Hot stocks: Brokerage views on HCL Tech, RIL, HDFC Bank and Maruti Suzuki

economictimes.indiatimes.com:

HCL Tech and RIL, while Jefferies has maintained its buy rating on HDFC Bank. HSBC also has a buy view on Maruti Suzuki, whereas Investec has retained its sell rating on HCL Tech.

We have compiled a list of recommendations from top brokerage firms from ET Now and other sources:

Nuvama on HCL Tech: Buy | Target Price: Rs 2,125

Nuvama has maintained a buy rating on HCL Tech and raised the target price to Rs 2,125 from Rs 2,020. HCL Tech reported a strong Q2 FY25, beating estimates with broad-based growth across verticals. The company has upgraded its revenue guidance but maintained its margins guidance. A valuation premium is likely to sustain due to higher growth and capital allocation.

Jefferies on HDFC Bank: Buy | Target Price: Rs 1,890

Jefferies has maintained its buy rating on HDFC Bank with a target price of Rs 1,890. The bank aims to lower its loan-to-deposit ratio (LDR) to 85-90% within three years and anticipates a deposit CAGR of 15%, with a slowing loan CAGR of 11%. Branch ramp-up will help gain market share in deposits, while loan growth is expected to remain at or below sector levels. There is potential to lower funding costs, which could lift net interest margins (NIM). PSL compliance is unlikely to significantly impact profits, but slower growth in unsecured loans may help keep credit costs in check. Jefferies has trimmed its estimates by 4-6% to account for slower loan growth.

Nuvama on RIL: Buy | Target Price: Rs 3,650

Nuvama has maintained a buy rating on RIL with a target price of Rs