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Analyst Calls: Delta Corp, Mindtree, Wipro, Bandhan Bank, Infosys

Good morning!

The domestic stock market on Thursday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 13 points lower this morning, signalling a tepid start for Dalal Street.

As you head for the day’s trade, here is a compilation of overnight analyst calls on various stocks.

• India Nivesh has maintained its buy rating on
Delta Corp with a target price of Rs 268. The brokerage said Delta Corp’s revenues remained flat in the third quarter on account of degrowth in the hospitality segment. Further the increased supply due to increased competition is impacting the visitors to Delta’s Deltin Casinos. Shares of Delta Corp closed at Rs 198, down 0.8 per cent.

• Centrum Securities has maintained its ad rating on
Mindtree stock with the target price of Rs 890. The brokerage said although third quarter results of Mindtree beat profit after tax estimates of the analysts,the revenues reported by the software company was in line with the estimates. Further, the company currently does not have a strong execution track record in multi-service annuity deals. Shares of Mindtree closed at Rs 884, up 2.4 per cent.

• HSBC securities maintained its buy rating on
Wipro with target price of Rs 270. The brokerage said with Rishad Premji taking over as the executive chairman of the firm, coordination across teams should improve, which should help growth. The brokerage assigned 10 per cent discount in the price to earnings(P/E multiples) of Wipro compared to its peers on account of lower growth expectations. Shares of Wipro closed at Rs 248, down 3.5 per cent.

• Nomura has maintained its Neutral rating on
Bandhan Bank with a target price of Rs 585. The brokerge has slashed its target price from Rs 625 on the back of weaker than expected third quarter results. The brokerage further said Bandhan Bank’s asset quality was stable, while growth was marginally lower due to weak growth in Gruh’s book. Shares of Bandhan Bank closed at Rs 491, down 5.2 per cent.

• Motilal Oswal securities has maintained its buy rating on
IndusInd Bank with the target price of Rs 1,720. The brokerage expects IndusInd’s loan book growth to remain modest due to ongoing slowdown in CV business. It added that upcoming management succession is a crucial event but it is unlikely to be disruptive. Shares of Indusind bank closed at Rs 1,399 down 5.6 per cent.

• Axis Securities has maintained its buy rating on
Infosys with a target price of Rs 860. The brokerage said during third quarter the company won seven deals in the financial services, two deals each in communication and manufacturing, one each in retail, energy and utilities. Further, Infosys continued with the strong hiring in third quarter by adding 6,938 new employees. Shares of Infosys closed at Rs 766, down 1.2 per cent.

Source: Economic Times