SELL COPPER MAY AT 853.50-854.50 SL ABOVE 860 TARGET 843-840

Brokerage Update: -


MOSL on RBL Bank Upgrade from Neutral to Buy with a target price of Rs 220


JMFL on DCB Bank Upgrade the stock to BUY, with a revised target price of Rs 150 (from
Rs 125 earlier)


DAM Capital on Maruti downgrade the stock to neutral, with a revised target price of Rs 11,800 (earlier Rs13,500)


MS on Apollo Tyres Maintain Equal-weight with target price of Rs 503


Investec on M&M Maintain Buy with target price of Rs 3370


CLSA on RIL O-P, target price Rs 1650


Nomura on RIL Buy, target price Raised to Rs 1650


JPM on RIL OW, target price Rs 1530


MS on RIL OW, target price Rs 1606


Macquarie on RIL O-P, target price Rs 1500


Jefferies on Reliance Industries buy call Target price at Rs 1,660


Nuvama on RIL Buy, target price Rs 1708


MOSL on RIL reiterate buy with a revised target price of Rs 1515


CLSA on IGL O-P, target price Rs 220


MS on IDFC First Bank EW, target price Rs 65


MS on M&M OW, target price Rs 3675


JPM on IDFC First Bank UW, target price Rs 50


GS on Maruti Neutral, target price Rs 12000


BoFA Sec on Maruti Buy, target price Rs 14000


HSBC on Shriram Fin Buy, target price cut to Rs 740


CLSA on Shriram Fin O-P, target price cut to Rs 670


Kotak Inst Eqt on Shriram Fin Buy, target price Rs 750


JPM on Tata Tech UW, target price Rs 630


GS on Tata Tech Sell, target price Rs 550


MOSL on IDFC First bank reiterate neutral with target price of Rs 72


Investec on IDFC First Bank: Maintain Hold with target price of Rs 65 vs Rs 70


IIFL on RBL Bank Maintain Add with target price Rs 210 vs Rs 155


Investec on RBL Bank Upgrade to Buy from Hold with target price of Rs 230 vs 170


Nuvama on Maruti: Buy, target price cut to Rs 13400 vs 13900


Nuvama on Hind Zinc: Reduce, target price cut to Rs 403 vs Rs 411


Nuvama on Zensar Tech: Maintain Hold, target price raised to Rs 700 cr vs Rs 680


Nuvama on Shriram Finance: Maintain Buy, target price raised to Rs 760 vs Rs 720


Nuvama on Chola Investment: Retain ‘Hold’ with an unchanged target price of Rs 1,600

BULK DEAL IN BAJAJFINSVC OF 41.86 LK @ 2050 IN NSE
CMP 2055 +0.5%

Intraday Derivatives Call Buy BANKNIFTY 29MAY 55000 PE above 870 with SL 750 Target 1100 (ANALYST NIRAV) Visit our website for disclosure (Nirmal Bang)

28-04-2025
ADANIGREEN
LASTYR 150 CR
LASTQTR 492 CR
MKTEXP NO EXP

ATGL
LASTYR 168 CR
LASTQTR 142 CR
MKTEXP NO EXP

IRFC
LASTYR 1717 CR
LASTQTR 1631 CR
MKTEXP NO EXP

KPITTECH
LASTYR 155 CR CC 4.3%
LASTQTR 204 CR CC 4.7%
MKTEXP 193 CR CC 2% RESULT OK

OBEROIREALTY
LASTYR 788 CR
LASTQTR 618 CR
MKTEXP 535 CR RESULT OK

PNBHSG
LASTYR 443 CR
LASTQTR 483 CR
MKTEXP NO EXP

TVSMOTOR
LASTYR 485 CR
LASTQTR 618 CR
MKTEXP 733 CR RESULT IMPROVED

ULTRACEM
LASTYR EBIDTA 4114 CR
LASTQTR EBIDTA 2887 CR
MKTEXP EBIDTA 4733 CR RESULT IMPROVED

29-04-2025
AMBUJACEM
LASTYR EBIDTA 1699 CR
LASTQTR EBIDTA 1712 CR
MKTEXP EBIDTA 1828 CR RESULT IMPROVED

BAJAJFINANCE
LASTYR 3825 CR
LASTQTR 4308 CR
MKTEXP 4572 CR RESULT IMPROVED

BAJAJFINSVC
LASTYR 3824 CR
LASTQTR 4308 CR
MKTEXP NO EXP RESULT DEPEND ON BAJAJFINANCE

BPCL
LASTYR 6022 CR
LASTQTR 4649 CR
MKTEXP 2768 CR RESULT DECLINING

JSFB
LASTYR 322 CR
LASTQTR 111 CR
MKTEXP NO EXP

TRENT
LASTYR EBIDTA 470 CR
LASTQTR EBIDTA 842 CR
MKTEXP EBIDTA 674 CR RESULT IMPROVED

VMM
LASTYR NO NUMBER
LASTQTR 505 CR
MKTEXP 293 CR RESULT OK

1-2 DAYS Technical call Buy HEG above 483.20 with SL 470 Target 510(ANALYST SWATI).   Visit our website for disclosure (Nirmal Bang).

BUY CRUDE OIL 5400 CE AT 212-206 SL BELOW 175 TARGET 270

BUY GOLD M 95000 PE AT 2350-2300 SL BELOW 2100 TARGET 2700

1-2 DAYS  Technical Call VMM BUY close at 108 Visit our website for disclosure (Nirmal Bang).

1-2 DAYS Technical call Buy ASTERDM above 515.40 with SL 500 Target 545(ANALYST SWATI).   Visit our website for disclosure (Nirmal Bang).

*Shree Digvijay Cement Company Ltd.* | *CMP* Rs. 77 | *M Cap* Rs. 1138 Cr | *52 W H/L* 119/61
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 216.4 Cr (15.9% QoQ, -3.5% YoY) vs QoQ Rs. 186.8 Cr, YoY Rs. 224.4 Cr
EBIDTA came at Rs. 27.7 Cr (-17964.5% QoQ, -42.3% YoY) vs QoQ Rs. -0.2 Cr, YoY Rs. 48 Cr
EBITDA Margin came at 12.8% vs QoQ -0.1%, YoY 21.4%
Adj. PAT came at Rs. 18.4 Cr vs QoQ Rs. -4.8 Cr, YoY Rs. 31.7 Cr
Quarter EPS is Rs. 1.2
Stock is trading at P/E of 45.2x TTM EPS

*IDBI Bank Ltd. * | *CMP* Rs. 82 | *M Cap* Rs. 88438 Cr | *52 W H/L* 108/66
(Nirmal Bang Retail Research)
*Result ok*
Advances came at Rs. 218399 Cr (16% YoY, 5.6% QoQ)
Net Interest Income came at Rs. 3290 Cr vs YoY Rs. 3688 Cr, (-10.8% YoY ) QoQ Rs. 4228 Cr
Last qtr inclide one one off in NII
NIM came at 4% vs QoQ 5.17%
Non Interest Income came at Rs. 2057 Cr vs YoY Rs. 896 Cr, QoQ Rs. 749 Cr
PBP came at Rs. 3195 Cr vs YoY Rs. 2175 Cr,(46.9% YoY),QoQ Rs. 2802 Cr
Provisions came at Rs. 233 Cr vs YoY Rs. 114 Cr, QoQ Rs. 166 Cr
Adj. PAT came at Rs. 2051 Cr vs YoY Rs. 1628 Cr (26% YoY), QoQ Rs. 1908 Cr
Gross NPA came at Rs. 6695 Cr vs QoQ Rs. 7635 Cr at 2.98% vs QoQ 3.57%
Net NPA came at Rs. 337 Cr vs QoQ Rs. 365 Cr at 0.15% vs QoQ 0.18%
ROA came at 2.11% vs QoQ 2% & YoY 1.8%
Quarter EPS is Rs. 2
Stock is trading at 1.5x trailing P/Adj. BV

: DFS SECY ASSURES LIFE INSURANCE INDUSTRY OF ' NO ACTION' AGAINST BANCASSURANCE CHANNEL - CNBCTV18

ntraday Derivatives Call Exit BANKNIFTY 29MAY 55000 PE at 800 Visit our website for disclosure (Nirmal Bang) 

*TVS Motor Company Ltd.* | *CMP* Rs. 2801 | *M Cap* Rs. 133072 Cr | *52 W H/L* 2958/1873
(Nirmal Bang Retail Research)
No. of Vehicles Sold 1216286 vs QoQ 1211952,YoY 1062529
*Result is above expectations*
Revenue from Operations came at Rs. 9550.4 Cr (5% QoQ, 16.9% YoY) vs expectation of Rs. 9262.1 Cr, QoQ Rs. 9097.1 Cr, YoY Rs. 8168.8 Cr
EBIDTA came at Rs. 1332.6 Cr (23.2% QoQ, 43.9% YoY) vs expectation of Rs. 1190.6 Cr, QoQ Rs. 1081.5 Cr, YoY Rs. 926.2 Cr
EBITDA Margin came at 14% vs expectation of 12.9%, QoQ 11.9%, YoY 11.3%
Adj. PAT came at Rs. 852.1 Cr vs expectation of Rs. 732.8 Cr, QoQ Rs. 618.5 Cr, YoY Rs. 485.4 Cr
Quarter EPS is Rs. 17.9
Stock is trading at P/E of 40.9x FY26E EPS