New Delhi: The share price of Axis Bank, Larsen & Toubro (L&T) and Tata Motors are in focus on July 25, 2024, i.e. Thursday.
Axis Bank stock fell by almost 7 percent today morning as the company’s Q1 2024-25 Results failed to cheer the investors. The stock dropped to Rs 1,156 on the BSE.
On the other hand, Larsen & Toubro share price surged nearly 3 percent after reporting the construction giant reported a 12 percent increase in consolidated profit after tax (PAT) for the June quarter of 2024-25.
Meanwhile, Tata Motors, a major global car maker, saw its shares rise by 6 percent to reach a new all-time high of Rs 1,084.90 per share in today’s trading session, following an upgrade from Japanese brokerage firm Nomura.
Tata Motors Share news
Nomura, a brokerage firm, changed its rating for Tata Motors from ‘Neutral’ to ‘Buy’. They also raised their price target for the stock by 26%, increasing it from Rs 1,141 to Rs 1,294.
Tata Motors Ltd’s shares were trading at 1,082.45, marking a gain of 5.33 per cent on July 25, 2024 at 01:30 PM. Over the past month, the stock has risen by 13.35 per cent to 1,082.45. Looking back over the past 6 months, Tata Motors’ shares have surged to 1,084.95 INR, showing a substantial rise of 33.64 per cent. Within 1 year, the stock rose 69.79 per cent.
Axis Bank share price
Axis Bank’s shares dropped by 7 per cent due to bank’s financial report for the first quarter of FY25. The report highlighted challenges in the unsecured loan segment. Despite stable margins and satisfactory revenue, the disappointing Q1 results led analysts to lower their earnings estimates for the bank by 5-6 per cent. Nuvama Institutional Equities noted that Axis Bank’s Q1 profit met expectations, but its core income fell short. Key concerns included an increasing loan-to-deposit ratio and a significant rise in credit costs.
The brokerage firm reduced its target price for Axis Bank by 5 per cent to Rs 1,430 from Rs 1,500. However, it maintained a ‘Buy’ rating, citing Axis Bank’s trading discount compared to its peers in the BFSI (Banking, Financial Services, and Insurance) sector. The brokerage also emphasised the limited investment options available in large-cap BFSI stocks.
Larsen & Toubro share price target
Larsen & Toubro’s shares surged a day after the company announced its quarterly earnings for teh June quarter. L&T reported consolidated revenues of Rs 55,120 crore for the first quarter of this fiscal year. The company attributed this growth to strong project execution and manufacturing performance, supported by a large order backlog, according to a statement from Larsen & Toubro.
Brokerage firm JM Financial has recommended buying this stock and set a target price of Rs 3,890 for the next 12 months. This suggests that the stock could rise by more than 10 per cent from its current level.
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Tata Motors, saw its stock price go up by 6 per cent today. It reached a new highest-ever price of Rs 1,084.90 per share because a Japanese brokerage firm called Nomura upgraded its ratings. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
