Lok Sabha elections results 2019: IndusInd Bank to BoB, brokerages change price targets for these stocks
Even as Lok Sabha elections 2019 counting is going on and the early trends indicate a massive NDA victory, brokerage houses have changed their ratings for some of the stocks.
Even as Lok Sabha elections 2019 counting is going on and the early trends indicate a massive NDA victory, brokerage houses have changed their ratings for some of the stocks. Earlier these stocks were beaten down due to various internal and external factors such as clean up in banking sector, IL&FS fiasco, and US trade issues. Here are price targets given by the brokerage houses for these stocks now:
The bank's target was earlier reduced due to provision for the exposure in IL&FS. CLSA stated that now the bank's asset quality is not that bad. It said that stress asset of the bank is manageable. The target was increased by brokerage house CLSA from 2120 to 2160. On the other hand, brokerage UBS and Goldman Sachs have given "Neutral" rating.
UBS reduced its target price to Rs 1700, while Goldman Sachs gave a target of Rs 1949 for IndusInd Bank due to clean up operations that is going in the bank.
CLSA has given the outperformance rating. The brokerage has increased its target from Rs 540 to Rs 600. UBS has also given a BUY call on the stock. It has set a target of Rs 650 for Cipla.
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Bank of Baroda (BoB):
CLSA has given BUY call for this stock. The target for the stock has been increased to Rs150. The brokerage house maintained that the bank's slippage is on the higher side, but it is going to improve in the coming days. Credit Suisse, however, maintained its underperformance rating. It has set a target of Rs 115.
After early trends suggest that the BJP-led National Democratic Alliance is coming to power with huge margins, benchmark equity indices touched all-time highs. Sensex touched 40,000 mark and Nifty crossed the psychological 12,000 level today. Buoyed by the sentiments, Indian rupee also opened higher.
External factors like oil prices volatility and global trade uncertainties have failed to dampen the market sentiments amid the high octane election season.
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