Bank of Baroda, Bajaj Auto, JSW Steel, Maruti Suzuki: Should you buy, sell or hold stocks in focus today?
Which stocks to buy, hold or sell today? As Dalal Street enters the April 11 session, here's a look at what brokerages make of some of the key stocks that are trending today. Stocks such as Bank of Baroda, Bajaj Auto, Maruti Suzuki, UltraTech Cement, and other auto and cement shares are on their radar today.
Which stocks to buy, hold or sell today? As Dalal Street enters the April 11 session, here's a look at what brokerages make of some of the key stocks that are hogging the limelight.
Stocks such as Bank of Baroda, Bajaj Auto, Maruti Suzuki, UltraTech Cement, and other auto and cement shares are on their radar today.
Do you have any of these stocks in your portfolio?
Check out the full list of what brokerages recommend, including Bajaj Finance, Marico, IndusInd Bank, and HCL Tech among other stocks:
Bank of Baroda
Global brokerages are upbeat on Bank of Baroda – a public sector lender – a day after it announced its fourth quarter business update. Morgan Stanley and JP Morgan has an ‘overweight’ rating, while Citi maintained a ‘buy’ stance on the stock.
Domestic loan growth remains strong and was driven by an acceleration in domestic retail, Morgan Stanley said in its comment, adding that CASA (current and saving accounts) growth accelerated while term deposit growth moderated during the quarter.
Brokerages | Rating | Price Target |
Morgan Stanley | Overweight | Rs 220 |
Citi | Buy | Rs 210 |
JP Morgan | Overweight | Rs 220 |
Bajaj Auto
Brokerages are bullish on Bajaj Auto – a two-wheeler and three-wheeler maker as days after British bike maker Triumph transfers its India sales, and marketing operations to the auto company.
Morgan Stanley maintained an ‘overweight’ call on Bajaj Auto as it believes Triumph's success could add Rs 397 in upside to Bajaj's bull case, Jefferies has a ‘buy’ call on the stock.
Brokerages | Rating | Price Target |
Morgan Stanley | Overweight | Raised to Rs 4,486 from Rs 4,449 |
Jefferies | Buy | Raised to Rs 4,800 from Rs 4,300 |
JSW Steel
Morgan Stanley and Nomura are skeptical on JSW Steel shares as the former maintained an ‘underweight’ rating, while latter has a ‘reduce’ call on the stock after the company announced its Q4 business update.
According to Morgan Stanley, the management noted it would miss consolidated production guidance slightly given JISPL and Ohio businesses affected by shutdowns and weak market conditions.
Brokerages | Rating | Price Target |
Morgan Stanley | Underweight | Rs 545 |
Nomura | Reduce | Rs 570 |
Maruti Suzuki
Brokerages | Rating | Price Target |
Morgan Stanley | Overweight | Raised to Rs 11,155 from Rs 10,488 |
Jefferies | Buy | Cut to Rs 11,000 from Rs 11,250 |
Jefferies on Auto
Stocks | Rating | Price Target |
Tata Motors | Buy | Raised to Rs 600 from Rs 565 |
Mahindra and Mahindra | Underperform | Cut to Rs 1,150 from Rs 1,165 |
Eicher Motors | Buy | Cut to Rs 3,800 from Rs 4,250 |
Hero MotoCorp | Buy | Cut to Rs 3,000 from Rs 3,200 |
Bharat Forge | Underperform | Raised to Rs 570 from Rs 555 |
Macquarie on Cement
The global brokerage believes robust demand and input cost moderation-led price improvement drive a constructive outlook. It’s not factoring cement price increase in FY24E.
Stocks | Rating | Price Target |
UltraTech Cement | Outperform | Raised to Rs 8,498 from Rs 7,703 |
Shree Cement | Neutral | Raised to Rs 24,210 from Rs 22,813 |
Dalmia Bharat | Outperform | Raised to Rs 2,260 from Rs 2,176 |
Ramco Cements | Neutral | Raised to Rs 788 from Rs 736 |
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(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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