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Global View: NYKAA, SBI Card, Tech Mahindra may bring profit of 16-40%

The Indian market managed to recover on Wednesday, surpassing the benchmark index by significant resistance levels. Nifty50 closed above 17,100 levels.

By sector, we saw purchases in metals, energy, banks and automobiles, but sales in healthcare, consumer durables and telecommunications.

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According to a Zee Business TV report, we have compiled a list of recommendations from various global brokerage firms.

NYKAA: Purchase

HSBC has launched FSN E-Commerce Venture (NYKAA) coverage with a purchase rating and target price of Rs 2,900, an increase of more than 16% from Rs 2,492 recorded on December 1.

The beauty and personal care e-commerce market is India’s next big growth story. “We expect a 10-year CAGR to exceed 30%,” the memo said.

HSBC expects India’s beauty and personal care market (BPC) to grow six-fold over the next 15 years.

This should be driven by e-commerce growth as online penetration is expected to rise from 8% to 35-40% over the next 10 years and drive a CAGR of over 30% in the BPC e-commerce market. ..

HSBC believes that Nykaa, a large and already profitable online business, will be able to dominate the market over the next decade.

SBI Card and Payment Services: Overweight

Morgan Stanley maintains the SBI Card’s overweight rating with a target price of Rs 1,350. This corresponds to an increase of more than 40% from the 958 rupees recorded on December 1.

In October 2021, industry credit spending surged 26% on a MoM basis. The MoM growth rate for cards is 1.5%, a bit lower than the industry’s 2.1%.

Tech Mahindra: Buy

Jeffreys maintained Tech Mahindra’s purchase rating at a target price of Rs 1950. This is more than 20% increase from the 1588 rupee recorded on December 1st.

Sustainability is becoming an important criterion for the victory of the New Deal policy. Clients are also involved with the company to achieve their ESG goals.

The memo states that working from home has significantly improved ESG metrics. The hybrid model seems to be a step forward for IT majors.

(Disclaimer: The views / suggestions / advice presented here in this article are by investment experts only. ZeeBusiness advises readers to consult an investment adviser before making financial decisions. It is recommended.)



Global View: NYKAA, SBI Card, Tech Mahindra may bring profit of 16-40%

Source link Global View: NYKAA, SBI Card, Tech Mahindra may bring profit of 16-40%

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