JPMorgan initiated coverage on Cholamandalam Investment with an underweight rating and a target price of Rs 600. The stock closed at Rs 786 on 29 August. The global investment bank expects earnings to disappoint over FY23/24. There is competition from banks that can drive margin compression, said the note. It believes that markets have ascribed a significant valuation premium to the stock.
These 12 midcap stocks hit fresh 52-week highs; rallied up to 27% in a month
Hitting a 52-week high signals a stock’s peak performance over the past year, offering traders and investors crucial information for decision-making.
September 12, 2024