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Axis Bank and Tech Mahindra face mixed price targets after Q2 results

EditorPollock Mondal
Published 10/26/2023, 03:09 AM
Updated 10/26/2023, 03:09 AM
© Reuters.

In the wake of Q2 results and corporate developments, brokerages have revised their price targets for a number of stocks, including Axis Bank, Tech Mahindra, Jubilant FoodWorks, and Chalet Hotels.

Axis Bank's Q3 report revealed solid earnings but a lackluster deposit growth. Consequently, Motilal Oswal set a target at Rs 1,150 ($1 = Rs 83.2), Jefferies at Rs 1,250, Macquarie at Rs 980, while Kotak placed the fair value at Rs 1,100.

Tech Mahindra faced a cut in revenue estimates for FY2025-26 by Kotak Institutional Equities. Price targets were set by Antique Stock Broking at Rs 1,225, Motilal Oswal at Rs 1,040, and Kotak itself at Rs 1,150.

Sona BLW Precision beat Q2 estimates with electric vehicles (EVs) accounting for 27% of its revenue. Nuvama Institutional Equities set the target at Rs 500, LKP Securities at Rs 624, and Jefferies at Rs 700.

Jubilant FoodWorks was downgraded to 'HOLD' by Nuvama Institutional Equities with a targeted like-for-like (LFL) growth of 5–6%. Goldman Sachs set its target at Rs 515.

Chalet Hotels reported a Q3 revenue growth of 27% with an Ebitda CAGR of 30%. In response to this development, Emkay Global reduced its target to Rs 620 and Prabhudas Lilladher set a target of Rs 656.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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