A host of important triggers are likely to influence IT bellwether ( ), , , India, , and Projects' shares based on reviews from top brokerages. Jefferies upgraded its rating on TCS stock and increased its price target following Q1 earnings. Zurich-based UBS reviewed Zomato, Federal Bank, and ABB India.
Meanwhile, Morgan Stanley reaffirmed its 'Buy' rating on Prestige Estates, while Vedant Fashions was downgraded by Axis Capital. Jefferies upgraded the stock from 'Hold' to 'Buy' and raised the target price to Rs 4,615 from Rs 4,030. This upgrade follows TCS' Q1 results surpassing the estimates of the US brokerage, with expectations of a return to growth in its key verticals and markets.
Net hiring was at a 7-quarter high, reflecting emerging signs of revival, Jefferies said. TCS offers value relative to Nifty as its current PE premium is below its 5-year average. UBS has maintained a 'Buy' view on the counter and hiked the target price to Rs 260 from Rs 250.
Industry volume growth was 1% MoM in June, adjusted for the number of days. It said that the quarter gone by saw a push and pull between Zomato and its rival Swiggy. It estimates Zomato's GMV QoQ growth for Q1FY25E at 9%.
UBS has upgraded its rating to 'Buy' from 'Neutral' and hiked the target price to Rs 250 from Rs 180 on favourable risk-reward. It expects a return on assets (RoA) accretion-based re-rating aided by near-term catalysts. The re-rating catalyst will also be clarity on the new CEO and visibility on future st.
