Emkay Global Financial is bullish on Piramal Enterprises has recommended buy rating on the stock with a target price of Rs 1180 in its research report dated November 10, 2023.

Analysts at Jefferies have an underperform call on Piramal Enterprises and have cut the target price to Rs 855 per share due to reported PBT below estimates.

Morgan Stanley maintained an overweight rating on Vedant Fashion at a target price of Rs 1418. The global investment bank believes that the share price will rise relative to the country index over the next 60 days.

Piramal Enterprises Ltd. key Products/Revenue Segments include Other Operating Revenue, Interest, Dividend, Income From Financial Services for the year ending 31-Mar-2023.

The Piramal Group has sold its bad loans worth ₹531 crore to Omkara Asset Reconstruction Co., including properties like a JW Marriott hotel and a Crowne Plaza unit. The deal was done at a premium, resulting in a profit of over ₹700 crore for Piramal. The loans were initially sold to Omkara ARC in a structured deal, with 15% paid in cash and the rest issued as security receipts.

The secured NCDs have a face value of ₹1,000 and investors can apply for a minimum of 10 NCDs. The issue has a base size of ₹200 crore, with a green shoe option up to ₹800 crore, aggregating up to ₹1,000 crore and are rated 'AA' by ICRA and Care.

According to Jairam Sridharan, MD, Piramal Capital & Housing Finance Ltd, 60 per cent of issue is reserved for high net-worth individuals and retail investors.

Rupak De, Senior Technical analyst at LKP Securities, said, "The bulls were able to protect the level of 19,600 during the day, thanks to the strong open interest (OI) build-up at the 19,600 strike price by put writers. The strength may continue as long as the index remains above 19,600. Only a decisive fall below 19,600 might trigger serious long unwinding in the market, till then a buy-on-dips strategy to favor the market. On the higher end, resistance is visible at 19,850; above this, the index might move towards 20,000."

Non-banking finance companies (NBFCs) in India are expected to report a 20-30% growth in net profit for the second quarter, driven by strong loan disbursements. However, margins may be under pressure due to a rise in the cost of funds. Analysts expect consumer-facing sectors like microfinance, consumer durable and vehicle loans to lead growth, while affordable housing and gold-loan companies may lag behind.