Kotak Inst Eqt on Teamlease Reduce, Target Price cut to Rs 3215 from Rs 3735 Margin pressures may not recede in near term as smaller players revive & aggressively compete on monthly markups/margins in both general & specialized staffing Trim FY2024/25 EPS by 13-15%

AGARWAL INDUSTRIES Under the spotlight as Ashish Kacholia buys 1.4% equity from the promoters! AGARWAL IND Under the spotlight as Ashish Kacholia buys 1.4% equity from the promoters! pic.twitter.com/pXl2TNSjaV — Mangalam Maloo (@blitzkreigm) September 29, 2022

Jefferies on Tata Motors Buy, Target Price Rs 540 Believe Tiago EV offers an attractive proposition, providing differentiated appeal of an EV at reasonable price EVs now form 8% of India PV vols Believe Tata has potential to gain share as EV adoption rises

Nomura on Tata Motors Buy, Target Price Rs 520 Unveils 1st EV hatchback, Tiago EV, has potential to become best-selling EV in India Expect Tiago EV to sell 3-5k units per month and its overall EV sales to touch 60k/ 96k in FY23/24F

Goldman Sachs on Blue Dart Buy, Target Price Raised to Rs 9470 Announced general price increase of 9.6%, well above expectations of a 3-4% See strong growth momentum & profitability, driven by an established delivery infrastructure, superior service quality, & a strong b/s

Morgan Stanley on Hero Moto UW, TP Rs 1937 Rising sales incentives are likely to offset commodity lead gains that market is expecting On ICE side, co seeing market share loss MS on Hero Mot an EV launch but based on peer experience, expect slow vol ramp up

Credit Suisse on Godrej Cons O-P, TP Rs 975 Africa update: Structural improvements in sales engine continue While co has been aiming for high double-digit (15-17%) margins in Africa, recent qtr have been hampered by RM inflation & currency depreciation

Morgan Stanley on Godrej Cons OW, TP Rs 1101 Management’s mindset has changed from a “wholesaler” to an “FMCG” approach & believes opportunity is notable & is focussed on driving execution With some progress on distribution expansion, broadening portfolio is a key priority

Jefferies on Godrej Cons Buy, Target Price Rs 1040 A change in leadership, with Dharnesh Gordhon at helm, has improved performance, reflected in double-digit rev growth in past 8-qtrs Initiatives like distribution expansion, portfolio simplification, focus on the core etc. have helped

CLSA On Banks Risk To Earnings Limited & Vals Reasonable Axis Bank Top Pick Along With ICICI & SBI BOB – Buy, TP raised To Rs 155 PNB- O-P, TR raised to Rs 40 Axis BK – Buy, TP Rs 1050 ICICI BK – Buy, TP Rs 1010 SBI – Buy, TP Rs 680