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What are the top 5 stocks that got ratings to upgrade after Q1 results — Should you buy or not?
Oberoi Realty, Axis Bank, Tata Motors, Petronet LNG and Tech Mahindra are some of the stocks whose ratings have been upgraded by brokerages after Q1 results
The domestic stock market scaled new highs in July, thanks to a strong start to the June quarter earnings season. Companies, excluding those providing financial services, have reported a good set of numbers for the quarter.
For the companies that have already declared their earnings for the quarter under review, average sales growth was around 21 percent, while average EBITDA growth and average growth in net profit was around 20 percent and 14 percent, respectively.
Having said that, if we were to include the performance of financial services companies in the overall mix, then the earnings season so far hasn't been as great as it seems.
Of the 32 Nifty companies that have declared their earnings so far, 20 have either met or exceeded net profit expectations, the brokerage said, while 25 have done so on expectations of EBITDA.
Margins are expected to remain stable as MCLR rate hike effect comes into play. Going forward, aging-related requirements, resolution of stressed assets, and importantly loan book pick up will be key challenges before the bank.Source-www.moneycontrol.com
Rating to the results, domestic brokerage firm, Sharekhan upgraded the stock post Q1 results with a target price of Rs 625. Axis Bank has shown improvement in the overall asset quality and expects the pace of slippages H2FY19 onwards should normalize.
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