Should you buy, sell or hold HDFC Life, Zydus Life, DMart, L&T Finance, Tata Motors, several other shares now?
Share Market News, Brokerage Views: As the Nifty50 holds the psychologically important 25,000 mark, here are a bunch of stocks that brokerages have on their watchlists.
ZeeBiz WebTeam | Aug 28, 2024, 01:28 PM IST
Share Market News, Brokerage Views, Targets: As the Nifty50 holds the psychologically important 25,000 mark, here are a bunch of stocks that brokerages have on their watchlists.
Check out their ratings and views on some of the buzzing stocks on Dalal Street and note down their targets.
1/22
Latest Brokerage Views | How UBS views telecom space
The brokerage has maintained a 'neutral' rating on Bharti Airtel and a 'buy' on Vodafone India as a play on potential government relief measures.
It also has a 'neutral' call on Indus Towers.
The brokerage has maintained a 'neutral' rating on Bharti Airtel and a 'buy' on Vodafone India as a play on potential government relief measures.
It also has a 'neutral' call on Indus Towers.
2/22
Latest Brokerage Views | What HSBC thinks of HDFC Life
The brokerage has maintained a 'buy' rating on HDFC Life with a target price of Rs 800 per share, which implies an upside of 8.2 per cent from Tuesday's closing price. Investors appear to be mostly interested in the company's growth outlook given a slowdown in deposits and margins, and the impact of regulations, according to HSBC.
The private sector life insurer's management has reiterated its focus on doubling its value of new business (VNB) four years while balancing its growth and margins, according to the brokerage.
3/22
Latest Brokerage Views | Citi maintains 'buy' on L&T Finance
The brokerage has kept its target of Rs 221 per share while maintaining its 'buy' rating for the NBFC.
According to Citi, the incidence of industry-wide stress across microfinance institutions is set to dissipate by H2FY25.
4/22
Latest Brokerage Views | Zydus Lifesciences
Jefferies has double-upgraded Zydus Lifesciences to 'buy' from 'hold' and revised its target for the pharma stock to Rs 1,450 from Rs 1,210. The brokerage is of the view that the recent correction offers a buying opportunity in the stock.
However, it has also said that the company's high reliance on the US makes it a high-risk, high-reward call due to the nature of the nature of the generics industry in that market.
5/22
HSBC raises Coforge target by Rs 400
The brokerage has raised its target price to Rs 6,900 from Rs 6,500 while maintaining its 'buy' call for Coforge.
As of August 27, its target suggests a 13.7 per cent upside in the IT stock.
6/22
Brokerage Views | KPIT Tech has significantly outperformed sector in past few years, says HSBC
HSBC has revised its rating for KPIT Technologies to 'hold' from 'buy' and reduced its target for the stock to Rs 2,000 from Rs 2,160.
7/22
Brokerage Views | NMDC is JPMorgan's preferred pick in iron ore space
According to the brokerage:
August iron ore export volumes could be the lowest since December 2022
At 48MT, FY24 total exports could be a peak
Exports as a percentage of production could start declining over the coming years
This should happen due to softness in iron ore prices, strong Indian steel consumption and the potential implementation of iron ore beneficiation policy by the government
Weak production volumes from NMDC suggest downside risks to ambitious production targets
August iron ore export volumes could be the lowest since December 2022
At 48MT, FY24 total exports could be a peak
Exports as a percentage of production could start declining over the coming years
This should happen due to softness in iron ore prices, strong Indian steel consumption and the potential implementation of iron ore beneficiation policy by the government
Weak production volumes from NMDC suggest downside risks to ambitious production targets
8/22
Brokerage Views | HSBC maintains 'buy' on Persistent Systems
While maintaining its 'buy' rating, HSBC has revised its target for Persistent Systems shares to Rs 5,475 per share from Rs 4,790 per share. According to the brokerage, Persistent will continue to grow strongly in double-digits and outperform peers.
9/22
Brokerage Views | Mphasis
While maintaining its 'hold' rating, HSBC has revised its target for Mphasis to Rs 2,900 from Rs 2,725.
10/22
Brokerage Views | HUL
Macquarie has retained its 'outperform' rating for HUL with a revised target of Rs 3,100 instead of the Rs 3,000 earlier.
11/22
Brokerage Views | Indian Oil Corp
The brokerage has continued with its 'buy' rating and raised its target for the oil marketing PSU to Rs 200 from Rs 180.
12/22
Brokerage Views | Emcure Pharma
Jefferies has added Emcure Pharmaceuticals to its coverage universe with a 'buy' rating of and a target of Rs 1,600.
13/22
Brokerage Views | Morgan Stanley prefers Godrej Properties and Nexus in real estate basket
Morgan Stanley has mentioned that investors' interest has waned in the real estate space despite the overall outperformance of the stocks to the market on a year-to-date basis.
Investors are instead looking at smaller developers like Century Textiles and Sobha to benefit from cheaper valuations and higher sales growth prospects, according to Morgan Stanley.
14/22
Brokerage Views | Morgan Stanley on chemicals
Potash prices are yet to react to potentially tighter supply dynamics, according to the brokerage.
Last week, urea prices largely retreated across key regions.
15/22
Brokerage Views | BofA Securities on pharmaceuticals
In the June quarter, the pharmaceutical sector's revenue exceeded estimates, thanks to strong performance in India, but the the US generic segment was lumpy, according to the brokerage. Favourable raw material pricing coupled with lower research & development spending aided the companies' margins, it noted.
16/22
Brokerage Views | BofA Securities on pharmaceuticals
According to the brokerage, the earnings visibility in an uncertain global macroeconomic environment benefits the pharma sector given its positive near-term fundamentals.
17/22
JPMorgan initiates coverage on Indegene
JPMorgan has brought the recently-listed Indegene stock to its coverage universe with a 'neutral' rating and a target of Rs 570 per share, citing attractive secular growth potential from under-penetrated outsourcing.
The company has a strong process expertise and a robust track record in scaling its top clients, according to the brokerage.
18/22
Brokerage Views | DMart remains a long-term cost-leader in Indian retail space, says CLSA
The brokerage has maintained an 'outperform' rating on DMart hypermarket chain operator Avenue Supermarts with a revised target price of Rs 5,650 instead of the Rs 5,535 earlier.
19/22
How HSBC views the IT space on D-Street
Cautioning investors against the rise in the IT stocks, especially those from the mid-tier band, HSBC has said that most incremental growth in mid-tier IT companies is coming from margin dilutive 'cost-rationalisation' deals.
Mid-tier average valuations are now at a 50 per cent premium to top-tier companies as against 35 per cent in the past five years, according to the brokerage.
20/22
Brokerage Views | JPMorgan raises ONGC target price by Rs 26
The brokerage has maintained a 'neutral' rating for ONGC with a revised target price of Rs 306 per share instead of the Rs 280 per share earlier. At the closing price of Aguust 27, the target implies a downside of 6.9 per cent in the PSU stock. | ALSO READ: ONGC opens new well in Krishna Godavari basin
21/22
Brokerage Views | How JPMorgan views Tata Motors
JLR's operations could face some near-term headwinds due to supply challenges, according to the brokerage, which has maintained its 'overweight' call on Tata Motors with a target of Rs 1,250.
JPMorgan’s monthly sales tracker suggests that JLR's retail sales declined one per cent in July 2024.
At Tuesday's closing price, the target implies an upside of 16 per cent in the Tata group stock.
22/22
Brokerage Views | HSBC prefers LTTS to KPIT Tech & Cyient
The brokerage has maintained its 'hold' rating on LTTS and raised its target price for the stock to Rs 5,560 from Rs 4,905.