HSBC upgrades Nykaa and M&M Financial to buy, lifts targets
Big news for investors: HSBC just upgraded both Nykaa and M&M Financial Services to buy, bumping up their price targets by over 28%.
Nykaa's new target is ₹380 per share (up 39.2%), and M&M Financial's is now ₹410 (up 28.2%).
That means analysts see both stocks having solid upside from their previous closing prices before the upgrade.
Nykaa margins and M&M financial profits
HSBC likes Nykaa's strong hold in online beauty and its growing premium fashion business, even raising its EBITDA estimates for financial year 2028 by 12% thanks to better margins.
For M&M Financial, a huge jump in first-quarter profits, up 75.3%, and steady growth in interest income impressed analysts.
After the news, Nykaa shares edged up while M&M Financial jumped over 7%, showing investors are feeling optimistic about both companies' next moves.