Brokerages have released a fresh set of recommendations across cement, gold financiers, consumer, pharma, and technology sectors. The tone remains largely positive with selective neutral calls as markets step into the new month.
CLSA reiterated its positive stance on the cement sector, maintaining an Outperform rating on Ultratech Cement with a target price of ₹14,700 per share. The brokerage also stayed bullish on gold loan financiers, raising its target price on Muthoot Finance to ₹3,600 and on Manappuram Finance to ₹310, while retaining an Outperform rating on both.
In the electronics and manufacturing space, Dixon Technologies continues to attract confidence. JP Morgan maintained an Overweight rating with a target price of ₹19,500, while Jefferies highlighted Dixon’s plans to expand into camera and display modules under the government’s components scheme. The note also mentioned Amber Enterprises and Syrma SGS as applicants for PCB manufacturing incentives.
Among financials, Morgan Stanley maintained its Overweight call on Shriram Finance with a target price of ₹785, reflecting continued optimism on the company’s loan growth and earnings profile.
In pharmaceuticals, Sun Pharma remained in focus as Citi reiterated its Buy rating with a target price of ₹2,180 per share.
On the broader consumer sector, Jefferies took a constructive view, noting fresh capacity expansion and applications for government-backed schemes, while Morgan Stanley suggested that early festivities could benefit urban consumption in Q3.
Neutral stances were seen in select pockets. JP Morgan maintained an Overweight on KPIT Technologies but cut its target price to ₹1,400, while Jefferies kept a Buy on CMS Info Systems but lowered its target to ₹445. CLSA retained its Underperform rating on Nazara Technologies with a target of ₹166, citing valuation concerns, while UBS maintained a Neutral rating on Vikram Solar with a target of ₹355.
Overall, brokerages remain constructive on cement, gold financiers, consumer electronics, and select pharma names, while being more cautious on certain technology and renewable energy stocks.
Disclaimer: The brokerage views mentioned are those of the respective firms. This article is for informational purposes only and does not constitute investment advice. Readers should consult a financial advisor before making any investment decisions.