Global View: Brokerage firms on BSE, SBI, HDFC Bank, Tata Motors, M&M, and Bharat Forge

Indian markets likely to bounce back on Thursday after closing lower in the previous trading session, but there will be stock-specific action in which global brokerage firms tweaked their rating.

On the technical front, experts see critical resistance above 17,200 levels on the Nifty50 for a few sessions, and on the downside, crucial support seen at 17,000 and 17,400, respectively.

We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:

BSE: Sell| Target Rs 1720

Investec downgrade BSE Ltd to sell with a target of Rs 1,720 on account of cyclically peak earnings, and valuations.

The brokerage firm expects a sequential decline in earnings in FY23e. The stock trades at a significant premium to global peers, most of which are market leaders in their respective markets, making current valuations untenable.

Macquarie on Banks 

With October and November witnessing a good festive season, and return of several sectors to pre-Covid levels, the 3QFY22 should see healthy asset quality performance for banks, as collections improve.

However, impending threat of Omicron can prove difficult for banks in Q4 on the banking space, said the note.

State Bank of India: Outperform| Target Rs 580

Macquarie maintained the outperform rating on SBI with a target price of Rs 580. The stock closed at Rs 454 on the BSE on 29th December.

HDFC Bank: Outperform| Target Rs 2005

Macquarie maintained the outperform rating on HDFC Bank with a target price of Rs 2,005. The stock closed at Rs 1,454 on the BSE on 29th December.

ICICI Bank: Outperform| Target Rs 835

Macquarie maintained the outperform rating on ICICI Bank with a target price of Rs 835. The stock closed at Rs 736 on the BSE on 29th December.

Nomura on Auto Sector:

Tata Motors: Buy| Target Rs 582

Nomura maintained buy rating on Tata Motors with a target price of Rs 582. The stock closed at Rs 476 on 29th December.

Bharat Forge: Buy| Target Rs 1088

Nomura maintained buy rating on Bharat Forge with a target price of Rs 1088. The stock closed at Rs 702 on 29th December.

Mahindra & Mahindra: Buy| Target Rs 1179 

Nomura maintained buy rating on M&M with a target price of Rs 1179. The stock closed at Rs 833 on 29th December.

(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.)