Indian market is likely to consolidate on Thursday, tracking muted global cues, but there will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.

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

Jubilant FoodWorks: Sell| Target Rs 3190
 

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CLSA downgraded Jubilant FoodWorks to sell with a target of Rs 3190 which translates into a downside of over 3 per cent from Rs 3301 recorded on 2 February.

Competitive intensity is firming, and there is slow progress on new initiatives. The global investment bank slashed FY22-24 earnings estimates by 12-14% estimates amid margin pressure.

HDFC Ltd: Outperform| Target Rs 3050

CLSA maintained outperform rating on HDFC Ltd with a target price of Rs 3050 that translates into an upside of over 16 per cent from Rs 2613 recorded on 2 February.

The risk-to-reward ratio is better now, but NII growth is likely to lag AUM growth. The global investment bank slashed core PPoP estimate by 4-5% due to lower NII.
 
It expects individual CAGR of 17-18% over FY23-24, and the best of margin improvement is behind us, said the note.

BPCL: Outperform| Target Rs 455

Credit Suisse maintained outperform rating on BPCL but slashed its target price to Rs 455 from Rs 543 earlier that translates into an upside of over 19 per cent from Rs 382 recorded on 2 February.

There is slow progress on divestment which might weigh. There is also near-term pressure on marketing margins. The global investment bank rules out any material upside from divestment.
 
It expects closer-to-normal margins from 1Q FY23, & refining margins to stay strong in FY23, said the note.

Dabur India: Outperform| Target Rs 625

CLSA maintained outperform rating on Dabur India post December quarter results with a target price of Rs 625 that translates into an upside of over 12 per cent from Rs 557 recorded on 2 February.
 
The Q3 results were largely in-line. Lower A&P aided EBITDA margin, despite gross margin pressure. Under the new management, the company continues to charter growth, said the note.

Tata Consumer Products: Overweight| Target Rs 886

Morgan Stanley maintained an overweight rating on Tata Consumer with a target price of Rs 886 which translates into an upside of nearly 20 per cent from Rs 742 recorded on 2 February.

The December quarter earnings growth marginally missed estimates. There are encouraging signs as the company is gaining market share in tea and salt.
 
(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)