Analyst Calls: Whirlpool, Bharti Infratel, IEX

Good morning!

The domestic stock market on Tuesday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 13.75 points lower this morning, signalling a weak start for Dalal Street.

Kotak Institutional Equities has maintained sell rating on Whirlpool of India and raised target price to Rs 1,540 from Rs 1,260. Closure of retail outlets on account of the lockdown will negatively impact revenues in FY21, said KIE. Discretionary nature of the products basket and premium positioning may keep momentum weak in FY22 too, KIE said. The stock ended up 3.13 per cent at Rs 1,900.15 on Monday.


Citigroup has maintained neutral rating on Bharti Infratel and cut target price to Rs 165 from Rs 260. Attractive dividend yield and a healthy balance sheet provide support, though near-term uncertainties persist pertaining to further potential exits by Vodafone Idea, said Citi. The stock ended up 3.35 per cent at Rs 157.20 on Monday.


Elara Capital has initiated coverage on Indian Energy Exchange with a buy rating and target price of Rs 191. The company is a long-term play on increasing penetration of short-term power market in India, well positioned and has domain expertise in operating in a niche electricity trading market, with a high ROE and strong balance sheet, said Elara. The stock ended down 0.67 per cent at Rs 155.35 on Monday.