Stocks to buy: JM Financial recommends buying these 5 stocks, check details
JM Financial Institutional Securities Limited has maintained a 'Buy' rating on five stocks including HDFC Bank and Wipro Ltd.
Brokerage firm JM Financial Institutional Securities Limited maintains a 'Buy' rating on these five stocks.
1- HDFC Bank
The brokerage has maintained a 'buy' rating with a target price of Rs 2,010.
JM Financial says about HDFC Bank: "While HDFC Bank’s balance sheet realignment remains an arduous task, we believe the franchise remains capable of delivering strong deposits growth even in a difficult environment while also delivering healthy growth at scale. In our view, valuations are attractive given healthy RoA profile, strong balance sheet and potential upsides if growth delivery holds up well."
2- Wipro
The brokerage has retained a 'buy' rating on Wipro with a target price of Rs 550.
"Wipro’s 4Q revenues met expectations. Underlying construct however had few bright spots – positive volume growth, sustained momentum in Capco (over 7 per cent QoQ), stability in BFSI and large accounts led growth. Around 80 per cent of company's revenue decline over 2QFY23-3QFY24 has come from BFSI alone," says JM Financial.
3- Hindustan Zinc
On Hindustan Zinc also, the brokerage has maintained a 'buy' rating with a target price of Rs 385.
"We remain positive on HZL given its presence in the lower end of the global cost curve facilitated by high grade captive mines sufficient to meet requirements for decades, 100% captive power plants, sizeable scale, diversified revenue stream with increasing contribution from silver sales," says brokerage.
4- HDFC AMC
The brokerage has maintained a 'buy' rating on HDFC AMC with a revised target price of Rs 4,100, valuing the company at 37x in FY26e with a PAT of Rs 23.7 billion, implying 11 per cent upside from the current market price.
5- Harsha Engineers International
The brokerage firm has maintained a 'buy' rating on Harsha Engineers International with a target price of Rs 472.