2 Stocks To Buy Post Quarterly Numbers As Recommended By Prabhudas Lilladher
Post its quarterly numbers, broking firm Prabhudas Lilladher has recommended buying the stocks of Dmart and HDFC Bank.
Here are some reasons the brokerage is upbeat on these stocks.
According to Prabhudas Lilladher, HDFC Bank saw a good quarter with core PAT of Rs 118bn beating PLe by 6 % led by stronger NII and other income ( excl. treasury) while provisions were lower.
The retail deposit accretion was strong at 5% QoQ and its share is now 84% ( 80% in Mar' 22).
Bank added 684 branches in Q 3 FY 23 while it intends to add 600 more branches in Q 4 FY 23 which would keep opex elevated.
"We upgrade FY 23 earnings by 3 % led by higher NII and lower provisions.
DMART target price revised to Rs 4675
D'Mart by 4.2/ 4 .3/ 4 .0% for FY 23/ 24/25 and target price to Rs4675 ( Rs 4854 earlier) following disappointing margin performance in 3 Q 23 ( 106 bps YoY EBIDTA margin decline to 8 .3%).
"Mix deterioration due to tepid growth in Apparel and general merchandise impacted margins.
Cost of retail also moved up by 50bps YoY as operating leverage failed to benefit in a festival quarter.
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By Sunil Fernandes Goodreturns source: goodreturns.in Dailyhunt