Kotak Institutional Equities initiated coverage on JB Chemicals with a 'buy' rating, setting a target price of Rs 2,025 per share, implying a 15% upside potential. The brokerage expects a 13% CAGR in organic domestic sales, driven by strong brands and higher medical representative productivity, and a 17% CAGR in EBITDA over fiscal 2024-2027. Current valuations of 21 times and 33 times.
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SJVN's green energy arm has secured a massive contract to supply 4.5 gigawatt of renewable energy to AM Green Ammonia Holdings, marking one of the world's largest carbon-free green energy deals. The financial terms of the agreement remain undisclosed, but the scale of the contract underscores India's commitment to transitioning to a low-carbon economy.
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CLSA upgraded Wipro's rating from 'Underperform' to 'Outperform', raising the target price to Rs 607 from Rs 431, implying a potential 41% upside. The brokerage expects Wipro to provide Q2 constant currency revenue growth guidance of 0-2%. The company's $500 mn deal with a US communication services provider has been received positively, driving shares up 4% and making it the top Sensex gainer.
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