Kamal Ghorui
Motilal Oswal Securities has initiated its coverage of Jio Financial Services with a buy recommendation and a target price of Rs 320. Analysts said the company is architecting India’s next-gen financial services platform, leveraging ecosystem synergies, data, distribution and discipline for scalable finance. While near-term profitability remains subdued due to the incubation phase of multiple businesses, groundwork is being laid across technology, partnerships, and distribution positions the company for scalable growth over medium to long term.Nuvama has a buy on Jupiter Hospitals with a target price of Rs 1,475. Analysts attended the management meet. They said the management expects Rs 2–3 crore monthly losses for 1.5–2 years, during the ramp-up phase. The catchment area for the company remains large and underpenetrated, serving a population of about 20-lakh with limited nearby competition. Unit metrics shall be in-line with the Thane Hospital by the end of year two onwards. Near-term headwinds are likely to persist for JLHL as margins may face pressure from the commencement of the Dombivli hospital.CLSA has an outperform rating on ASK Auto with the target price at Rs 630. Analysts said the recent stock correction appears driven largely by relative underperformance of small-cap stocks in India over the past three months, and they believe the reaction is overdone. ASK Auto delivered robust yearly revenue/Ebitda (earnings before interest, taxes, depreciation and amortisation) growth of 18%/27% in the third quarter, with its strong execution outlook intact, which is supported by healthy retail two-wheeler volume run-rates. The company faces no business risk from raw material inflation given full pass-through to customers.Jefferies has a buy rating on Coal India with the target price raised to Rs 485 from Rs 450. Analysts said after a 21% earnings per share (EPS) decline over FY24-FY26, expect the company’s earnings trajectory to improve with 9% compounded annual growth rate (CAGR) over FY26-FY28. Recovery in power demand, amid expectations of intense summer and weak rains, should boost the company’s volumes. Higher global coal prices should lift e-auction prices too. Despite rising captive production, the company has broadly retained its 60% share in India’s coal demand.HSBC has a buy rating on Glenmark Pharmaceuticals with the target price raised to Rs 2,600. Analysts said that the recent FDA approval for gFlovent 44mcg inhaler acts as a stepping stone for Glenmark to improve US sales trajectory. Learnings from 44mcg filing should help it to better navigate through FDA review for gFlovent 110mcg ANDA (abbreviated new drug application) ahead. The key catalyst for the company will be consistent new approvals in the US.
