Hot Stocks: Brokerage view on Kotak Bank, SBI Cards, GAIL India and Embassy Office Parks
Kotak Mahindra Bank with a target price of Rs 2,050, while Morgan Stanley recommended an Equal Weight on SBI Cards, JPMorgan has a neutral rating on GAIL India and BofA maintained a buy rating on Embassy Office Parks Ltd.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on Kotak Bank: Hold | Target: Rs 2,050
Jefferies maintained a hold rating on Kotak Mahindra Bank with a target price of Rs 2,050. Zurich Insurance will now buy a 70% stake in Kotak General Insurance in a single tranche. Earlier, it was to acquire 51% initially and 19% within 3 years. The business is small — 0.5% premium market share, 0.3% of the net worth. The value of the business is unchanged at Rs 79 billion (post-money).
Morgan Stanley on SBI Cards: Equal Weight | Target: Rs 750
Morgan Stanley maintained an Equal Weight rating on SBI Cards with a target price of Rs 750. Number of credit cards in force: SBIC's market share at 18.7% (-96 bps YoY, -17 bps MoM).
Monthly credit card spending — SBIC's market share rose MoM, to 18.4% for January (17.7% in December). Momentum in YoY growth is lower in Feb- 24 so far.
JPMorgan on GAIL India: Neutral| Target Rs 175
JPMorgan maintained a neutral rating on GAIL India with a target price of Rs 175. The global investment bank has placed GAIL on a positive catalyst watch. GAIL's trading segment is likely to report strong earnings on March 24. On the contrary, consensus full-year FY24 forecasts for GAIL imply a 14% QoQ decline in profits in Q4.
