Indian market is likely to move higher on Wednesday, tracking positive global cues, but there will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.

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We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:

Vedanta: Overweight| Target Rs 465

JPMorgan upgraded Vedanta to overweight from neutral post December quarter results and raised the target to Rs 465 from Rs 375 which translates into an upside of over 26 per cent from Rs 369 recorded on 8 February.
 

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The company announced multiple positive steps that make a case for re-rating increase target multiple to 4x FY23e EV/EBITDA compared to the earlier multiple of 3.2x.

Bharti Airtel: Buy| Target Rs 915

CLSA maintained a buy rating on Bharti Airtel post December quarter results with a target price of Rs 915 which translates into an upside of nearly 30 per cent from Rs 709 recorded on 8 February.

Consolidated revenue was up 5 per cent on a QoQ basis, and 18 per cent on a YoY basis on comparable basis while EBITDA was up 6 per cent on a QoQ basis and 22 per cent on a YoY basis -- both beat estimates.
 
Bharti Airtel gained 3 mn QoQ, and 30m YoY 4G data subscribers & ARPU of Rs163 was up 6 per cent on a QoQ basis.

The global investment bank forecasts 15 per cent consolidates EBITDA CAGR by FY24CL.

IGL: Outperform| Target Rs 450

CLSA maintained outperform rating on IGL post December quarter results but slashed its target price to Rs 450 from Rs 540 earlier which still translates into an upside of nearly 15 per cent from Rs 392 recorded on 8 February.

Lower opex, higher volumes drove 12 per cent PAT beat. There is a possibility of trebling of domestic gas price which remains a worry. The global investment bank slashed its multiple from 24.2x to 20x.

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)