#nomura

Ather Energy shares surge 18% to 52-week high on strong Q1 show; can the EV maker sustain margin growth? Ather Energy shares surged nearly 18% to their intraday and 52-week high of ₹1,500 apiece on Tuesday, August 4, 2026, driven by the company’s strong Q1 earnings growth. The electric two-wheeler manufacturer’s results showed a significant reduction in net losses and improved margins, sparking investor optimism. The stock closed at ₹1,453.20 apiece, reflecting a 14.18% gain compared to the previous day’s close of ₹1,272.70. The surge came amid heightened focus on Ather’s ability to sustain margin growth amid rising demand for electric vehicles in India. The company’s Q1 FY27 results revealed a 71% decline in net losses, from ₹178 crore in Q1 FY26 to ₹51 crore in Q1 FY27. Revenue grew by 89% year-over-year, reaching ₹1,217 crore, while total expenses rose 54% to ₹1,311 crore. Despite the increase in expenses, operational EBITDA improved from -₹134 crore to -₹33 crore, marking an 75% reduction in losses. The EBITDA margin expanded from -20.83% to -2.73%, a 18.1% improvement that signaled progress in cost management and revenue scaling. Analysts highlighted the structural tailwinds supporting Ather’s growth, including favorable government policies and shifting consumer sentiment toward electric mobility. The company’s management expressed confidence in the domestic market’s demand for electric two-wheelers, citing the ethanol push as a key driver of adoption. However, challenges such as commodity price volatility and supply chain constraints remained potential headwinds. Market experts from CLSA noted that Ather’s margin growth exceeded expectations, attributing the improvement to strong volume growth, policy support, and cost reduction measures. They predicted that the upcoming Factory 3.#hsbc #clsa #nomura #ather_energy #factory_3_0

Maruti Suzuki Shares Drop 2% After Q1 Results; Brokerages See Buying Opportunity Maruti Suzuki India Limited’s shares fell by 2% following the release of its FY27 first-quarter results, with trading at 13,901 rupees marking a sharp decline from the opening level of 14,300. The stock’s drop came amid weaker-than-expected operating performance, as the company’s margins faced pressure from rising commodity costs and supply chain disruptions. The market capitalization of the automaker stood at 4.39 lakh crore rupees after the decline. Brokerages have responded to the share price drop by highlighting the potential for a buying opportunity, with several firms issuing target prices and positive outlooks. HSBC maintained a "Buy" rating on Maruti Suzuki shares, setting a target price of ₹16,000 per share, which implies a potential 12% upside from the closing price on the day of the results. The firm noted that while margins were pressured by commodity price volatility, the company’s margins have already reached their lowest point and are expected to improve in subsequent quarters as demand remains robust. Kotak Institutional Equities also expressed confidence, retaining an "Add" rating and setting a target price of ₹14,600 per share. The brokerage attributed the weaker-than-expected EBIT margin in Q1 to lower-than-anticipated gross margins, partly due to the company’s temporary shift to a monthly supplier cycle. Analysts at Kotak emphasized that the firm’s performance in the first quarter is likely to stabilize as commodity costs ease and demand for vehicles remains strong. Nomura, however, adopted a more cautious stance, maintaining a "Neutral" rating with a target price of ₹14,071 per share.#maruti_suzuki #hsbc #kotak_institutional_equities #nomura #maruti_suzuki_india_limited

Waaree Energies shares fall 6% after subdued Q1 operating performance; Nomura says 'buy' Shares of Waaree Energies Ltd. dropped as much as 6% on Thursday, July 30, following the release of its June quarter financial results. The company reported its figures after market hours on Wednesday, revealing a 79.2% year-over-year increase in revenue to ₹7,932 crore. However, this figure fell short of the CNBC-TV18 poll estimate of ₹8,100 crore. The group also recognized ₹349.8 crore in income from U.S. refund or reciprocal duties under the IEEPA tariffs, contributing to other operating revenue. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) for the quarter reached ₹1,440 crore, a 44% rise from ₹997 crore in the same period last year. Despite this growth, the EBITDA figure was below analysts' expectations of ₹1,677 crore. The EBITDA margin contracted by over four percentage points to 18.2% from 22.5% in the prior year. At the end of the June quarter, the company reported order inflows of ₹16,000 crore, with an overall order book valued at ₹61,500 crore. Waaree Energies maintained its full-year operating EBITDA guidance, which remains between ₹7,000 crore and ₹7,700 crore. However, the company's performance declined sequentially, with revenue falling 11%, adjusted EBITDA dropping 31%, and net profit more than halving, reflecting a 52% decline compared to the previous quarter. Brokerage firm Nomura retained its "buy" rating on Waaree Energies, setting a price target of ₹3,750. This target implies a potential 37% upside from current levels. Nomura attributed the adjusted EBITDA shortfall to persistent margin pressures, which offset the company's strong execution. The firm highlighted the robust order book as a key factor, suggesting it provides visibility for future growth.#us #nomura #cnbc_tv18 #waaree_energies #ieepa

Bajaj Finance Shares Surge Over 3% Amid Q4 Results, Brokerages Remain Bullish Despite Minor Earnings Miss Bajaj Finance’s stock surged over 3% in early trading on Thursday, extending gains from the previous day, following the NBFC’s Q4 financial results. Despite a slight miss on key earnings metrics, most brokerages retained bullish ratings on the stock, citing strong growth prospects and improving credit cost outlooks. The stock was trading at Rs 962.6, up 3.5% from Wednesday’s closing price of Rs 930. The company reported a 22% year-on-year increase in net profit to Rs 5,465 crore for Q4FY26, slightly below the CNBC-TV18 poll estimate of Rs 5,524 crore. Net interest income (NII) grew 20% to Rs 11,781 crore, also marginally below expectations of Rs 11,853 crore. Assets under management (AUM) rose 22.4% to Rs 5.1 lakh crore, crossing the Rs 5 lakh crore milestone, while new loans booked increased 20.5% to 12.89 million. Brokerages largely maintained positive outlooks, with HSBC, Nomura, Jefferies, and JPMorgan issuing “buy” or “overweight” ratings. HSBC highlighted management guidance of a 15-30 basis points decline in credit costs for FY27, projecting a 26.5% compound annual growth rate (CAGR) in earnings per share (EPS) over FY26-28. Nomura emphasized improving asset quality trends and higher profitability targets, with return on assets expected to range between 4.3-4.7%. Jefferies noted that lower credit costs and stronger fee income supported earnings, while AUM growth remained robust at 22%. JPMorgan, which assigned an “overweight” rating with a target price of Rs 1,080, stated the performance was largely in line with expectations, citing healthy asset quality and benign early delinquency trends despite external disruptions.#hsbc #bajaj_finance #jefferies #nomura #nbfc

IDFC First Bank Shares Rise on Q4 Earnings, Brokerage Views Split IDFC First Bank’s stock surged 4.79 percent to close at Rs 70.45 on Monday, driven by its Q4 FY26 earnings report and mixed reactions from brokerages. The results triggered a range of ratings, from “Sell” to “Buy,” with analysts divided on the bank’s near-term prospects but broadly acknowledging its improving fundamentals. The stock has become a focal point on Dalal Street, with discussions centered on its evolving business model and potential for sustained growth. The recent rally followed the bank’s quarterly financials, which highlighted steady earnings growth and progress in asset quality. While the stock attracted buying interest, the mixed brokerage sentiment reflects uncertainty about the bank’s ability to maintain momentum. Analysts noted that the bank’s core business trends are showing improvement, but challenges remain in areas like loan growth and deposit collection. Brokerage reactions varied significantly. On the bullish side, Jefferies and Nomura retained “Buy” ratings, setting target prices of Rs 82 and Rs 85, respectively. Both firms emphasized the bank’s strengthening asset quality and credit cost control, with Jefferies projecting a gradual improvement in return on assets toward 1 percent by FY28. Nomura also highlighted the potential for margins to stabilize in the long term. In contrast, UBS adopted a more cautious stance, maintaining a “Sell” rating and lowering its target to Rs 70. The firm cited near-term pressures on profitability and growth momentum, particularly in the context of a slowing economy. CLSA issued a “Hold” rating with a revised target of Rs 73, pointing to ongoing challenges in maintaining consistent performance.#ubs #clsa #jefferies #idfc_first_bank #nomura

IT Stock Under Rs 50: Motilal Oswal, Nomura See Up to 45% Return – Do You Hold It? A small-cap healthcare-focused IT services company has gained attention after brokerages Motilal Oswal and Nomura highlighted its potential for significant gains. The stock, currently trading at Rs 40, is positioned in the sub-Rs 50 category and is part of the Nifty Smallcap 100 index. Both brokerages have issued ‘Buy’ ratings, with Nomura setting a target price of Rs 55 and Motilal Oswal projecting Rs 58, implying upside potential of 37% and 45%, respectively. The company in question is Sagility, which has a market capitalisation of Rs 18,767.45 crore. Sagility’s stock has experienced a year-to-date decline of 22.91% and a 6.15% drop over the past year. However, it has shown recent resilience, rising 2.66% in the past week and 1.39% over the last month. The brokerages’ optimism is tied to the company’s growth prospects, particularly in the US healthcare sector, where outsourcing demand and AI adoption are expected to drive expansion. Motilal Oswal and Nomura have emphasized Sagility’s dual proposition of value and growth, citing factors such as outsourcing demand, regulatory changes, and cost pressures in the healthcare industry. The brokerages note that payer organizations in the US are increasingly focusing on cost optimization, compliance, and efficiency, which is leading to higher outsourcing of operations. These trends are expected to support Sagility’s volume growth over the medium term. Sagility provides services to payers and providers in the US healthcare sector, and Motilal Oswal highlighted the impact of regulatory changes, including CMS rate revisions, ACA subsidy adjustments, tariffs, and visa policies.#motilal_oswal #nifty_smallcap_100 #nomura #sagility #us_healthcare_sector