Brokerage Radar: Nuvama is optimistic about BSE, while Goldman Sachs recommends selling CreditAccess.
BSE: Explore the latest brokerage calls and analyst comments on the stocks making waves today. Our coverage includes insights on HDFC AMC, BSE, oil marketing companies, and more.
Nuvama on BSE has initiated a Buy Call with a target price of Rs 6,730 per share. Despite regulatory tightening, derivatives are expected to scale up, with a forecasted FY24-27 Revenue/APAT CAGR of 39.9%/70.8%, boosting RoE to 37.9%. Lower clearing charges are anticipated to send margins soaring, supported by a robust structure and multiple revenue streams. The current stock price is trading at FY26/27 P/E of 43.9x/37.6x.
HSBC’s analysis on HDFC AMC suggests a Hold Call with a target price of Rs 4,350 per share. Rationalization of commission payouts and controlled operating costs have driven strong profit growth in Q3. However, stagnant market share in equity AUM and SIP flows may put pressure on valuations. EPS for FY25-27 has been raised by 0.4-4.1%.
Nomura recommends a Buy Call on HDFC AMC with a target price of Rs 5,250 per share. Higher operating revenue and lower operating expenses resulted in a 6% beat in operating profit. EPS for FY25-27 has been raised by 2-3%, with a steady overall and equity AUM market share, although SIP flow market share declined by 60 bps QoQ.
HSBC’s analysis on OMCs highlights that volatility in oil prices may reduce the risk of auto fuel pump price reductions, which is the biggest threat to profitability. The return of auto fuels demand in non-controlled products is expected to offset weakness in marketing margins. OMCs (BPCL, HPCL, IOC) are recommended as a Buy, especially with recent stock corrections making them more attractive.
GS’s analysis on CreditAccess suggests a Sell Call with
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.