Popular Stocks: The brokerage says Bharti Airtel, DMart, MGL, Cummins, Bajaj Finance and IRB Infra.
We’ve put together a recommended list of top brokerage firms on ETNow:
Jefferies on Bharti Airtel: Buy | Target: Rs 1,300
Jefferies maintained a buy rating on Bharti Airtel with a target price of Rs 1,300. The US brokerage said management’s focus is now on driving steady, organic growth in average revenue per user (ARPU) through improved subscriber mix and improved revenue generation. The timing of tariff increases remains uncertain, but they remain key to improving 5G monetization and ROCES.
Management expects capital spending to ease from FY25 and aims to further shrink the balance sheet, Jefferies said.
Jefferies on MGL: Buy | Target: Rs 1,540
Jefferies reiterated a buy rating on Mahanagar Gas stock and increased the target price to Rs 1,540 from Rs 1,515. Jefferies said the margin decline was mitigated by lower feedstock costs. Moreover, the soft LNG market is providing additional leverage to protect margins. Unison Enviro Private Limited (UEPL) is expected to help increase sales. EV penetration remains low, with no strong policy support acting as a negative, but the correction presents a favorable risk to reward, Jefferies said.
HSBC on Cummins: Buy | Target: Rs 3,300
HSBC raised its investment opinion from ‘neutral’ to ‘buy’ and raised its target stock price from 2,600 won to 3,300 won. The company is witnessing strong growth, and the transition to new emission control standards in a strong demand environment is likely to drive value growth and margin gains. While growth prospects across domestic end markets remain solid, exports are bottoming out, the brokerage said in a note. We expect strong performance prospects with high visibility.
BofA on Bajaj Finance: Buy | Target: Rs 9,175
BofA maintained its buy rating, suggesting a target stock price of 9,175 rupees. A de-rating of 24% over 5 months is excessive. Growth prospects remain bright as liquidity improves. Asset quality trends are also good.
CLSA at Avenue Supermarts: Buy | Target: Rs 5,107
CLSA has initiated a Buy rating on the DMart operator with a target price of Rs 5,107. He said the brand’s own brands are on the rise and should drive the next phase of share gains. The company offers the lowest consumer prices due to its lowest operating costs. The $500 billion market is comprised of less than 5%.
Kotak Securities on IRB Infrastructure: More | Target: 65
Kotak Securities upgraded the stock to ‘add’ from its previous ‘sell’ stance and raised the target price to Rs 65 from Rs 60. The company is adding strategic partners to private InvITs and has paved the way for BOTs with revised model concession agreements. (Build, operate, transfer) orders. Road sector awards have shifted to TOT (Transfer of Tolled Operations) and BOT projects as NHAI focuses on managing debt levels.
Kotak sees players like IRB with a strong balance sheet as the best positioned, with a BOT pipeline worth Rs 44,400 crore in FY24.
(Disclaimer: Recommendations, suggestions, views and opinions provided by experts are their own and do not represent the views of The Economic Times.)
