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Economic Times
12-06-2025
- Business
- Economic Times
JM Financial maintains Buy on Bharti Airtel; target price Rs 2050
JM Financial maintains buy call on Bharti Airtel with a revised target price of Rs 2,050 (earlier Rs 2,035). The current market price of Bharti Airtel is Rs 1858.15. The time period given by the analyst is a year when Bharti Airtel price can reach the defined target. Bharti Airtel, incorporated in 1995, is a Large Cap company with a market cap of Rs 1089563.29 crore, operating in the Telecommunications sector. ADVERTISEMENT Bharti Airtel's key products/revenue segments include Service Revenue and Sale of Products for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 48362.00 crore, up 6.06% from last quarter Total Income of Rs 45599.00 crore and up 27.55 % from last year same quarter Total Income of Rs 37916.00 crore. The company has reported net profit after tax of Rs 12418.10 crore in the latest quarter. The company's top management includes Bharti Mittal, Vittal, Sock Koong, Yih Arthur Lang, Bharti Mittal, Godrej, Narasimhan, Mukherjee, Justice(Retd)Arjan Kumar Sikri, Bharti Mittal, Anderson Baillie, Vittal, Sock Koong, Yih Arthur Lang, Bharti Mittal, Godrej, Narasimhan, Mukherjee, Justice(Retd)Arjan Kumar Sikri, Anderson Baillie. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 609 crore shares outstanding. Promoter/FII Holdings Promoters held 52.42 per cent stake in the company as of 31-Mar-2025, while FIIs owned 25.41 per cent, DIIs 19.17 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
11-06-2025
- Business
- Time of India
Buy Mahanagar Gas, target price Rs 1,705: ICICI Securities
Agencies Mahanagar Gas' key products/revenue segments include Gas Natural, Other Operating Revenue and Pipes & Fittings for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2006.40 crore, up 6.19 % from last quarter Total Income of Rs 1889.40 crore and up 21.11 % from last year same quarter Total Income of Rs 1656.74 crore. The company has reported net profit after tax of Rs 247.87 crore in the latest quarter. The company's top management includes Kumar Gupta, Shinghal, Shende, Bhaskar Sahi, Sinha, S Hussain, Srinivasan, Kamble. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 10 crore shares outstanding. Live Events Investment Rationale ICICI Securities remains optimistic on MGL?s prospects over the next five years, with clear long-term visibility on volumes, still peer-leading margins, RoE/RoCE of >15%, dividend yield of 3% and very attractive valuation of ~11.4x FY27E PER and EV/EBITDA of 6.0x. Our target price of Rs 1,705 (unchanged) implies a material 28% upside from CMP. The brokerage notes current multiple of 11.4x on FY27E is still well below ~17.6x FY27E PER for Promoter/FII Holdings Promoters held 32.5 per cent stake in the company as of 31-Mar-2025, while FIIs owned 23.76 per cent, DIIs 23.82 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has a buy call on Mahanagar Gas with a target price of Rs 1,705. The current market price of Mahanagar Gas is Rs 1407.8. Mahanagar Gas, incorporated in 1995, is a Mid Cap company with a market cap of Rs 12947.30 crore, operating in Gas & Petroleum Gas' key products/revenue segments include Gas Natural, Other Operating Revenue and Pipes & Fittings for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2006.40 crore, up 6.19 % from last quarter Total Income of Rs 1889.40 crore and up 21.11 % from last year same quarter Total Income of Rs 1656.74 crore. The company has reported net profit after tax of Rs 247.87 crore in the latest company's top management includes Kumar Gupta, Shinghal, Shende, Bhaskar Sahi, Sinha, S Hussain, Srinivasan, Kamble. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 10 crore shares Securities remains optimistic on MGL?s prospects over the next five years, with clear long-term visibility on volumes, still peer-leading margins, RoE/RoCE of >15%, dividend yield of 3% and very attractive valuation of ~11.4x FY27E PER and EV/EBITDA of 6.0x. Our target price of Rs 1,705 (unchanged) implies a material 28% upside from CMP. The brokerage notes current multiple of 11.4x on FY27E is still well below ~17.6x FY27E PER for IGL , which we believe should narrow, given the parity in earnings performance that we estimate for FY26?28E. Even at our target price, PER for FY27E rises to ~14.6x, at a substantial discount to peers, which leaves sufficient buffer for negative surprises. Downside risks: 1) Higher-than-expected spike in gas cost. 2) Inability to pass on gas cost increases. 3) Sharper fall in alternate fuel prices for CNG (petrol/diesel). Upside risks: 1) Softer LNG prices. 2) Faster execution of new area development and delta from Unison. 3) Aggressive regulatory support in MMR regionPromoters held 32.5 per cent stake in the company as of 31-Mar-2025, while FIIs owned 23.76 per cent, DIIs 23.82 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Economic Times
10-06-2025
- Business
- Economic Times
Buy Suzlon Energy, target price Rs 81: JM Financial
Suzlon Energy's key products/revenue segments include Wind Turbine Generator, Property Development, Other Operating Revenue, Scrap, Sale of services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3825.19 crore, up 27.41% from last quarter Total Income of Rs 3002.36 crore and up 73.29 % from last year same quarter Total Income of Rs 2207.43 crore. The company has reported net profit after tax of Rs 1180.98 crore in the latest quarter. The company?s top management includes R Tanti, R Tanti, Shah, Khot, Tanti, Doshi, Hornung Pedersen. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 1,365 crore shares outstanding. Live Events Investment Rationale India's wind energy momentum, which was once perceived as constrained, is now on an accelerated path driven by the demand for hybrid renewable projects, ensuing control on imports from China, and improved visibility on execution. Considering deliveries of 2500 MW/3100 MW in FY26/FY27, JM Financial arrives at an EPS of Rs 1.58/ Rs 2.32 during FY26/FY27 and, maintains a BUY rating on the stock with a revised target price of Rs 81 based on a 35xFY27 EPS. Promoter/FII Holdings Promoters held 13.25 per cent stake in the company as of 31-Mar-2025, while FIIs owned 23.04 per cent, DIIs 6.99 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel JM Financial maintains buy call on Suzlon Energy with a revised target price of Rs 81 (earlier Rs 71). The current market price of Suzlon is Rs 67.33. The time period given by the analyst is a year when Suzlon Energy price can reach defined target. Suzlon Energy, incorporated in 1995, is a Small Cap company with a market cap of Rs 91329.42 crore, operating in the Power Energy's key products/revenue segments include Wind Turbine Generator, Property Development, Other Operating Revenue, Scrap, Sale of services for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3825.19 crore, up 27.41% from last quarter Total Income of Rs 3002.36 crore and up 73.29 % from last year same quarter Total Income of Rs 2207.43 crore. The company has reported net profit after tax of Rs 1180.98 crore in the latest company?s top management includes R Tanti, R Tanti, Shah, Khot, Tanti, Doshi, Hornung Pedersen. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 1,365 crore shares wind energy momentum, which was once perceived as constrained, is now on an accelerated path driven by the demand for hybrid renewable projects, ensuing control on imports from China, and improved visibility on execution. Considering deliveries of 2500 MW/3100 MW in FY26/FY27, JM Financial arrives at an EPS of Rs 1.58/ Rs 2.32 during FY26/FY27 and, maintains a BUY rating on the stock with a revised target price of Rs 81 based on a 35xFY27 held 13.25 per cent stake in the company as of 31-Mar-2025, while FIIs owned 23.04 per cent, DIIs 6.99 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Time of India
10-06-2025
- Business
- Time of India
Buy Suzlon Energy, target price Rs 81: JM Financial
Suzlon Energy's key products/revenue segments include Wind Turbine Generator, Property Development, Other Operating Revenue, Scrap, Sale of services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3825.19 crore, up 27.41% from last quarter Total Income of Rs 3002.36 crore and up 73.29 % from last year same quarter Total Income of Rs 2207.43 crore. The company has reported net profit after tax of Rs 1180.98 crore in the latest quarter. The company?s top management includes R Tanti, R Tanti, Shah, Khot, Tanti, Doshi, Hornung Pedersen. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 1,365 crore shares outstanding. Live Events Investment Rationale India's wind energy momentum, which was once perceived as constrained, is now on an accelerated path driven by the demand for hybrid renewable projects, ensuing control on imports from China, and improved visibility on execution. Considering deliveries of 2500 MW/3100 MW in FY26/FY27, JM Financial arrives at an EPS of Rs 1.58/ Rs 2.32 during FY26/FY27 and, maintains a BUY rating on the stock with a revised target price of Rs 81 based on a 35xFY27 EPS. Promoter/FII Holdings Promoters held 13.25 per cent stake in the company as of 31-Mar-2025, while FIIs owned 23.04 per cent, DIIs 6.99 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel JM Financial maintains buy call on Suzlon Energy with a revised target price of Rs 81 (earlier Rs 71). The current market price of Suzlon is Rs 67.33. The time period given by the analyst is a year when Suzlon Energy price can reach defined target. Suzlon Energy, incorporated in 1995, is a Small Cap company with a market cap of Rs 91329.42 crore, operating in the Power Energy's key products/revenue segments include Wind Turbine Generator, Property Development, Other Operating Revenue, Scrap, Sale of services for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3825.19 crore, up 27.41% from last quarter Total Income of Rs 3002.36 crore and up 73.29 % from last year same quarter Total Income of Rs 2207.43 crore. The company has reported net profit after tax of Rs 1180.98 crore in the latest company?s top management includes R Tanti, R Tanti, Shah, Khot, Tanti, Doshi, Hornung Pedersen. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 1,365 crore shares wind energy momentum, which was once perceived as constrained, is now on an accelerated path driven by the demand for hybrid renewable projects, ensuing control on imports from China, and improved visibility on execution. Considering deliveries of 2500 MW/3100 MW in FY26/FY27, JM Financial arrives at an EPS of Rs 1.58/ Rs 2.32 during FY26/FY27 and, maintains a BUY rating on the stock with a revised target price of Rs 81 based on a 35xFY27 held 13.25 per cent stake in the company as of 31-Mar-2025, while FIIs owned 23.04 per cent, DIIs 6.99 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Economic Times
06-06-2025
- Business
- Economic Times
Buy Lemon Tree Hotels, target price Rs 174: ICICI Securities
Lemon Tree Hotels' key products/revenue segments include Income from Rooms, Restaurants & Other Services and Other Operating Revenue for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 379.40 crore, up 6.63% from last quarter Total Income of Rs 355.80 crore and up 13.65 % from last year same quarter Total Income of Rs 333.84 crore. The company has reported net profit after tax of Rs 108.77 crore in the latest quarter. The company?s top management includes Govind Keswani, Malhan, Albertus Hazeleger, Madhav Keswani, Jamshed Desai, Saikia, Anand, Garg, Nandan Sahai. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 79 crore shares outstanding. Live Events Investment Rationale Lemon Tree Hotels reported Q4FY25 consolidated revenue of Rs 3.8 billion (up 15% YoY) in-line with I-Sec estimates as portfolio ARRs (including Mumbai Aurika) grew 7% YoY, while occupancy for the quarter stood at 77.6%, which increased 557bps YoY. This translated into a RevPAR of Rs 5,462, rising 15% YoY. Hence, Q4FY25 EBITDA of Rs 2 billion was up 19% YoY at a margin of 54%, which was up 154bps YoY. ICICI Securities expects the company's net debt to reduce to ~Rs 11 billion by Mar'27E (Rs 17 billion, as of Mar'25) driven by scale-up in Aurika Mumbai ARRs to over Rs 12,000. The brokerage retains the BUY rating with an SoTP-based target price of Rs 174, based on 22x Mar?27E EV/EBITDA. Key risks are demand slowdown in occupancies and room rates. Promoter/FII Holdings Promoters held 22.49 per cent stake in the company as of 31-Mar-2025, while FIIs owned 20.89 per cent, DIIs 19.66 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has a buy call on Lemon Tree Hotels with a target price of Rs 174. The current market price of Lemon Tree Hotels is Rs 141.3. Lemon Tree Hotels. incorporated in 1992, is a Mid Cap company with a market cap of Rs 11188.90 crore, operating in the Tourism & Hospitality Tree Hotels' key products/revenue segments include Income from Rooms, Restaurants & Other Services and Other Operating Revenue for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 379.40 crore, up 6.63% from last quarter Total Income of Rs 355.80 crore and up 13.65 % from last year same quarter Total Income of Rs 333.84 crore. The company has reported net profit after tax of Rs 108.77 crore in the latest company?s top management includes Govind Keswani, Malhan, Albertus Hazeleger, Madhav Keswani, Jamshed Desai, Saikia, Anand, Garg, Nandan Sahai. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 79 crore shares Tree Hotels reported Q4FY25 consolidated revenue of Rs 3.8 billion (up 15% YoY) in-line with I-Sec estimates as portfolio ARRs (including Mumbai Aurika) grew 7% YoY, while occupancy for the quarter stood at 77.6%, which increased 557bps YoY. This translated into a RevPAR of Rs 5,462, rising 15% YoY. Hence, Q4FY25 EBITDA of Rs 2 billion was up 19% YoY at a margin of 54%, which was up 154bps YoY. ICICI Securities expects the company's net debt to reduce to ~Rs 11 billion by Mar'27E (Rs 17 billion, as of Mar'25) driven by scale-up in Aurika Mumbai ARRs to over Rs 12,000. The brokerage retains the BUY rating with an SoTP-based target price of Rs 174, based on 22x Mar?27E EV/EBITDA. Key risks are demand slowdown in occupancies and room held 22.49 per cent stake in the company as of 31-Mar-2025, while FIIs owned 20.89 per cent, DIIs 19.66 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
