- September 19, 2022
- Posted by: Bastion team
- Category: World News
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on SBI: Buy| Target Rs 680
CLSA maintained its buy rating on SBI with a target price of Rs 680. Growth and margins are improving, and the strong growth trend is likely to sustain, it said.
“Margins to trend up over the next few quarters. The asset quality is strong, and there is no urgent need for capital raise,” the note added.
CLSA on HDFC Life: Buy| Target Rs 680
CLSA maintained its buy rating on HDFC Life with a target price of Rs 680. Underperformance should end now, it said.
Share of wallet is set to rise and other channels are also growing sustainably at 17-19 per cent which is positive, it observed.
Value of new business (VNB) margins are stable, including
Life. Valuations are more reasonable now, said the note.
Jefferies on Bajaj Finance: Hold| Target Rs 8000
Jefferies maintained a hold rating on Bajaj Finance with a target price of Rs 8000.
“There is potential to capitalise on the credit card opportunity. It has a shot at being the first NBFC to launch a credit card,” it said.
It could make Rs 900-1,700 crore profit in the next 3 years with growth to support valuation premiums, said the note.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)