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Reliance Industries, ICICI Bank, Kotak Mahindra Bank and more: Monday's top brokerage calls
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Reliance Industries, ICICI Bank, Kotak Mahindra Bank and more: Monday's top brokerage calls
Jul 23, 2023 11:00 PM

ICICI Bank | Morgan Stanley has maintained an 'overweight' rating on ICICI Bank with a target of Rs 1,350 per share. It says the deposite growth helped sustain strong domestic loan growth.

ICICI Bank | JPMorgan has maintained an 'overweight' rating on ICICI Bank with a target of Rs 1,150 per share. It says the profit after tax was 7 percent ahead of estimates driven by lower provisions.

ICICI Bank | Jefferies has maintained an 'overweight' rating on ICICI Bank with a target of Rs 1,240 per share. It says its first quarter profit was ahead of estimates with a tad better NIMs.

Kotak Mahindra Bank | JPMorgan has maintained a 'neutral' rating on Kotak Mahindra Bank with a target of Rs 2,070 per share. It says its net income came 3 percent aboe estimates on higher non-interest. It adds that any M&A action could be taken positively by the market in the near term.

Kotak Mahindra Bank | Jefferies has maintained a 'buy' rating on Kotak Mahindra Bank with a target of Rs 2,400 per share. It says loan growth has slowed, high-yielding unsecured loans increased fast and aided margin.

IGL | CLSA has maintained a 'buy' rating on IGL with a target of Rs 600 per share. It says the EBITDA was up 38 percent quarter-on-quarter and in-line, while other income drove a 4 percent miss in PAT.

IGL | Jefferies has maintained a 'buy' rating on IGL with a target of Rs 565 per share. It says the EBITDA was ahead, and led by better margin, while the volume fell quarter-on-quarter.

Reliance Industries | JPMorgan has maintained a 'buy'rating on Reliance Industries with a target of Rs 3,040 per share. It says it believes the stock offers multiple potential catalysts over the next 18 months.

Reliance Industries | Macquarie has maintained an 'underperform' rating on Reliance Industries with a target of Rs 2,100 per share. It says its FY25 EPS estimate remains 14-18 percent below consensus.

Reliance Industries | Citi has maintained a 'buy'rating on Reliance Industries with a target of Rs 2,750 per share. It says the first quarter's consolidated EBITDA was down 1 percent quarter-on-quarter, broadly in-line.

Reliance Industries | Jefferies has maintained a 'buy' rating on Reliance Industries with a target of Rs 2,935 per share. It says the EBITDA came in-line with estimates with all segments in line.

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