We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Motilal Oswal on Tata Motors: Buy| Target Rs 540
Motilal Oswal maintained its buy rating on Tata Motors with a target price of Rs 540. JLR’s luxury premium positioning was largely achieved, and the supplies are also improving gradually. The demand environment remains robust.
The company is focusing on driving double-digit EBIT margin by FY26. India PV business is expected to achieve 5-7% industry growth in FY24.
Axis Securities on Shriram Finance: Buy| Target Rs 1600
Axis Securities maintained its buy rating on Shriram Finance with a target price of Rs 1600. Challenges are largely behind, and the housing vertical is likely to be value accretive, said the brokerage.
“The stock price has seen a lackluster performance over the last 5 years. The current valuation at 0.9x is now below 1 standard deviation. Q3 trends indicate that the growth is picking up. The AUM growth is strong, driven by healthy disbursements,” it said.
Nomura on Nykaa: Buy| Target Rs 214
Nomura maintained a buy rating on Nykaa with a target price of Rs 214. Low ticket premium consumption is likely to continue its heathy growth, it said.Consumption in India is going through a slowdown given low penetration rate of beauty products and low ticket size, according to Nomura.
JPMorgan on Jubilant FoodWorks: Neutral| Target Rs 485
JPMorgan maintained a neutral rating on Jubilant FoodWorks with a target price of Rs 485. Dominos weakness poses downside risk to the earnings, it said.
Jubilant FoodWorks announced that they will aim to operate 50 Popeyes restaurants by FY24. Popeyes offers good MT- LT opportunities for Jubilant Food, according to JP Morgan.
CLSA on Ashok Leyland: Buy| Target Rs 189
CLSA maintained a buy rating on Ashok Leyland with a target price of Rs 189. A strong demand environment and improving margins keep us constructive on the stock, it said.
“There are multiple tailwinds to drive CV sales over the next two years. Price hikes will likely have a limited impact on volumes but improve margins. Ashok Leyland will likely hold on to recent market share gains in the heavy truck segment,” said CLSA.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)