Global View: IndusInd Bank, Zomato and Infosys could give 30-50% return in next 12 months

Indian market edged higher by more than 1% on Wednesday amid positive global cues

Morgan Stanley maintained an overweight rating on IndusInd Bank with a target of Rs 1350 that translates into an upside of over 50 per cent from Rs 897 recorded on 15 March. Source: Pixabay

Indian market edged higher by more than 1% on Wednesday amid positive global cues, but there will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.

We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:

IndusInd Bank: Overweight| Target Rs 1350

TRENDING NOW

See Zee Business Live TV Streaming Below:

Morgan Stanley maintained an overweight rating on IndusInd Bank with a target of Rs 1350 that translates into an upside of over 50 per cent from Rs 897 recorded on 15 March.

The management remains watchful of higher commodity prices. The global investment bank is optimistic for now on growth acceleration which is a positive sign. The asset quality expects credit costs to normalize in FY23.

Zomato: Buy| Target Rs 115

Bofa Securities maintained a buy rating on Zomato with a target price of Rs 115 that translates into an upside of nearly 50 per cent from Rs 77 recorded on 15 March.

The announces of additional investments. Blinkit news flow raises near-term overhang. If true, the global investment bank considers this a negative -

1)Would immediately lead to increased losses
2)Raises risk of cash call
3)At odds with earlier roadmap to focus on 1 core for next few years

Infosys: Buy| Target Rs 2440

Nomura maintained a buy rating on Infosys with a target of Rs 2440 that translates into an upside of over 30 per cent from Rs 1838 recorded on 15 March.

The growth outlook remains strong. Margin — headwinds, and tailwinds exist going into FY23, said the note.

The 4QFY22 outlook highlighted that the growth is likely to soften sequentially, and higher visa cost is likely to weigh on margins.

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

TAGS: