Brokerage firm BofA Securities has given a buy rating on Muthoot Finance and Zomato, and a neutral rating on Bandhan Bank and Divi’s Laboratories. The global investment bank has maintained a buy rating on Muthoot Finance with a target of Rs 1200 and upgraded Zomato to buy with a target price of Rs 85. On the other hand, BofA Securities maintained a neutral rating on Bandhan Bank with a target price of Rs 280 and Divi’s Laboratories with a target price of Rs 3250. Morgan Stanley also maintained an overweight rating on Delhivery with a target price of Rs 370 post March quarter results.
Lenders may turn to OFCB route to raise more funds abroad
Indian banks are now shifting focus towards borrowing in overseas foreign currencies to meet their fundraising requirements. This strategic pivot comes in light of an