ICICI Securities has an ‘add’ recommendation on LIC Housing Finance with a target price of Rs 640 (+11%). Analysts said the company’s margin fell for the third consecutive quarter to an eight-quarter low on the back of pressure on yields. Asset quality metrics, however, continue to exhibit resilience. Given the stock is currently inexpensive, they maintained their ‘add’ rating on LIC Housing Finance.
InCred Equities has maintained its ‘add’ recommendation on Divi’s Laboratories with a target price of Rs 6,560 (+8%). Analysts feel Oct-Dec quarterly results were in line with expectations. Generics business also recovered marginally. Tailwinds from the BioSecure Act, large ongoing as well as completed capex and new growth avenues kept the analysts constructive.
Motilal Oswal Financial Services has a ‘neutral’ recommendation on Tata Chemicals with a target price of Rs 1,030 (+12%). After factoring in the weak Oct-Dec performance, analysts cut their FY25 EBITDA estimates by 11%. The closure of the Lostock plant in the UK and lower levels of realization in the near term can result in lower profitability. Hence, they cut their estimates going forward but reiterate the rating.
Elara Securities India has maintained its ‘buy’ recommendation on ONGC with a target price of Rs 327 (+29%). Analysts expect about 5% oil & gas production CAGR during FY24-28E and higher natural gas realization from new wells and fields of nominated blocks. They cut ONGC’s consolidated EPS by 19% for FY26E and by 11% for FY27E, due to reduced profitability estimates of subsidiaries and lower international crude oil prices. But they kept their target price unchanged as they ascribed a higher EV/EBITDA for FY27 due to production growth visibility.
Centrum Broking has a ‘buy’ recommendation on Nuvama Wealth with a target price of Rs 8,615 (+51%) on the back of robust business outlook. Analysts said Nuvama Wealth’s Oct-Dec net profit was up 43% YoY while its overall AUM growth was robust. The asset clearing business posted strong growth and the IB/IE business too was decent. The wealth businesses saw fresh hiring of relationship managers.
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