We have collated a list of recommendations from top global brokerage firms from ETNow:
CLSA on Gail India: Buy| Target Rs 180| Upside 28%
CLSA maintained its Buy rating on GAIL India with a target price of Rs 180 which translates into an upside of over 28 per cent from Rs 140 recorded on 4 August.
“Gas trading drove a 22 per cent PAT beat. The company recorded high gas trading profits. However, the Petrochemical and gas transmission sectors were disappointed,” it said.
The global investment bank slashed the target price but still retained its buy rating.
Morgan Stanley on Dalmia Bharat: Overweight| Target Rs 1,700| Upside 9%
Morgan Stanley maintained its overweight rating on Dalmia Bharat with a target price of Rs 1,561 which translates into an upside of nearly 9 per cent from Rs 1561 recorded on 4 August.
“The company recorded a strong beat on margins led by costs. Volumes were slightly lower. The cement major recorded a strong performance on variable costs,” it said in a note.
BofA Securities on LIC Housing: Buy| Target Rs 455| Upside 22%
BofA Securities maintained its Buy rating on
with a target price of Rs 455 which translates into an upside of over 22 per cent from Rs 372 recorded on 4 August.
The operating performance was largely in-line with estimates, it said, adding that the global investment bank retained buy on growth tailwinds. “The asset quality normalization offsets our concerns around under-provisioning.”
CLSA on Britannia Industries: Underweight| Target Rs 3,790
CLSA maintained its underweight rating on Britannia Industries with a target price of Rs 3,790 which translates into a rise of 0.3 per cent from Rs 3,777 recorded on 4 August.
The FMCG major missed expectations on sales with negative volume growth and the promising outlook is already priced in, it said, adding that inflation continues to hurt the bakery industry.
CLSA on Lupin: Underweight| Target Rs 670
CLSA maintained its underweight rating on Lupin with a target price of Rs 670 which translates into a rise of 1.5 per cent from Rs 660 recorded on 4 August.
The company has a patchy track record. 1QFY23 results were much weaker than expected, it said. Key markets in India and US undershot our expectations, said the note.
There is limited upside even after building in all catalysts, it added.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)