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.
Small & midcaps in a time correction phase, recovery expected in FY26: Trideep Bhattacharya
India’s competitive advantage is improving due to cooling dollar and oil prices, with tariffs on China benefiting India. Sectors like financials, real estate, and building