Hot Stocks: Brokerages on ITC, Info Edge, RIL and Titan Company
ITC, Macquarie retained an underperform rating on Info Edge, CLSA maintained a buy on Reliance Industries, and an outperform rating on Titan Company.We have collated a list of recommendations of top brokerage firms from ET NOW and other sources:HSBC on ITC: Hold| Target Rs 450HSBC maintained a hold rating on ITC but hiked the 12-month target price to Rs 450 from Rs 400 earlier. ITC's core appeal lies in yield and growth. The cigarette business has an attractive dividend yield, but structural earnings growth is likely to be modest.
'FMCG-Others' continues to impress with structurally attractive growth, but this now appears priced in. The share price is up significantly in the past year, which limits further upside potential.Macquarie on Info Edge: Underperform| Target Rs 3100Macquarie maintained an underperform rating on Info Edge but raised the 12-month target price to Rs 3100 from Rs 3000 earlier. The recruitment profitability is near peak, and the growth is likely to moderate.
Other verticals have a long road to profitability. Write-offs in investee companies' portfolios.CLSA on Reliance Industries: Buy| Target Rs 3060CLSA maintained a buy rating on Reliance Industries with a 12-month target price of Rs 3060. Jio Financial Services (JFS) has liquid assets worth Rs 20,700 crore.
Looking at peer NBFCs, this can support a loan book of $13-15 billion. JFS will take nearly three years to fully use up this loan book amount. CLSA's India focus portfolio will exit JFS at the first 30 minutes weighted average price since they prefer banks.CLSA on Titan Company: Outperform| Target Rs 3270CLSA maintained an outperform rating on Titan Company with a 12-month target price of Rs 3270.
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