycle, with the Central Electricity Authority (CEA) planning to spend ₹ 9.15 trillion over FY22–32, including 8–9 HVDC projects. Of these, equipment orders for at least two HVDC projects are expected within the next 12 months — a development that could position GE Vernova as a major beneficiary in the high-voltage and extra-high-voltage (HV/EHV) segment (220 kV and above), the brokerage added. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Business Upturn
7 days ago
- Business
- Business Upturn
Nuvama cuts Aurobindo Pharma target to Rs 1,485 but retains ‘Buy' on healthy EBITDA margin
By News Desk Published on May 28, 2025, 08:26 IST Nuvama Institutional Equities has retained its Buy rating on Aurobindo Pharma (ARBP) but revised its target price down to ₹1,485 from ₹1,677, citing a mixed Q4 performance and a cautious FY26 outlook. The brokerage said revenue and adjusted EBITDA beat expectations, but PAT (profit after tax) missed estimates. Nuvama noted that the adjusted EBITDA margin of 22.6% was better than anticipated, reflecting effective cost control and operational efficiency. The management has guided for single-digit growth and flat margins in FY26, while FY27 is expected to benefit from new product launches and biosimilar contributions in Europe. This could support stronger performance in the medium term. Despite the margin outperformance, Nuvama has reduced its PAT estimates for FY26E and FY27E by 5% and 4% respectively, factoring in lower earnings visibility and conservative growth assumptions. The report also flagged a potential future trigger in the form of a government announcement on minimum input price for PLI (Production Linked Incentive) scheme products, which could support sector margins. Disclaimer: The views and recommendations expressed above are those of the brokerage firm. Business Upturn does not endorse or offer any investment advice. News desk at
Mint
20-05-2025
- Business
- Mint
Signature Global share price: Motilal Oswal to Nuvama — Brokerages see up to 61% upside after Q4 results 2025
Signature Global shares will be in focus of the stock market investors after the company announced its Janaury to March quarter results last week on 16 May 2025. The real estate development company recorded a 48% rise in its consolidated net profits for the fourth quarter of the 2024-25 fiscal year. Indian brokerage firms expect the real estate sector stock to have an upside of up to 61% in the future. Top brokerages like ICICI Securities, Motilal Oswal, and Nuvama Institutional Equities shed light on the company's stock and their expectation along with a target price for investors. 1. ICICI Securities: Indian brokerage firm ICICI Securities expects a 61% upside for Signature Global stock in the Indian market. The brokerage retained a 'BUY' rating for the stock but revised its target price. They also cited that the company plans to diversify its business beyond the Gurugram market, which will open up possibilities for some greenfield development. ICICI Securities Recommendation: Buy at ₹ 1,236 or CMP; Target Price at ₹ 1,996. 2. Motilal Oswal: Motilal Oswal Financial Services pegged the stock's potential upside at 42% and cited the company's strong 63% CAGR in pre-sales from FY2021 to FY2024. They also highlighted that the company is preparing for a strong launch pipeline of premium projects, which are expected to bring in a 31% CAGR in bookings over the period from the financial year 2025 to the fiscal year 2027. 'We have valued the current residential portfolio by discounting the cash flows from all projects and accounting for the recent BD as well as potential land investments of ₹ 15 billion for future growth,' said the brokerage firm. Motilal Oswal Recommendations: Buy at ₹ 1,236 or CMP; Target Price at ₹ 1,760. 3. Nuvama Institutional Equities: The brokerage firm Nuvama Institutional Equities expects the Signature Global shares to have a potential upside of 18.18% in the next one-year period. Nuvama also attributed its view to the robust housing demand in the Indian market, along with the company's strong market presence in Gurugram, with the potential to grow into Delhi and Noida. Nuvama Institutional Equities Recommendations: Buy at (CMP); Target Price at ₹ 1,456. Signature Global shares closed 0.39% higher at ₹ 1,257.50 after Tuesday's stock market session, compared to ₹ 1,252.60 at the previous market close. The real estate developer shares have given stock market investors more than 160% returns on investment in the last five years. However, the shares have also lost 3.03% in the last one-year period. On a year-to-date (YTD) basis, the shares are down 7.54% in 2025. The shares hit their 52-week high levels at ₹ 1,645.85 on 16 September 2024, while the 52-week low level was at ₹ 1,010.95 on 6 March 2025, according to the data collected from the BSE website. The company's market capitalisation (M-Cap) was at ₹ 17,669.22 crore as of the stock market close on 19 May 2025. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
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Business Standard
19-05-2025
- Business
- Business Standard
IndiGo to announce Q4 results, dividend on May 21; here's what to expect
IndiGo Q4 results 2025: Analysts predict InterGlobe Aviation-run IndiGo to report robust revenue growth on higher passenger load factor and better yields. New Delhi IndiGo Q4 results 2025: InterGlobe Aviation-owned IndiGo is set to report its March 2025 (Q4FY25) results this week. Analysts predict the budget airline to report robust revenue growth on higher passenger load factor and better yields. IndiGo Q4 results 2025 date: IndiGo will report its Q4 results on Wednesday, May 21, 2025. "A meeting of the Board of Directors is scheduled to be held on Wednesday, May 21, 2025, inter-alia, to consider and approve the Audited (standalone & consolidated) Financial Results of the Company for the quarter and financial year ended March 31, 2025," IndiGo said in a stock exchange filing. IndiGo dividend news: Apart from the announcement of the financial results, InterGlobe Aviation said its Board will consider dividend payout for IndiGo shareholders on May 21. "We wish to inform that the Board of Directors of the Company, at its meeting scheduled to be held on Wednesday, May 21, 2025, shall, inter alia, consider the recommendation of dividend, if any, for the financial year ended March 31, 2025," it said. IndiGo Q4 results 2025 expectations: Nuvama Institutional Equities Analysts at Nuvama Institutional Equities expect IndiGo to report an 18-per cent year-on-year (Y-o-Y) growth in net profit. It pegs IndiGo Q4FY25 net profit at ₹2,241.6 crore, up from ₹1,894.8 crore seen in Q4FY24. On a sequential basis, however, this would mean an 8 per cent drop in profit from ₹2,448.8 crore. Operationally, the brokerage sees IndiGo's Q4 revenue surging 20 per cent Y-o-Y to ₹21,373.8 crore from ₹17,825.3 crore. EBITDAR (earnings before interest, tax, depreciation, amortization, and rent), meanwhile, is seen climbing 34 per cent Y-o-Y to ₹5,898.6 crore. "We expect Q4FY25 EBITDAR to grow by 34 per cent Y-o-Y on improvement in yields by 1 per cent, higher revenue passenger kilometer (RPKMs) by 23 per cent due to a 17-per cent increase in revenue passengers and 6 per cent lower fuel cost per available seat kilometer (CASK)," it said. On a quarter-on-quarter (Q-o-Q) basis, however, revenue and EBITDAR are expected to fall 3 per cent and 1 per cent, respectively. Motilal Oswal Financial Services Contrary to Nuvama, Motilal Oswal analysts expect IndiGo's Q4FY25 net profit to fall to ₹1,330 crore amid lower air fares in the March quarter. According to the brokerage's database, IndiGo's average fare in Q4FY25 was down 13 per cent Q-o-Q at ₹5,887 on one-month forward bookings, while the same was down 4 per cent Q-o-Q at ₹6,402 on 15-day forward bookings. It expects EBITDAR to rise marginally to ₹4,630 crore, and Ebitda to stay flat at ₹3,880 crore vs ₹3,980 crore Y-o-Y. Motilal Oswal expects IndiGo's Ebitda margin to contract to 17 per cent in Q4FY25 vs 22.4 per cent in Q4FY24 and 23.3 per cent in Q3FY25. Nonetheless, revenue is seen rising 27.5 per cent Y-o-Y to ₹22,720 crore. Sequentially, it would be flat compared to a revenue of ₹22,110.7 crore seen in Q3FY25. It projects ASK growth at 20% per cent Y-o-Y, passenger load factor (PLF) at 90.8 per cent (up from 86.2 per cent in Q4FY24), and RPK growth at 26 per cent Y-o-Y. "Outlook on P&W engine-fitted aircraft (being grounded in CY25) is a key monitorable. Further, the commentary on impending competition would be keenly monitored," the brokerage said. ICICI Securities This brokerage, too, expects IndiGo's ASK (available seat kilometers) to rise 20 per cent Y-o-Y and 2.4 per cent Q-o-Q to 41.8 billion. With passenger count at 31.5 million, up 18 per cent Y-o-Y/1.3 per cent Q-o-Q, it sees RASK at ₹5.12, flat Y-o-Y. Adjusting for fuel expenses (CASK at ₹4.74), net profit is seen at 2,330.4 crore, up 23 per cent Y-o-Y. IndiGo share price Ahead of the result announcement, IndiGo share price hit a record high of ₹5.665.65 per share on the BSE on Monday, May 19, 2025. IndiGo shares have surged 22.2 per cent so far this calendar year, as against around 4 per cent rise in the benchmark BSE Sensex index.
