Hot Stocks: Brokerage view on Indiabulls Housing, Grasim, Ashok Leyland and M&M
economictimes.indiatimes.comIndiabulls Housing Finance and an overweight rating on Grasim. BNP Paribas has a buy rating on Ashok Leyland and M&M.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on Indiabulls Housing: Buy| Target Rs 103
Morgan Stanley maintained a buy rating on Indiabulls Housing with a target price of Rs 103.
The Q2 results were in-line with estimates.
The PPOP beat was 43% on higher total income led by higher assignment income and lower operating costs.
The net profit was in line as higher PPOP was offset by higher credit costs of 1.6% and a higher effective tax rate.
Morgan Stanley on Grasim Industries: Overweight| Target Rs 1985
Morgan Stanley maintained an overweight rating on Grasim Industries with a target price of Rs 1985.
The Q2 standalone EBITDA was below estimate and consensus. Weakness was led by the chemicals business which was partially offset by the viscose business.
Paint business launch timelines are on track, and the B2B e-commerce business is now expanding.
BNP Paribas on Ashok Leyland: Buy| Target Rs 220
BNP Paribas has a buy rating on Ashok Leyland with a target price of Rs 220.
The management expects strong demand to continue in 2H, driven by solid government infrastructure spending, industrial activities and agricultural growth.
Ashok Leyland retained its FY24 volume growth guidance at 8-10% YoY for MHCV and 4-5% for LCV. Defence pipeline remained strong, with FY24 revenue guidance at Rs 8 bn.
“We gain further comfort on management’s higher margin target and raise our FY24-26E margins.
