1 / 5UBS on Tech Mahindra | The brokerage continued with its 'sell' rating on Tech Mahindra with a target price of Rs 1,260. The IT company's Q3 revenue was in line but margin was below estimates, and its slower hiring is likely to cause concern, according to UBS.
2 / 5Nomura on Exide | The brokerage retained a 'buy' call on the stock with a target price of Rs 216. The company's Q3 earnings were below estimates, according to Nomura. The brokerage maintained its FY22-FY24 single digit auto replacement growth estimates for the company.
3 / 5Morgan Stanley on Tech Mahindra | The brokerage maintained its 'overweight' rating on the stock with a target price of Rs 2,100. The company's Q3 revenue was in line but margin as well as earnings per share (EPS) slightly below estimates, according to Morgan Stanley.
4 / 5Nomura on Tech Mahindra | The brokerage retained a 'buy' call on the stock with a target price of Rs 2,200. The company's revenue growth was better than expected but near-term supply challenges weighed on its margin, according to Nomura. The brokerage said Tech Mahindra's deal wins set the stage for strong growth in FY23.
5 / 5Jefferies on ITC | The brokerage has a 'buy' rating on ITC with a target price of Rs 300 apiece. The Union Budget keeps taxes on cigarettes unchanged in a relief for the company, according to Jefferies. The company should see earnings per share at an 11 percent CAGR and is attractively priced, the brokerage said.
