L&T’s return on equity (RoEs) are back to pre-pandemic levels, it added. “Strategic Plan ‘Lakshya 2026’ is focusing on 18 per cent return on equity.”
The brokerage firm has also maintained a buy on PVR as it believes that the cinema chain had a strong quarter and the outlook remains good on the back of robust content pipeline. It has a target price of Rs 2,460 on the stock.
The company is reaping the benefits of re-opening the theme BofA Securities said. “Ad revenue and admissions recovery is on track,” it added.
PVR reported a consolidated net profit of Rs 53.38 crore for the June quarter. The leading multiplex chain operator had posted a net loss of Rs 219.44 crore in the April-June quarter a year ago.
However, BofA Securities has maintained an underperform rating on RBL, which returned to black in Q1. It has a target price of Rs 110 on the stock.
“The loan growth remained muted on contraction in the MFI book. Q1FY23 returns to ‘normal’ but pre-provision operating profit (PPOP) is a few quarters away,” said the brokerage.
reported a consolidated net profit of Rs 208.66 crore in the June quarter as against a loss of Rs 462.25 crore in the year-ago period. The private sector lender had reported a net profit of Rs 164.77 crore in the preceding March quarter.
Management’s outlook on the chemical segment remains upbeat. They are expecting a rise of 6 per cent in EBITDA per ton, according to the brokerage.
SRF reported a 75 per cent rise in the net profit to Rs 508.43 crore for the quarter ended June 30, 2022, which was Rs 291.57 crore in the same quarter previous year. The chemical firm’s consolidated revenue grew 44 per cent to Rs 3,895 crore in Q1FY23.
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