Investing on the day of Diwali is considered auspicious for investors. If you want to invest in new stocks, then you can invest in the shares of Indian Oil and Equitas Holding. The brokerage firm has good views on the shares of both the companies.
Indian Oil Corporation
Rating – HOLD, Target Price – Rs 137
Brokerage Firm – ICICI Securities
ICICI Securities has retained its hold rating for Indian Oil Corporation shares and raised its target price to Rs 137. IndianOil’s second quarter EPS has increased by 3 per cent. This is after the reduction in GRM. This situation has come due to increase in petrochemical Ebitda and jump in market margin. The company’s auto marketing margin is as per the estimates for the financial year 2021-22.
According to the brokerage firm, the EPS for the financial year 2021-22 may increase by 52 percent. There will be inventory gains in the first half, which will increase GRM. The brokerage firm has increased its target price by 28 per cent to Rs 137 and has retained its ‘HOLD’ rating.
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Equitas Holdings
Rating – BUY Target Price – Rs 170
Brokerage Firm – HSBC
Equitas has an outstanding restructured loan of Rs 18.2 billion. However, this is less than the management guidance of this small finance. According to this, it should have been of Rs 21 billion. bank’s Gross NPA remains unchanged at 4.8 per cent. Its 31-90 days overdue loan has come down from 12.4 per cent to 6.5 per cent (quarterly). Its operating expenses increased ( cost to income of 69 percent). Is. Its operating expenses have increased due to investment in technology and increase in marketing expenses. The brokerage firm has retained its BUY rating and has increased its target price to Rs 170.
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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