Brokerage activity remained strong on Tuesday with fresh initiations and rating actions across consumer, insurance, oil & gas, autos, and pharma sectors. Here are the key highlights from fund house recommendations:
Bernstein on Titan: Initiated coverage with an outperform rating and a target price of ₹4,200 per share, citing strong growth prospects in the jewellery business. (Positive)
Bernstein on Paytm: Maintained an outperform rating with a target of ₹1,200 per share, reflecting confidence in the company’s digital ecosystem expansion. (Positive)
CLSA on DMart: Maintained outperform with a target price of ₹6,408, expecting steady earnings momentum in retail operations. (Positive)
Morgan Stanley on insurance & finance:
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HDFC Life: Maintained overweight and raised target to ₹890.
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SBI Life: Maintained overweight and raised target to ₹2,250.
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Aditya Birla Capital (AB Cap): Maintained overweight, raising target to ₹330.
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ICICI Lombard: Maintained equal weight, raising target to ₹1,910.
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HDFC AMC: Maintained equal weight, raising target to ₹5,415.
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Aavas Financiers: Maintained equal weight but cut target price to ₹1,750.
(Overall Positive to Neutral)
Jefferies on oil marketing companies:
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BPCL: Maintained buy, target price at ₹410.
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IOC: Maintained buy, target price at ₹160. (Positive)
Citi on Hyundai Motor India: Maintained buy with a target of ₹2,400, citing strong order book and product launches. (Positive)
UBS on Reliance Industries: Maintained buy with a target price of ₹1,750, noting strong cash flows and growth visibility. (Positive)
BofA Securities on Reliance Industries: Maintained buy with a target of ₹1,660, but also issued another view with an underperform stance and higher target of ₹2,800, indicating divergence in outlook. (Mixed)
Nomura on auto sector: Reported improvement in August month-to-date trends for tractors, two-wheelers, and trucks, but noted consumer deferment of purchases ahead of a potential GST cut. Preferred picks include Mahindra & Mahindra and TVS Motor, followed by Maruti Suzuki and Eicher Motors. (Positive)
HSBC on India strategy: Said India remains the most expensive among emerging markets, but valuations are justified given earnings strength. (Neutral)
Jefferies on HPCL: Maintained buy but cut target to ₹340. (Neutral)
Investec on Zydus Lifesciences: Maintained sell with a target price of ₹940, citing valuation concerns. (Neutral to Negative)
JP Morgan on Anthem Bio: Initiated coverage with a neutral rating and a target of ₹820. (Neutral)
Disclaimer: This article is based on brokerage recommendations and is for informational purposes only. It is not investment advice.
