Results for: Brokerage upgrades

Marico’s share price witnessed a significant surge of over 8% on May 7th, driven by positive brokerage sentiment following the company’s impressive Q4 performance. Marico reported a consolidated net profit of ₹ 320 crore in Q4FY24, reflecting a growth of 4.9% year-over-year. The company’s revenue from operations in Q4FY24 also registered an increase of 1.69% YoY to ₹ 2,278 crore, while EBITDA jumped by 12.5% to ₹ 442 crore. This led to an expansion of EBITDA margin by 190 basis points to 19.4%. Brokerage firms such as Nuvama Institutional Equities and Citi provided bullish assessments of Marico’s Q4 performance and revised their EPS estimates and target valuations upward. As a result, Marico’s share price saw a boost, with Nuvama Institutional Equities upgrading their rating to ‘Buy’ and Citi maintaining a ‘Buy’ call.

Kotak Mahindra Bank’s share price outlook has been upgraded by several brokerages, including Jefferies and JPMorgan, which have cited the bank’s strong loan growth, solid asset quality, and compelling valuations. Jefferies has revised its rating on the bank to ‘Outperform’ from ‘Neutral’ and set a share price target of ₹2,070. The brokerage believes that Kotak Mahindra Bank’s compound balance sheet growth could reach 16% annually over the next two years, even after normalizing return on assets (ROA).