[ad_1]
This list included
, , and , among others.
Bharti Airtel narrowed its losses to Rs 23,328 crore in FY21 from Rs 32,955.30 crore in FY20, data compiled from corporate database AceEquity showed. Its shares have added Rs 56,691.89 crore in notional wealth since April 1, 2020.
Post Airtel’s March quarter earnings in May, Goldman Sachs said the market was under-appreciating a ‘market share re-allocation’ scenario and believes one of the two outcomes – tariffs moving up or market share re-allocation – is highly likely in the near term. CLSA has a target of Rs 730 on the stock while Citi sees it at Rs 685.
Tata Motors reported Rs 13,016.10 crore loss for FY21 but has created Rs 94,513 crore wealth for investors since April 2020. The yearly loss included Rs 7,605.40 crore surprise write-downs in March quarter. Analysts see some near-term pain, but expect a recovery in operational performance going ahead.
They believe robust free cash flow generation at the company could lead to a significant drop in debt levels. CLSA and Edelweiss see the stock at Rs 450 and Rs 432, respectively. Sharekhan has a target of Rs 430, and Elara Capital Rs 392.
InterGlobe Aviation reported Rs 5,806.43 crore loss for FY21 but added Rs 27,843 crore to investor wealth in the last 15 months. Geojit Financial Services said it is positive on the stock, given InterGlobe’s capacity expansion, penetration into tier II-III cities, focus on route optimisation and likely market share gains post Covid disruption. BoB Capital Markets has raised FY23 EPS estimates for InterGlobe and revised its target to Rs 2,000 from Rs 1,100 earlier.
Shares of debt-laden DHFL had almost doubled price from April 2020 level, despite reporting Rs 15,051 crore loss for FY21. The run halted as the stock exchanges suspended trading the stock from Monday, with the share value written off to zero.
BHEL ended up with Rs 2,743.84 crore in loss for FY21 against Rs 1,494.07 crore in FY20. Analysts see up to 50 per cent downside potential in the stock, Edelweiss has a target of Rs 29 on the stock. Kotak Institutional Equities finds it worthy of Rs 34. CLSA and Motilal Oswal Securities peg the stock value at Rs 40 each. Nirmal Bang has a target of Rs 48.
“In our view, market’s excitement about BHEL’s recent rally (that doubled stock price in six months) overlooked its conventional business i.e. sticky balance sheet & costs and underutilisation. With pending clarity on scalability and transition to new revenue streams, we retain ‘reduce’ rating on the stock with a revised price target of Rs 29,” Edelweiss said.
Out of 10, nine loss-making companies of FY21 reported losses in FY20 too.
Punjab & Sind Bank, Tata Teleservices (Maharashtra),
Capital and Alok Industries were among the other loss-making companies, whose shares have rallied up to 1,250 per cent since April 2020.
Punjab & Sind Bank reported a profit in March quarter after eight quarters of losses. Not many brokerages track this stock.
In the case of Tata Teleservices (Maharashtra), an ET report suggested that Tata Sons is reviving the telecom entity in a new avatar, called Tata Tele Business Services, which will cater to small and medium enterprises. This scrip is also not on brokerage radar.
Alok Industries’ stock climbed after relisting on hopes that the company would turn around under the new owners. The company was taken over by Reliance and JM Financial Asset Reconstruction company.
YES Bank was the only loss-making stock among the top 10, which has delivered a negative 35 per cent return since April 2020. Analysts said YES Bank’s disclosed stressed pool remains high, even though signs of improvement are getting visible. They remain cautious on the incremental corporate book stress and suggest price targets of Rs 12-16 for the stock.
[ad_2]
Source link
