BSE Ltd. Emkay upgraded LIC to buy, and CLSA maintained a buy on Ashok Leyland and on Eicher Motors.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Investec on BSE: Buy| Target Rs 2345
Investec maintained a buy rating on BSE and raised the target price to Rs 2345 from Rs 2140 earlier.
The company reported an earnings beat on the core business.
The market share in options continues to increase.
An increase in the premium to notional ratio is key for profitability. The quality of market share is critical for profitability.
Emkay on LIC: Buy| Target Rs 760
Emkay upgraded LIC to buy from hold earlier post results and raised the target price to Rs 760 from Rs 680 earlier.
Weaker growth and sticky OpEx cloud the long-term outlook.
Undemanding valuation and structural issues are priced-in.
The global investment bank believes higher surplus generation and slower growth could lead to a step jump in dividends, as solvency is healthy.
CLSA on Asok Leyland: Buy| Target Rs 238
CLSA maintained a buy rating on Ashok Leyland post Q2 results but slashed the target price to Rs 238 from Rs 239 earlier.
Q2 was significantly below estimate led by lower-than-expected realisations and a higher tax rate.
The CV demand is robust and tonnage growth in trucks is higher than volume growth. The global investment bank expects H2 Ebitda margin to improve from H1 and growth to also be better.
CLSA on Eicher Motors: Buy| Target Rs 4252
CLSA maintained a buy rating on Eicher Motors post Q2 results and raised the target price to Rs 4252 from Rs 4158 earlier.
Royal Enfield beats expectations.