Many companies have released business updates for the September quarter after the market closed on Thursday. After these business updates, many brokerage firms have also issued notes on the stocks today. These stocks are of M&M, Bajaj Finance, M&M Finance, Yes Bank, Bank of Baroda, Avenue Supermarts and SBI Card. Let us know their complete details ahead.

Nomura's View on M&M
: Buy
Target: ₹3417 per share
 

• Thar ROXX bookings receive a solid response
• Thar ROXX bookings on the first day itself were higher than expected
• The company received the biggest single day bookings as compared to any other product launch in the past.
• Expected to sell 10,000 units every month by FY26

Morgan Stanley's View on M&M
: Overweight
Target: ₹3304 per share
 

• ROXX sales can reach 8,000 - 10,000 per month
• The impact of discount in core portfolio reduced due to leverage
• The success of Thar could consolidate M&M's third position in the PV market

Nomura's opinion on Bajaj Finance
Opinion: Neutral
Target: ₹7500 per share
 

• Q2 business updates remain as per expectations
• Going forward, credit cost will be monitored in the second quarter
• Increase in FY25 credit cost guidance will be negative for the market

Morgan Stanley's opinion on Bajaj Finance
: Overweight
Target: ₹9000 per share
 

• AUM grew by 5.6% in the second quarter, higher than expected
• Management's confidence on improvement in asset quality in the second quarter will be monitored
• The market will keep an eye on the management's commentary on Credit Colt

Morgan Stanley's opinion on M&M Finance
: Equal-Weight
Target: ₹320 per share
 

• More growth expected in the second half
• If disbursements do not increase, there could be risks to the outlook
• Weakness in the stock is possible in the short term

Nomura's opinion on Yes Bank
Opinion: Neutral
Target: ₹ 17 per share
 

• Strong deposit growth in the second quarter, benefit of CASA
• RoA estimated to be 4.5% in FY25 and 7.5% in FY26
• The bank's return profile is lower than other banks, although it is improving
• The stock is trading at 1-year forward BVPS of 1.4x

Morgan Stanley's opinion on Bank of Baroada
: Equal-Weight
Target: ₹265 per share
 

• Domestic loan growth stood at 6.5% on a quarterly basis, benefited from non-retail loans
• Domestic retail loans remained strong
• Foreign book now grows at 7.5% after slipping to 1.3% in the previous quarter
• Domestic deposits increased by 4.1%

Citi's opinion on Bank of Baroda
: Buy
Target: ₹300 per share
 

• Global advances are higher than expected
• Deposit growth strengthens, normalises to 1.6% quarterly
• Core NIM expected to remain stable, some pressure overseas
• Credit cost likely to come down to 50-60 basis points with curbs on slippages

Morgan Stanley's View on Avenue Supermart
: Overweight
Target: ₹5769 per share
 

• Standalone earnings in Q2 are weaker than estimates
• Operations metrics are improving but at a slower rate
• The growth trend surprised us negatively
• Management needs clarity on slow growth rate

Citi's opinion on Avenue Supermart
: Sell
Target: ₹3350 per share
 

• Income growth in the second quarter was 14.2% on an annual basis, 19% was expected
• Poor product mix and store additions continue to impact throughput
• The company opened a total of 6 new stores in the second quarter
• Cautious view on current valuation

Jefferies View on SBI Card
: Hold
Target: ₹ 795 per share
 

• The company should benefit from the reduction in rates in the short term
• Weakness in spending growth is possible in the short term
• Credit cost may increase in the second quarter, possible at higher levels in the short term
• Card CIF growth likely to pick up
• Gradual improvement in corporate spending is possible
• Profit and RoE likely to improve after FY25
• In the short term, asset quality concerns will weigh on valuations