Brokers’picks: LIC Housing, Zydus Wellness
Nomura has revised downwards its FY14F loan growth and interest spread forecasts for LICHF.
By ET Bureau | Updated:
Nomura Retains ‘Buy’ on LIC Housing
TARGET: Rs 255
CURRENT PRICE: Rs 157
Nomura has revised downwards its FY14F loan growth and interest spread forecasts for LICHF. It aims for a FY14F loan growth of 17.2%, with growth primarily coming from the retail loan book.
Its margins are likely to contract through FY14F and build in a NIM contraction of 10bps vs the 2.2% seen in FY13.
Zydus Wellness Remains a ‘Buy’
TARGET: Rs 655
CURRENT PRICE: Rs 517
Phillip Capital has revised its estimates downwards primarily on revenues.
It expects muted operating performance in FY14E but remains confident of recovery to robust growth trends and better sustainability in operating performance in the long term.
TARGET: Rs 255
CURRENT PRICE: Rs 157
Nomura has revised downwards its FY14F loan growth and interest spread forecasts for LICHF. It aims for a FY14F loan growth of 17.2%, with growth primarily coming from the retail loan book.
Its margins are likely to contract through FY14F and build in a NIM contraction of 10bps vs the 2.2% seen in FY13.
Zydus Wellness Remains a ‘Buy’
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TARGET: Rs 655
CURRENT PRICE: Rs 517
Phillip Capital has revised its estimates downwards primarily on revenues.
It expects muted operating performance in FY14E but remains confident of recovery to robust growth trends and better sustainability in operating performance in the long term.
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