Stock Market Updates: Kya Chal Raha Hai?
Hello doston! Aaj hum lekar aaye hain stock market ki kuch garamagarm khabrein. Kal, yaani Wednesday ko, Trent Ltd., BSE Ltd., aur Voltas Ltd. brokerages ke radar par top companies mein se the. Chaliye, dekhte hain analysts in companies ke baare mein kya keh rahe hain.
Morgan Stanley on Avenue Supermarts (DMart)
Morgan Stanley ne Avenue Supermarts par ‘Underweight’ rating maintain ki hai, jiska target price Rs 3,260 hai. Uttar Pradesh mein pehla bada store khul gaya hai, jo India ka sabse populous state hai. DMart apne retail stores ke liye ownership model follow karta hai aur store expansion ke liye cluster-based approach use karta hai. UP mein is opening ko ek positive step maana ja raha hai aur company ke expansion ki pace par close nazar rakhi jayegi.
Jefferies on Adani Ports
Jefferies ne Adani Ports par ‘Buy’ rating maintain ki hai, jiska target price Rs 1,700 hai. Company ka target hai ki woh 2030 tak duniya ki sabse badi integrated transport utility companies mein se ek ban jaye. FY29 tak 2.2-2.5x Net D/Ebitda target ko leverage karne se FY26E-29E mein acquisitions/equity actions ke liye Rs 25,000 crore funds ka pata chalta hai. Annual report mein South East Asia-India-Middle East-Africa Corridor mein strong presence banane par focus reiterate kiya gaya hai.
Morgan Stanley on Trent
Morgan Stanley ne Trent par ‘Overweight’ rating maintain ki hai, jiska target price Rs 6,359 hai. Management ko 2023 mein bataye gaye apne ambition ko achieve karne ka pura vishwas hai. Company ka aim hai ki woh profitability ko balance karte hue bahut kam samay mein 10 guna badi ho jaye. Umeed hai ki company FY32 tak apne FY23 revenues ka 10 guna achieve kar legi. Store portfolio ki quality aur proximate markets mein store density badhane par focus bana hua hai. Company revenue growth aur micro-market mein share badhane ke liye under penetrated markets mein expand kar rahi hai. Trent FY25 mein free cash flow aur net cash positive tha. Better profitability aur improving asset turns se return ratios record levels tak improve hue hain.
Citi on Trent
Citi ne Trent par ‘Buy’ rating maintain ki hai, jiska target price Rs 7,600 hai. Har saal 200 store expansion doable lagta hai, jisse quality/experience, economics aur location ensure ho sake. Naye stores opening ke 12-24 months mein bahut high throughput/maturity tak pahunch jaate hain. Trent ke liye majority SSSG volume driven hai kyunki Trent price hike nahi karta hai. Value retail zero-sum game nahi hai aur multiple winners honge. Store economics ki wajah se Trent barely consolidate/close karta hai.
BofA on Aviation India
Geopolitics aur AI 171 ka summer peak par asar pad sakta hai. June ke H1 mein Indian air traffic growth average +8% YoY raha, jismein geopolitical booking cancellations ka kuch asar dikh raha hai. Summer peak traffic growth H2 June mein bhi continue reh sakta hai. Air India 171 ke tragic loss se H2 June ke through travel demand par kuch asar pad sakta hai.
Goldman Sachs on Larsen & Turbo
Goldman Sachs ne Larsen & Turbo par ‘Neutral’ rating maintain ki hai; Target Price ko Rs 3,260 se badhakar Rs 3,400 kar diya hai. Ek achhe quarter ki umeed hai; sabhi ki nigahen international execution par hain. Strong order book se revenue, Ebitda aur PAT mein healthy double digit growth ki umeed hai. Core Ebitda margin mein 20 basis points improvement ki umeed hai, jo Q1FY25 mein 7.8% ke muqable 8% hai. Middle East mein increasing geopolitical uncertainty ko dekhte hue commentary par close nazar rakhi jayegi.
Goldman Sachs on BSE
Goldman Sachs ne BSE par ‘Neutral’ rating maintain ki hai; Target Price ko Rs 2,490 se kam karke Rs 2,430 kar diya hai. Expiry day ko Thursday karne se BSE 3 percentage points market share kho sakta hai. BSE ke FY26 EPS ko 2% se cut kiya gaya hai, lekin FY27/28 EPS estimates largely unchanged hain. Risk-reward balanced lagta hai.
UBS on Voltas
UBS ne Voltas par ‘Buy’ rating maintain ki hai, jiska target price Rs 1,725 hai. Early monsoon se sales par asar pada hai; lekin priced in. Pricing mein koi disruption nahi dikh raha hai, lekin higher value added offer kiya ja raha hai. Weak demand ke bawajood capex plans track par hain; VoltBek JV achha perform kar raha hai. RAC sabse tezi se growing category bana rahega, albeit a non linear growth.
Nuvama on Voltas
Nuvama ne Voltas par ‘Hold’ rating maintain ki hai; Target Price ko Rs 1,250 se kam karke Rs 1,190 kar diya hai. Voltas ne highlight kiya:- RAC volumes mein industry-wide 20–25% YoY dip aur khud ke liye bhi similar trend. June mein pickup dekha gaya, particularly north mein. Channel inventory six–eight weeks ki hai. Players dwara freebies (installation, warranty, etc) roll out kiye ja rahe hain. Voltas ne market share gain karne ka apna medium-term target retain kiya hai. International EMP ke weak rehne ki umeed hai (FY25 mein koi naya order nahi) jabki domestic mein FY26E/27E mein order inflows aur execution mein pickup dikhega.
