UBS Maintains 'Neutral' on SBI with Rs 840 Target

UBS has assigned a 'neutral' rating to State Bank of India (SBI), setting a target price at Rs 840. Analysts highlight the bank's reduced loan growth guidance and anticipate near-term pressure on net interest margins. Despite these challenges, UBS has largely kept its EPS estimates for FY26 and FY27 unchanged.

CLSA Downgrades Kotak Mahindra Bank to 'Hold'

CLSA has revised its rating on Kotak Mahindra Bank from 'outperform' to 'hold', while increasing the target price to Rs 2,225 from Rs 2,125. The bank's Jan-March quarter performance was mixed, missing CLSA's pre-provision operating profit estimates due to lower net interest income and higher operational expenses.

Jefferies Holds 'Hold' on Avenue Supermart (D-Mart)

Jefferies continues its 'hold' stance on Avenue Supermart (D-Mart), adjusting the target price down to Rs 4,100 from Rs 4,225. The margin decline was a significant negative surprise, attributed by management to intense competition.

Prabhudas Lilladher Advises 'Reduce' on Indian Oil Corp

Prabhudas Lilladher recommends a 'reduce' rating for Indian Oil Corp, with a target price of Rs 122. Despite strong gross refining margins in the Jan-March quarter, weak Singapore GRM averages and anticipated inventory losses due to declining Brent prices pose challenges.

InCred Equities Stays Cautious on JSW Steel

InCred Equities maintains a 'reduce' rating on JSW Steel, with a target price of Rs 766. The Supreme Court's decision to liquidate Bhushan Power & Steel introduces uncertainty, casting doubt on JSW Steel's optimistic FY26-27 earnings projections.

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