Jindal Stainless, Angel One, L&T Finance, Apollo Hospitals, Federal Bank: Analyst views

Amid a busy earnings season, brokerages have come up with updates on many stocks including as Angel One, L&T Finance, Apollo Hospitals, Federal Bank. Among these stocks, L&T Finance, Federal Bank and Jindal Stainless have seen revision in price targets. Motilal Oswal for now maintained a ‘Buy’ on Angel One and said it will revise its target price on the stock, if any, only after today’s earnings call. 

Angel One | Buy

Motilal Oswal said Angel One is a perfect play on the financialisation of savings and digitisation. It demonstrated a strong performance in the December quarter amid volatile market conditions. The management continues to invest in technology to strengthen its position. However, its client addition trajectory and the activation rate have slowed down.

The brokerage noted that Angel One’s profit after tax (PAT) surged 39 per cent YoY (16.9 per cent beat) in the December quarter. The profitability was driven by a 6.2 per cent beat in operating revenue, which rose 32 per cent YoY. The key contributor to the outperformance was a 26 per cent beat in net interest income, it said.

Volatility in the equity market led to a decline in the active client ratio to 33.6 per cent from 36.2 per cent in September quarter. The number of orders declined to 22.6 crore from 23 crore in September quarter, it noted. Angel One continued to strengthen its position in the commodity segment as its market share expanded to 52.4 per cent from 51.1 per cent in September quarter,…

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