The stock market of the country is expected to open higher on April 27, 2020 (Monday). Eyes would be on Indian multinational information technology firm Mindtree and air conditioning company Voltas Limited.
Australian multinational financial services firm Macquarie Group lowered its target on Mindtree stock to Rs 670 per share from Rs 734. It added that the IT firm’s Quarter 4 was weaker than expectations despite COVID-19 having no effect on its revenue.
Another brokerage Kotak set the target on Mindtree stock at Rs 760 per share. They expect earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 15.61 per cent in the financial year 2021.
Jefferies has maintained ‘buy’ call on Voltas Limited and kept the target at Rs 615 per share. The brokerage said the 550 districts, which are outside the red zone in India, can see the opening of standalone electronic stores. Once the stores are opened, concerns with respect to pricing distribution would not be major.
Kotak has maintained a ‘sell’ call on Whirlpool, increasing the target to Rs 1,540 per share from the earlier target of Rs 1,260. It noted that the closure of outlets due to the coronavirus lockdown have negatively impacted the revenue in FY 2021.
Credit Suisse has maintained a ‘buy’ call on Indigo with the target at Rs 1,500, cutting it from the previous target of Rs 1,850 per share. The brokerage also called ‘outperform’ on ICICI Prudential with target at Rs 440 per share.
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