CLSA has a hold call on Tata Steel with the target price at Rs 145. Analysts said the steel maker’s consolidated adjusted EBITDA was in-line with estimates, while its standalone volume growth of 3% on an annual basis was helped by capacity ramp-up and seasonal strength. They said Tata Steel’s losses in Europe fell due to the Netherlands returning to profitability. The company also guided for Rs 11,500 crore cost reduction in FY26 across India, UK and the Netherlands. Analysts said translation of savings into EBITDA and cash flow will be key to watch.
Jefferies has a buy rating on UPL with the target price raised to Rs 810. Analysts said that the company in Jan-March quarter posted strong EBITDA growth of 68% on an annualised basis. It also reported healthy cash flows, lower working capital and improved balance sheet. Its net Debt/EBITDA ratio sharply reduced to 1.7x.
Nomura has a reduce rating on ABB with the target price at Rs 4,970. Analysts said the company’s Jan-March numbers were below consensus estimates, while it reported decent order inflows which was about 4% higher compared to estimates. Its base order inflows grew 9.6% on an annualised basis.
HSBC has upgraded IIFL Finance to buy with the target price raised to Rs 550 from Rs 380 earlier. Analysts said recovery in microfinance, higher system liquidity and lower cost of funds to drive earnings per share recovery. On the other hand, potential risks include higher competition in its gold loans business.
Motilal Oswal Securities has a buy rating on Jindal Stainless with the target price at Rs 770. Analysts believe that the company is set for sustainable growth. They expect JSL to strengthen its market dominance and could achieve a 14% CAGR of revenue growth, driven by volume growth of 10% CAGR and net smelter return improvement of 4% CAGR over FY25-27. Analysts expect further deleveraging driven by strong cash flow during FY26-27.
Jefferies has a buy rating on UPL with the target price raised to Rs 810. Analysts said that the company in Jan-March quarter posted strong EBITDA growth of 68% on an annualised basis. It also reported healthy cash flows, lower working capital and improved balance sheet. Its net Debt/EBITDA ratio sharply reduced to 1.7x.
Nomura has a reduce rating on ABB with the target price at Rs 4,970. Analysts said the company’s Jan-March numbers were below consensus estimates, while it reported decent order inflows which was about 4% higher compared to estimates. Its base order inflows grew 9.6% on an annualised basis.
HSBC has upgraded IIFL Finance to buy with the target price raised to Rs 550 from Rs 380 earlier. Analysts said recovery in microfinance, higher system liquidity and lower cost of funds to drive earnings per share recovery. On the other hand, potential risks include higher competition in its gold loans business.
Motilal Oswal Securities has a buy rating on Jindal Stainless with the target price at Rs 770. Analysts believe that the company is set for sustainable growth. They expect JSL to strengthen its market dominance and could achieve a 14% CAGR of revenue growth, driven by volume growth of 10% CAGR and net smelter return improvement of 4% CAGR over FY25-27. Analysts expect further deleveraging driven by strong cash flow during FY26-27.
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