We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on Suzuki: Buy| Target Rs 12,000
Jefferies maintained a buy rating on Maruti Suzuki post Q2 results with a target price of Rs 12,000. Maruti’s margin beat estimates, it said. The global investment bank raised FY23-25E EPS by 3-8% and are 13-21% above Street estimates.
DAM Capital on Tata Power: Buy| Target Rs 261
DAM Capital maintained a buy rating on Tata Power with a target price of Rs 261 post September quarter results.
“The company reported a strong quarter boosted by high coal prices. Mundra reported a subdued quarter. The Renewables business continues to witness momentum. There is little room for upside after the recent run-up in prices,” it said.
Citigroup on Vedanta: Sell| Target Rs 215
Citigroup maintained a Sell rating on Vedanta with a target of Rs 215.
The near-term LME outlook looks muted while Q2 EBITDA fell ~25% QoQ on weaker commodity prices, Citi said.
“The dividend yield remains attractive. The outlook for aluminium and zinc is fairly muted,” it added.
Jefferies on Bandhan Bank: Buy| Target Rs 340
Jefferies maintained a buy rating on Bandhan Bank with a target price of Rs 340.
“Weaker asset quality trends drive cuts. The global investment bank sees moderation in growth of loans and CASA. Credit costs rose due to lower recoveries from this pool, and the return on equity (ROE) should revert to 20% level from FY24.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)