Hot stocks: Brokerage take on HDFC Bank, RBL Bank, L&T and Ramco Cements
HDFC Bank, Morgan Stanley has an underweight rating on RBL Bank, Goldman Sachs has a buy call on L&T, and Antique has downgraded Ramco Cements.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JPMorgan on HDFC Bank: Overweight | Target price: Rs 1,800
JPMorgan has maintained an overweight call on HDFC Bank with a target price of Rs 1,800 stating that the slowing down of the bank is likely to speed up. Period-end deposit balances were flat QoQ while the loan mix continued to shift towards retail and CRB.
Morgan Stanley on RBL Bank: Underweight | Target price: Rs 250
Morgan Stanley has maintained an underweight rating on RBL Bank with a target price of Rs 250 after the 1QF25 initial update, which has shown healthy volume growth.
Gross loan growth was healthy at +3.3% QoQ, vs. 4.6% in the prior quarter while the deposits declined 2% QoQ, after 11.6% QoQ growth in the previous quarter. The bank’s liquidity was strong.
Goldman Sachs on L&T: Buy | Target price: Rs 3,700
Goldman Sachs has maintained a buy view on L&T while raising the target price to Rs 3,700 from Rs 3,500.
Despite a severe summer and election-related execution challenges, Goldman Sachs expects core revenue to grow at 13%. A strong international order book is likely to aid growth, while core margins show slight improvement. The global brokerage states that all eyes will now be on the budget and the government's 100-day plan which should provide better visibility.
Antique on Ramco Cements: Hold |
