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The brokerage maintains its cautious outlook on the 2W domestic market and overall export market in the next few quarters (which forms 44% of Minda’s revenue share by end market segment).

The RSI is highly in the oversold zone with gradual improvement witnessed and has immense upside potential from here on.

As of 31-Dec-2022, promoters held 48.76 per cent stake in the company, while FIIs held 22.32 per cent and domestic institutional investors had 7.5 per cent.

A total of 5,341 shares changed hands on the counter till 12:56PM (IST)

At the CMP, the stock is trading at an attractive valuation of 10.9x its FY2024E EPS and 8.5x its FY2025E EPS.

JPMorgan remained positive on Bajaj Finance and L&T Finance within the NBFC space amid positive earnings traction post-Q3FY23 results. The global investment bank has a target of Rs 9,000 per share for Bajaj Finance, and Rs 115 for L&T Finance.

The stock traded at a P/E multiple of 58.14, while the price-to-book value ratio stood at 3.37.

"The board of directors of the company in its meeting scheduled to be held on February 24, 2023 (Friday), will discuss and consider, inter-alia, issuance of equity shares on a preferential basis consequent upon conversion of outstanding liabilities into equity shares of the company, subject to applicable regulatory approvals, SpiceJet said in a BSE filing.

On the technical charts, the 200-day moving average of the stock stood at Rs 95.41.

The brokerage now downgrades the stock from BUY to HOLD amid lack of clarity on the company’s strategic intent behind this investment in Pricol and b/s risk in case of any potential acquisition.