Hot stocks: Brokerage take on L&T Finance, Bajaj Finance, Gujarat Gas, Sun Pharma, and others
Bajaj Finance, Citi has initiated coverage on Indegene and maintained a sell rating on Gujarat Gas, Jefferies has maintained a buy rating on Sun Pharma, and Kotak Securities has upgraded Lupin to add from sell.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
UBS on L&T Finance: Buy | Target price: Rs 230
UBS maintained a buy rating on L&T Finance with a target price of Rs 230
L&T Finance’s Q1FY25 business update of retail disbursements and AUM were up 33% and 31% YoY respectively, both in line with UBS’ expectations. Microfinance (+28% YoY) and urban retail disbursements (+44% YoY) remained strong, but SME was weak.
JPMorgan on Bajaj Finance: Overweight | Target price: Rs 8,500
JPMorgan maintained an overweight rating on Bajaj Finance with a target price of Rs 8,500.
Growth accelerates after the lifting of the RBI ban. Customer additions stood at 44.7 lakh, which was the highest ever, placing the company in favorable stead to beat its full year's guidance of 1.2-1.4 crore. Q1 operating metrics are likely to continue to stand out among large-cap financials.
Citi on Indegene: Sell | Target price: Rs 510
Citi has initiated coverage on Indegene with a target price of Rs 510.
Citi expects the company to benefit from accelerated digitalization of the life sciences industry. The global brokerage firm is constructive on the business and like the strong management team underpinned by robust domain expertise. Current valuations appear to be pricing in the positives.
