Investec maintained its ‘sell’ rating on Punjab National Bankwith the target price cut to Rs 85 from Rs 90 earlier. Analysts said the bank’s net interest margin was weak while the return on assets outlook was softening. It reported slower loans growth due to lower retail/corporate disbursements.Analysts expect profitability moderation this year.Morgan Stanley maintained its ‘underweight’ rating on Dabur with the target price at Rs 396. Analysts said Dabur’s EBITDA margin came in at a 10-year low and domestic revenue was weak, due to urban slowdown and inflation. The growth rate in the home & personal care and healthcare segments turned negative, while the beverages portfolio remained weak.Citi maintained its ‘buy’ rating on MGL with the target price raised to Rs 1,700 from Rs 1,670 earlier. Analysts said the company’s EBITDA beat was primarily attributable to one-time provision reversal while its adjusted EBITDA was in-line with estimates. Its volume growth was also in-line. The company has reiterated 10% volume growth guidance for FY26.CLSA maintained its ‘hold’ rating on Voltas with the target price at Rs 1,375. Analysts said the company’s earnings were below their estimates. It reported lower growth in cooling products and lower margins in Electromechanical Projects & Services (EMP) division. Analysts said a key monitorable is inventory levels given a cooler April and unseasonal rainfall. They said channel checks indicate weak industry volume growth for room air conditioners in April.ICICI Securities has put a ‘buy’ rating on APL Apollo Tubes with the target price at Rs 2,000. Analysts said the company has exceeded estimates by a good margin. During the Jan-March quarter its sales volume was the highest-ever. The company’s Raipur plant’s capacity utilisation was at 60%. It also has an excellent liquidity position. And the focus is to maintain controllable costs. Going ahead, management expects volume growth of 20% annually over the next two years.Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
