JP Morgan Downgrades Bajaj Finance

JP Morgan has downgraded Bajaj Finance to neutral from overweight, setting a target price of Rs 970. Despite being a leader in quality among peers with a rare mix of high growth and quality, concerns over mortgage attrition and MSME weaknesses suggest potential negative revisions.

Morgan Stanley Bullish on SBI Life Insurance

Morgan Stanley maintains its overweight rating on SBI Life Insurance, with a target price of Rs 2,115. The company's strong April-June quarterly performance cements its status as a preferred large-cap stock with an attractive risk-reward profile.

Macquarie Cautious on Nestle

Macquarie holds a neutral stance on Nestle, reducing the target price to Rs 2,250 from Rs 2,375. Missed April-June estimates and near-term growth challenges, including unmet gross margin targets and higher expenses, have tempered expectations.

Investec Upgrades Torrent Pharma

Investec has upgraded Torrent Pharma to buy from sell, raising the target price to Rs 4,100 from Rs 2,930. The acquisition of JB Chemicals & Pharmaceuticals is seen as a strategic move to bolster its presence in chronic, probiotics, and GI segments in India.

Axis Capital Advises Caution on Canara Bank

Axis Capital recommends a reduce rating on Canara Bank, with a target price of Rs 110. Pressure on net interest margins (NIM) and a dip in the CASA ratio highlight ongoing challenges, despite stable fee income and retail-driven loan growth.

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