Global View: Godrej Consumer, Gujarat Gas and Wipro could give up to 35% return

Indian markets likely to trade higher on Tuesday tracking positive trend in other Asian markets, but there will be stock-specific action in which global brokerage firms tweaked their rating or target price.

The market is likely to bounce back after falling over 2 per cent in the previous trading session. However, there could be some selling pressure at higher levels.

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

Godrej Consumer: Buy | Target Rs 1190

Jefferies maintained a buy rating on Godrej Consumer with a target price of Rs 1190 that translates into an upside of 34 per cent from Rs 884 recorded on 20 December.

The new MD presented a balanced scorecard encompassing the company’s strengths as well as weaknesses. The management intends to invest in a core portfolio, which will be the cornerstone of his medium-term double-digit volume growth, along with over 150bps EBITDA margin gain.

Gujarat Gas: Buy | Target Rs 830

Jefferies maintained its buy rating on Gujarat Gas with a target price of Rs 830 that translates into an upside of over 35 per cent from Rs 611 recorded on 20 December.
 
The recent Morbi channel checks suggest volume at 6.5-7/5.7 mmscmd in Nov/ Dec (Mar-21: 7.7-7.8).
 
Volume has been range-bound in order to mitigate exposure to high Spot LNG prices but underlying demand seems to be robust at 8-8.5 mmscmd.
 
Wipro: Equal-Weight| Target Rs 700

Morgan Stanley maintained its equal weight rating on Wipro for a target price of Rs 700 that translates into an upside of 5 per cent from Rs 666 recorded in 20 December.

Wipro to acquire cybersecurity provider Edgile for $230 million. Wipro and Edgile jointly to develop Wipro CyberTransform, an integrated platform to help enterprises enhance boardroom governance of cybersecurity risk.

(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.)