We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Nuvama on MGL: Buy| Target Rs 1,601
Nuvama maintained a buy rating on Mahanagar Gas (MGL) with a target price of Rs 1,601. The brokerage firm sees a 15% knee-jerk dip in the stock as an ideal buying opportunity.
Rs 2.5/kg price cut to drive volumes besides normalised margins. The company has a monopoly in pipeline distribution to continue in perpetuity. Low penetration in Gas implies scope for growth.
CLSA on Syrma SGS Technology: Buy| Target Rs 645
CLSA initiated coverage on Syrma SGS Technology with a buy rating and a target price of Rs 645. The company is a leading diversified EMS player.
The global investment bank sees several levers for strong growth. It expects FY23-26 and medium-term top-line CAGR of 38% and 18% respectively. Margins and return trajectory are key factors to watch.
CLSA on India Consumer: Jubilant FoodWorks, Devyani
CLSA maintained a sell rating on Jubilant FoodWorks but slashed the target price to Rs 439 from Rs 452 earlier.It recommended an outperform rating on Devyani International but cut the target price to Rs 177 from Rs 182 earlier.CLSA recommended a buy rating on Restaurants Brands Asia with a target price of Rs 752 and for Westlife Foodworld, the global investment bank recommended a sell with a target price of Rs 752.
For the QSR industry, the competition has now moved beyond metros. “Our online checks suggest intense non-metro competition,” said the note.
Competition might not necessarily be on the price point. There are emerging chains coming up in pizzas and to a smaller extent in burgers. Domino’s competition to stay elevated.
UBS on BEL: Buy| Target Rs 257
UBS maintained a buy rating on BEL but raised the target price to Rs 257 from Rs 205 earlier. The company has seen a significant order book accretion underway.
FY24E marks a shift in annual order inflow and the pipeline adds to growth comfort. Positive strength in BEL order book accretion. Order book and earnings are looking up.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
