On the first trading day of the week i.e. Monday, the Indian Share Market once again opened with weakness.
While the Nifty index opened with a slight decline of 29 points at the level of 24823, on the other hand, the Sensex index fell by 210 points to open at the level of 80974.
On Monday’s trading day, buying has been seen in shares like Shriram Finance, Hindustan Unilever, HDFC Life, and SBI Life, while on the other hand, shares like ONGC, Hindalco, Tata Steel, and Coal India have seen a decline.
If you are going to invest in 3 shares ie. Tata Tech, Zomato, and Shriram Finance in the coming trading days, then you must know the latest ratings given by brokerage firms and investment banks for all these shares.
Table of Contents
Tata Tech Share
A brokerage has given a target price of Rs 1945 while continuing the sell rating on the share of Tata Group company Tata Technologies Ltd. Keep in mind that this target price used to be Rs 1935 earlier.
The brokerage says that given the resilience of tech spending in the automotive vertical, there are strong possibilities for growth here in the coming times.
Target Of Rs 335 On Zomato Share
The brokerage firm has set a target price of Rs 335 on the shares of online food delivery platform company Zomato Ltd.
The brokerage believes that Zomato Ltd company is taking many important steps in its food delivery business which will strengthen the company’s franchise.
The brokerage is expecting that the delivery revenue can grow at 20 percent CAGR in the financial year 2024 to 27.
Shriram Finance Share
The brokerage has given a buy rating on the shares of NBFC sector company Shriram Finance Ltd and has also increased its target price on this share from Rs 2915 to Rs 3850.
The brokerage has increased the P/BV target multiple of Shriram Finance Ltd share from 1.8x to 2.2x respectively, keeping in mind the visibility of higher growth.
The asset quality of Shriram Finance Ltd Company is expected to remain stable going forward and credit card cost may continue as per guidance.
Quick Fact
| Company name | Tata Tech |
|---|---|
| Possible Target Price | ₹1945 |
| Previous Target Price | ₹1935 |
| Reason for Target Price | Strong possibilities of growth in tech spending, especially in automotive |
Zomato
| Company name | Zomato |
|---|---|
| Possible Target Price | ₹335 |
| Reason for Target Price | Strengthening food delivery franchise |
| Expected Revenue Growth | 20% CAGR from 2024 to 2027 |
Shriram Finance
| Company name | Shriram Finance |
|---|---|
| Possible Target Price | ₹3850 |
| Previous Target Price | ₹2915 |
| Target Multiple Increase | P/BV from 1.8x to 2.2x |
| Reason for Target Price | Higher growth visibility |
| Asset Quality Outlook | Expected to remain stable |
| Credit Cost Outlook | Expected to continue as per guidance |
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