Bank of India
BROKERAGE: MORGAN STANLEY
Price Target: Rs 120 CMP: Rs 85.39 Upside: 40.5%
- Stock remains attractive at 0.5 times FY24 estimated book value; Not pricing in potential earnings turnaround
- Asset quality and balance sheet remain strong.
- Legacy stressed assets appear adequately provided
Siemens
BROKERAGE: JEFFERIES
Price Target: Rs 4,520 CMP: Rs 3,999 Upside: 13%
- Majority of minority shareholders reject sale of Siemens’ Low Voltage motors division to the parent
- Possible scenarios ahead include parent offering higher value or the sale seeing some delay
- Stock a play on the railways and transmission capex cycle and should surprise on earnings
Home First Finance
BROKERAGE: KOTAK INST EQUITIES
Price Target: Rs 1,100 CMP: Rs 869.95 Upside: 26%
- Expect company to deliver 20-23% earnings growth in the next three years
- Company performance allays fears of the execution risk of consistent compounding, competition, and ability to maintain margins
- Early delinquencies increased in line with seasonal trends; expect catch-up over time
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