Business News Desk – Today, October 11, at least 3 stocks are on the radar of brokerage firms. These include Bandhan Bank, Credit Access and Tata Consultancy Services (TCS). Due to brokerage report, these three stocks remained in focus during today’s trading. After the second quarter results, analysts are largely bullish on TCS shares. However, they fear a further decline in credit access. Let us know what target prices the analysts have given to these shares-
Jefferies opinion on Bandhan Bank
The brokerage has advised to buy shares of Bandhan Bank and has set a target price of Rs 240 per share. The brokerage said that the appointment of Parth Sengupta as MD and CEO of the bank is being considered positive. Parth Sengupta has also worked in West Bengal, which is an important market for the bank. The bank will get ₹320 crore under CGFMU claim, which includes recovery of ₹230 crore. This will increase profits. Apart from this, the valuation of the bank also looks attractive.
Nomura’s opinion on credit access
The brokerage has downgraded Credit Access shares to ‘Reduce’ from ‘Neutral’ and set its target price at Rs 950 per share. The brokerage said that due to assembly elections in Maharashtra, Bihar and Jharkhand in the coming months, the pace of its business may slow down. Along with this, there is a decline in disbursement and AUM growth. There are many challenges in the MFI sector and the increase in non-performing assets (NPAs) may have a negative impact on interest income.
Nomura’s opinion on TCS
The brokerage has given ‘neutral’ rating to TCS shares and set its target price at Rs 4,150 per share. The brokerage said TCS saw a marginal decline in revenue and a significant decline in margins during the September quarter. However, growth got a boost in the second quarter due to the BSNL deal.
Jefferies opinion on TCS
The foreign brokerage has recommended buying shares of TCS and has set a target price of Rs 4,735 per share. North America witnessed weak growth and margin decline during the September quarter, but BFSI is likely to recover, the brokerage said. Ramp down of BSNL deal may improve margins.
HSBC’s opinion on TCS
The brokerage has recommended buying shares of TCS and set a target price of Rs 4,540 per share. The brokerage says TCS’s Q2 results showed a slow recovery in demand, but the company is considered one of the best-managed companies in the sector.
Motilal Oswal’s opinion on TCS
Motilal Oswal has also recommended buying shares of TCS and has set a target price of Rs 5,400 per share. The brokerage said the BSNL deal as well as other large deals will support the company’s revenue growth in FY25.