Brokerage Radar
Emkay on Jindal Stainless
Maintained ‘Hold’; raised price target to Rs 79 from Rs 78.
Co reported in line set of earnings.
Higher than expected raw material cost offset better than expected topline.
At 3.7x Sep-21E EV/Ebitda, stock seems fairly valued.
Citi on Biocon
Maintained ‘Buy’; raised price target to Rs 360 from Rs 350
Revise our EPS estimated for the current and the next financial year at 9.6 percent and 3.8 percent respectively.
An interesting play on the global biosimilars opportunity.
Expect EM sales to lead growth for biopharma business.