UBS Neutral On Bandhan Bank Amid MD & CEO Concerns; Emkay Has A Buy On Man Industries | CNBC TV18

Oh no, you know, no problems over there. Apart from telecom, you also have a couple of these IT names. ACL Tech is up about 1%. Tech Mahindra is up 6/10 of percent. ICICI Bank has been gaining so much ground lately. So half a percent higher over there. But let's talk about some more stocks that are in the news. Hormones is here to tell us about Bandhan Bank and Man Industries. Hormones. Why are you watching out for those? A couple of them, they're initiating coverages on, have brokerages, and UBS has initiated coverage on Bandhan Bank. They're neutral on the stock ₹230 is the price target that they're set. They're saying that they are expecting a limited and gradual decline in high credit costs for its MFI book is what they are saying. And the new CEO appointment is now going to become a medium term overhang for most. Strategic clarity for the bank is what UBS is saying. And a large part of the expected improvement in credit costs appears to be in the price is why UBS is neutral which and because of that they see limited upside potential as well. On Bandhan Bank, now MK has initiated coverage on MAN Industries and they are expecting a price target of ₹500 there. And they are saying that the stock has doubled in the recent times because of the back of business, Better Business fundamentals and executing the expansion plans that they had announced earlier. What they are also saying is that they are the stock is yet to factor in the project execution here on from which is expected to double the group's revenue over the next three to four years. So that is yet to be factored in. And this transition from potential to delivery is likely to create substantial shareholder value going forward is what MK believes for MAN Industries. And although the stock itself is trading at a higher valuation compared to the sector as a whole, they are finding comfort when it comes to the FY20 7 price to earnings multiple which is at 8.2 times. So hence MK is bullish on MAN India MAN industries ₹500 price target. OK. Thanks a lot, Thomas, for that. So we just have about 30 seconds left when the market opening and looks like it's going to be a good one. Remember, the July series has kicked off in a very strong note.