The global brokerage company Citi remains in the mood
maintaining a rating for the purchase of the counter. However, it reduced its target price to Rs 1,085 from Rs 1,800, indicating a 25% increase in the counter compared to its previous closure.
The broker believes that the weakness of China’s export prices will affect the company, which will lead to a decrease in EBITDA by 32-34% against the background of lower sales.
Tata Steel is traded at a P / B value of 0.8x, which is not below its average value of 0.7x. However, stocks may not reach 0.5x levels by 2020, given China’s stimulus expectations.
Another global brokerage company, JP Morgan, remains overweight
with a target price of Rs 499, expecting a 115% increase in the counter compared to the previous close of Rs 232.25.
Vedanta recently put its tuticorin plant up for sale following a backlash from locals over environmental violations. Following the update, shares of Vedanta fell 12% on Monday.
However, JP Morgan believes that the sale of the copper smelter will be a disguised blessing for the company. “LME aluminum prices are returning to Q1FY22 levels, which is a big positive result,” it said.
The Hong Kong-based brokerage firm CLSA is focused on selected pharmaceutical counters, as it believes that Indian pharmaceutical companies with a global footprint will win.
“Companies have expanded their product offerings through both organic and inorganic routes,” said CLSA. He sees a gradual widening of the margin, which leads to an improvement in the rate of return.
He began his reflection on
injection specialist, with a target price of 3,450 rupees per share, hinting at a 35 per cent increase in the counter.
He also started covering
with a buy rating and a target of Rs 710 per share. However, he reduced his target price to Rs 2250 from Rs 2330.
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