← Go back Jan 01, 2024
U.S. Dollar Index at 102.15 U.S. 10-year bond yield at 3.93% Brent crude down 0.07% at $75.84 per barrel Nymex crude flat at $70.38 per barrel GIFT Nifty was at 21,680 as of 07:18 a.m. Bitcoin was up 0.26% at $45,244.94 Maintains 'buy' rating on 8 out of 10 coverage stocks, except Cummins and BHEL Larsen & Toubro Ltd , Siemens Ltd, Thermax Ltd, and KEI industries Ltd were the top picks Expects operating leverage surprise to continue in 2024 Expects upcoming budget signaling govt capex cycle slowdown is potential negative Believes capex cycle remains in favour of industrial stocks The brokerage maintains 'equal-weight' with a price target of Rs 285 Mahindra & Mahindra Financial Services' disbursements softer than expected; Gross Stage 3 asset declined Downside risks to AUM growth remain, project 15% growth in Q4 Sees limited upside on muted ROE, downside risks to earnings forecasts Emkay Global upgraded L&T Finance Holdings to 'buy' with revised target price of Rs 190 apiece. Rural, two-wheeler and farm equipment segments provide cross-selling and upselling opportunities Strong margins and provision buffer give comfort in sustainable profitable growth Expects business achieving consolidated RoA of 3% in FY26E
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