Hot stocks: Brokerage view on Kotak Mahindra Bank, HDFC Bank and PVR Inox
Kotak Bank, while Goldman Sachs and Jefferies have a buy rating on HDFC Bank. Investec has maintained a sell call on PVR Inox.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Nuvama on Kotak Mahindra Bank: Reduce | Target price: Rs 1,650
Nuvama has maintained a reduce call on Kotak Bank with a target price at Rs 1,650.
The bank witnessed a sharp decline in NIM due to higher CoF and lower share of unsecured loans while the PAT expanded 51% QoQ due to exceptional post-tax gain. The bank is working hard to correct gaps pointed by RBI and the CEO maintains a target of growing unsecured loans to mid-teens in due course.
Goldman Sachs on HDFC Bank: Buy | Target price: Rs 1,961
Goldman Sachs has maintained a buy rating on HDFC Bank and hiked the target price to Rs 1,961 from Rs 1,927.
The global brokerage firm said that they saw earnings visibility improving and asset quality remained pristine with GNPA % and slippage ratio % was better than estimated. The stock is expected to rebound from the lows of c2.6% core PPOP ROA in FY24 to 2.9% in FY26E.
Investec on PVR Inox: Sell | Target price: Rs 1,273
Investec maintained a sell view on the stock with a target price of Rs 1,273.
The start of the year has been challenging and with Q2 having a high base, they expect H1FY25 weakness to result in further consensus downgrades and content weakness continues in Q2.
Jefferies on HDFC Bank: Buy | Target prices: Rs 1,890
Jefferies maintained a buy call on HDFC Bank and hiked
