Brokerages have Vodafone Idea Ltd., Indraprastha Gas Ltd. and JSW Energy Ltd. on their radars following the release of these companies' fourth-quarter earnings. Morgan Stanley has upgraded Container Corp.
NDTV Profit tracks what the brokerages are putting out on specific stocks. Here are all the top calls from the brokerages that you need to know about on Wednesday.
Morgan Stanley Upgrades Container Corp.
Morgan Stanley upgrades Container Corp. to 'equal weight' with a target price of Rs 1,076.
Rail freight market share to improve from 29% to 35% by FY31.
Volume growth to benefit the company
Expects margins of double stacking to be retained by the company.
Sees strong rally on bidding war for government stake.
Nomura On Voltas
Nomura maintains 'buy' on Voltas with a target price of Rs 1,450.
Margins disappointed across segments
Unitary cooling products margin came at 9.2% vs an estimated 10%.
Services margin narrowed to 30.6% vs an estimated 32%.
Expects 20% and 15% volume growth in FY25/FY26.
Nuvama On Vodafone Idea
Nuvama maintains 'hold' on Vodafone Idea with a target price of Rs 14.
The fundraise will enable necessary addition of network, arrest subscriber loss
Tariff hike a necessity for industry.
Assessment: Better than before, but not yet out of the woods.
Citi Research On JSW Energy
Citi Research maintains 'sell' on JSW Energy and raises target price to Rs 435 apiece.
Maintains 'sell' rating on higher valuations.
The research firm raises FY25 earning-per-share estimates by 14%.
Jefferies On JSW Energy
Jefferies maintains 'buy' on JSW Energy and raises target price to Rs 690.
Q4 Ebitda in line with estimates, driven by capacity additions and higher merchant sales.
Mytrah acquisition to have Rs 1,650 annual Ebitda run rate by FY25.
Revises FY25-26 merchant tariff higher to Rs 6/unit, given peak demand trend.
Forecasts 33% EPS CAGR in FY24-27.
Key risks: execution delay, aggressive bidding.
Citi Research On Indraprastha Gas
Citi Research maintains 'buy' on Indraprastha Gas.
Lower margins on higher opex, volume mix.
Industrial volumes in line with estimates, CNG volumes disappointing.
Partial impact of CNG price was felt in Q4.
Jefferies On Indraprastha Gas
Jefferies maintains 'hold' on Indraprastha Gas, raises target price to Rs 450.
Q4 Ebitda missed estimates by 18% on higher gas costs.
FY24 volumes 3% below management guidance.
Pressure on near-term profitability on lower volume growth, full impact of CNG price cut from Q1FY25.
Expects CNG volume growth of 5% CAGR over FY24-26.
EV adoption in NCR puts 30% volume risk.
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