Stocks on broker’s radar: Bandhan Bank has released the Q1 Business Update. According to this, the loan & advans increased by 6.4% annually to Rs 1.33 lakh crore while declined by 2.5% on a quarterly basis. The total deposit increased by 16.1% to Rs 1.55 lakh crore on a year -on basis, while on a quarterly basis 2.3% has increased. On this stock, Nomura has started coverage with a nattral attitude. Along with this, stocks of Reliance and Trent have also come on the radar of brokerage. Morgan Stanley has given an overweight call on Reliance. At the same time, there is an overweight attitude of the brokerage firm on Trent.
Nomura said in its report on Bandhan Bank that its loan growth in Q1 was weak and CASA saw a sharp decline. The CASA ratio fell 430 BPS to 27.1% on a quarterly basis. There was a slight decline in microfinance collection efficiency. There was also a slight decline in non-microphinance collections. On a quarterly basis, the total collection of Efficiency 20 BPS fell to 97.7%. Brokerage has given a neutral call on it. Its target has been fixed at Rs 165.
Morgan Stanley on Reliance
Morgan Stanley has given an overweight call on Reliance’s stock. Its target has been fixed at Rs 1617. According to brokerage, Jamnagar Energy Complex is being made better through Gen AI. A $ 60 billion value from New Energy Warticle is possible. The company will use new energy in the data center and refinery. Global prices of solar panels have stabilized. Investors will increase the trust of earnings in the coming quarter. Refining, chemicals and retail segments can meet expectation.
On the retail sector giant Trent, Morgan Stanley said the company reiterated the target of 10 times the Revenue of FY23. 25-30% CAGR growth can be expected in the next five years. There is no concern about competition. The market has space for multiple players. The company aims to open 250 new stores every year. The foreign brokerage firm has given an overweight rating on this. Its target has been fixed at Rs 6359.
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