Hot Stocks: Brokerage view on Tata Steel, RR Kabel, RIL; Axis Capital upgrades Indigo
Citigroup maintained a buy rating on RR Kabel, JPMorgan has an overweight stance on RIL, Axis Capital upgraded Indigo to buy and Jefferies maintained a buy rating on Tata Steel.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Citigroup on RR Kabel: Buy| Target Rs 2043
Citigroup maintained a buy rating on RR Kabel post Q4 results and raised the target price to Rs 2043 from Rs 1728 earlier.
The Q4 numbers were broadly in line with estimates. The company continues to experience strong industry demand growth tailwinds.
The global investment bank sees revenue growth of 18-20% over the medium-term and EPS CAGR of 27% over FY24-26.
JPMorgan on RIL: Overweight| Target Rs 3100
JPMorgan maintained an overweight stance on RIL with a target price of Rs 3100. First of RILs New Energy Giga-factories should start in 2024.
RIL aims to use large captive H2 demand as an anchor to set up scale electrolyser/solar capacities.
This could drive costs down and make BESS solar, Green H2 or Fuel Cells commercially viable over time.
New Energy EBITDA might be small in the near term. RIL's updates on progress could create a large new Option Value for the stock.
Axis Capital on Indigo: Buy| Target Rs 4700
Axis Capital upgraded Indigo to buy from Add earlier but raised the target price to Rs 4700 from 4100 earlier.
The domestic brokerage firm upgrades Indigo to buy on benign competition and ATF prices. The supply shortages to keep airfares elevated.
ATF prices have remained benign,
