Hot Stocks: Brokerage view on RIL, Pidilite, Titan, UltraTech Cement and Ramco Cement
RIL, Citi downgraded Pidilite Industries to sell, Nomura downgraded UltraTech Cement to neutral, and Investec initiated a buy rating on Indian Bank. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on RIL: Overweight| Target Rs 3210 Morgan Stanley maintained an overweight rating on RIL with a target price of Rs 3210. Starting to monetize multiple investments, simultaneously still deploying capital in new areas. The narrative will shift from earnings positively to an upgrade cycle.
The net debt is nearing its peak and closer to EBITDA run rate. The global investment bank sees multiple positive catalysts ahead.Citi on Consumer sector: Pidilite, Titan Company Citi downgraded Pidilite Industries to sell from a buy earlier and slashed its target price to Rs 2220 from Rs 2880 earlier. Current valuations factor in the margin expansion benefit.
The global investment bank also downgraded Titan Company to neutral from buy earlier with a target price of Rs 3280. The global investment bank sees limited upside potential. In the consumer space, Citi prefers Devyani followed by Jubilant on demand improvement.
Page Industries is the top sell as the global investment bank sees downside risk to consensus estimates for Q1.Nomura on Cement: UltraTech Cement, Ambuja and ACC Nomura downgraded UltraTech Cement to neutral from a buy earlier but hiked the target price to Rs 8880 from Rs 8000 earlier. It maintained a neutral rating on Ambuja and raised the target price to Rs 410 from Rs 360 earlier.Shree Cement was downgraded to reduce from neutral and the target price was slashed to Rs 20400 from Rs 22500 earlier. The global initiated a buy on Dalmia Bharat, Nuvoco Vistas, and Ramco
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