Hot Stocks: Brokerage view on Vedanta, Kotak Mahindra Bank, JSW Steel and ICICI Bank
Vedanta and a buy rating on Kotak Mahindra Bank post its June quarter results. CLSA maintained a sell rating on JSW Steel and a buy rating on ICICI Bank post results.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Investec on Vedanta: Sell | Target Rs 180 Investec maintained a sell rating on Vedanta with a target price of Rs 180. Q1 EBITDA numbers were below estimates and the debt continues to swell.
The brokerage firm sees risks of Vedanta's cash flow mismatch forcing the company to divest assets. The company’s foray into semiconductors is surprising considering its current cash flow profile.Investec on Kotak Mahindra Bank: Buy| Target Rs 2300 Investec maintained a buy rating on Kotak Mahindra Bank with a target of Rs 2300. Liabilities momentum has improved and the net interest margins (NIMs) are likely to remain elevated.
The asset quality remains best in class, and the brokerage firm believes that the bank's NIMs should stabilise above 5%.CLSA on JSW Steel: Sell| Target Rs 695 CLSA maintained a sell rating on JSW Steel with a target price of Rs 695. The Q1 EBITDA figures were ahead of the estimate. In terms of guidance, profitability is likely to remain range bound.
The leverage has risen, and the strong growth outlook is primarily priced in. CLSA on ICICI Bank: Buy| Target Rs 1225 CLSA maintained a buy rating on ICICI Bank with a target of Rs 1225 post-Q1 results. The growth remains strong, and the commentary is confident. The net interest margin (NIM) moderation was in line.
The deposit accretion has picked up pace. Core PPOP was up 37% on a YoY basis and the bank will invest in growth in FY24. The global investment bank sees the highest earnings certainty over the
. Read more on economictimes.indiatimes.com
