Brokerages have provided key updates across sectors, highlighting positive trends in IT, auto, real estate, industrials, and infrastructure stocks. Here’s a detailed summary of the latest recommendations:
IT Sector
- Macquarie on TCS: Maintains an Outperform rating with a target price of ₹5,710, citing a positive outlook for the company’s growth trajectory.
- Macquarie on HCL Tech: Reiterates Outperform with a target price of ₹2,020, reflecting confidence in the company’s performance in the technology services space.
- Macquarie on Persistent Systems: Maintains Outperform with a target price of ₹6,759, emphasizing its strong positioning in digital transformation services.
Cement Sector
- Citi on Ultratech Cement: Maintains a Buy rating with a target price of ₹12,500. The brokerage remains optimistic about Ultratech’s market leadership and capacity expansion plans.
Logistics Sector
- Equirus on Transport Corporation of India (TCI): Reiterates Buy with a target price of ₹1,395, supported by robust growth in the logistics and supply chain business.
Industrials
- Goldman Sachs on Industrial Stocks: Highlights that 62% of the government’s estimated incentives were disbursed under the PLI scheme in FY24. The scheme is expected to generate $150 billion in incremental sales and $48 billion in exports, signaling strong prospects for the sector.
Automobile Sector
- Goldman Sachs on Auto Stocks: Notes Bajaj Auto’s emergence as the electric two-wheeler (E2W) market leader with a 25% market share. New launches, such as the Chetak, are expected to further boost volumes. Additionally, Mahindra & Mahindra gained 160 basis points in light commercial vehicle (LCV) market share year-on-year.
- Emkay on Auto Stocks: Observes a steep 24% correction in two-wheeler stocks, with Hero MotoCorp and Bajaj Auto witnessing the steepest declines (33% and 30%, respectively). Emkay considers this correction unwarranted and maintains a positive stance.
Real Estate
- Antique on Real Estate: Highlights AB Real Estate and Oberoi Realty as top picks, reflecting the brokerage’s positive outlook for the real estate sector.
Chemicals
- HSBC on Tata Chemicals: Maintains a Reduce rating with a target price of ₹820, citing a neutral stance on the company due to regulatory or growth concerns.
Infrastructure
- Nuvama on Ashoka Buildcon: Maintains a Reduce rating with a target price of ₹294, reflecting a cautious view on the company’s near-term performance.
Financials
- Macquarie on Financials: Warns of potential regulatory changes in 2025, especially regarding top-up loans, which could significantly impact NBFCs. Maintains a neutral outlook on the sector.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Please consult a qualified financial advisor before making investment decisions.
