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In a series of recent assessments by financial firms, JSW Energy has maintained its sell position at an unchanged target price, according to CLSA. The firm also continues to hold a sell position on JSW Steel, although the target price has been raised to Rs 250 from Rs 234.
CLSA remains bullish on Paytm, raising its target price to Rs 1200 from Rs 1050. This move is supported by robust GMV growth, a steady take rate in the lending business, and a new partnership. Ebitda estimates for the company were also increased by 12%-13% due to stronger GMV growth.
Kotak Mahindra Bank’s outperform rating is being maintained by CLSA. However, the target price has been reduced to Rs 2050 from Rs 2200 following the unexpected appointment of an external CEO, ending a year-long leadership speculation. Despite this change, the bank’s loan growth is progressing as expected.
Jefferies has recommended buying ICICI Bank following its Q2 results. The target price has been raised to Rs 1250 from Rs 1240 due to a slight NII increase despite NIM compression and low credit costs resulting from corporate NPL upgrades. The bank’s management expressed satisfaction with their retail book quality and anticipates delivering an 18% ROE in FY25, thus retaining it as a top pick in Jefferies’s portfolio.
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