Global View: What should investors do with Ashok Leyland, Bharti Airtel & Paytm?

Indian market fell by about 4 per cent for the week ended 26 November but we could see some bounce back on Monday amid positive trend seen in Asian markets.

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

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Ashok Leyland:

UBS maintains a buy rating on Ashok Leyland with a target price of Rs 155. The stock could react negatively amid CEO's departure.
 
The global investment bank is constructive on the strong talent pool, strong positioning in the domestic CV market.

UBS is positive on cyclical demand. The recent correction further improves the risk-reward ratio for investors.

Bharti Airtel:

Jefferies maintained its buy rating on Bharti Airtel with a target of Rs 925. Reliance JIO has raised prepaid smartphone tariffs by 20%.
 
The hike restored Jio’s tariff discount on Bharti Airtel. JioPhone tariffs unchanged, Jio’s subscriber traction should remain strong. The global investment bank raises FY22-24 estimates for JIO by 5-23%.

Paytm:

Macquarie maintained its underperform rating on Paytm with a target of Rs 1200 post September quarter results.

H1FY22 losses already at 70% of our FY22 estimate; distribution revenue at 20% of FY22 estimate.
 
The global investment is of the view that revenue will lag gross merchandise value (GMV) going forward. The stock trades at 22x FY23E price to sales(P/S) which is expensive.

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.