Hot Stocks: Brokerage view on UltraTech Cement, Ambuja, L&T and Maruti Suzuki
UltraTech Cement and Ambuja. Jefferies maintained a buy rating on L&T and CLSA recommended a Sell on Maruti Suzuki.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Macquarie on Cement: UltraTech Cement and Ambuja Cements
Macquarie maintained an outperform rating on UltraTech Cement but raised the target price to Rs 9250 from Rs 9087.
The global brokerage firm recommends outperform rating on Ambuja Cements but slashed the target price to Rs 480 from Rs 506 earlier.
Macquarie maintained a neutral rating on Shree Cement but slashed the target price to Rs 25,149 from Rs 25,236 earlier.
The global investment bank remained neutral on ACC but raised the target to Rs 2128 from Rs 1998 earlier.
It recommends a neutral rating on Ramco Cement but raised the target to Rs 955 from Rs 865 earlier.
Rising capacity concentration and a healthy demand outlook make the cement sector attractive. The global investment bank remained constructive on the cement stocks.
Solid demand growth bodes well for earnings.
Cost moderation should aid margin recovery. “Industry consolidation lends support to our medium-term constructive outlook,” said the note.
Dalmia Bharat has an outperform rating, but the global investment bank raised the target price to Rs 2658 from Rs 2441 earlier.
Jefferies on L&T: Buy| Target Rs 3050
Jefferies maintained a buy rating on L&T with a target price of Rs 3050.
H1 should see order flow traction as elections drive front-ended FY24E order flow.
H2 should benefit from margin recovery as project execution of those won in an inflated commodity price environment pick-up.
Buyback shows confidence in future cash flow strength. The company still stands out on
