Which stocks to buy, hold or sell today? As Dalal Street enters the April 21 session, here's a look at what brokerages make of some of the key stocks that are in focus.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Stocks such as HCL Tech, ICICI Pru Life, Tata Communications, Tech Mahindra, Mphasis, and other 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 Tata Motors, ITC, Asian Paints, Britannia, Godrej Consumer, and other stocks:

HCL Technologies shares

Global brokerages are divided on HCL Technologies shares a day after India’s third largest IT service company released its March quarter earnings on Thursday. In this CLSA, Morgan Stanley and Macquarie are upbeat on the stock, while Citi, Jefferies, Nomura, and JP Morgan are skeptical.

 

Brokerage Rating Price Target
CLSA Outperform Rs 1,200
Morgan Stanley Overweight Cut to Rs 1,160 from Rs 1,200
JP Morgan Underweight Cut to Rs 880 from Rs 920
Citi Neutral Cut to Rs 1,035 from Rs 1,045
Jefferies Hold Cut to Rs 1,125 from Rs 1,050
Nomura Neutral Cut to Rs 1,100 from Rs 1,150
Macquarie Outperform Rs 1,580

 

HCL Technologies on April 20 reported a net profit of Rs 3,983 crore for the quarter ended March 2023. On a sequential basis, the profit slipped by 2.75 per cent while on a year-on-year (YoY) basis, it grew 10.85 per cent.

 

ICICI Prudential Life Insurance shares

Amid strong March quarter earnings, most global brokerages are bullish on ICICI Prudential Life Insurance shares – an insurance subsidiary of ICICI Bank. CLSA, Citi, Jefferies, and Macquarie have ‘buy’/ ‘outperform’ rating on the stock.

 

Brokerage Rating Price Target
CLSA Outperform Raised to Rs 520 from Rs 485
JP Morgan Neutral Raised to Rs 480 from Rs 440
Morgan Stanley Overweight Rs 600
Citi Buy Raised to Rs 640 from Rs 620
Jefferies Buy Raised to Rs 560 from Rs 520
Goldman Sachs Neutral Raised to Rs 490 from Rs 460
Macquarie Outperform Rs 580

 

ICICI Prudential Life on Thursday reported a 27.2 per cent jump in net income at Rs 235 crore for the March quarter as it earned a near record margin from the new policies sold.

 

Tata Communications shares

CLSA maintained a ‘buy’ stance On Tata Communications with a reduced target of Rs 1,550 per share from Rs 1,646 apiece earlier. The brokerage said that the management’s focus on data business has led to sustained double-digit data revenue growth.

JP Morgan on Tech Mahindra & Mphasis

The Q4 prints of TCS, Infosys and HCL Tech have highlighted weakness and challenges in BFSI (Banking, Financial Services, Insurance), telecom, hi-tech, manufacturing and retail verticals as clients ramp down, cancel, and defer projects, Jefferies said in its report.

 

Stocks Rating Price Target
Tech Mahindra Underweight Cut to Rs 900 from Rs 1000
Mphasis Underweight Cut to Rs 1,350 from Rs 1,800

 

The brokerage sees Tech Mahindra and Mphasis getting massively impacted from this trend. It downgrades both IT companies to ‘underweight’ from ‘neutral’.

 

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.

(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.)