Hot Stocks: Brokerages on Vedant Fashion, Nazara Technologies, Piramal Enterprises and Zee Entertainment
Vedant Fashion, Jefferies has a hold rating on Nazara Technologies, CLSA maintained a buy on Zee Entertainment and Jefferies maintained an underperform rating on Piramal Enterprises.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on Vedant Fashion: Overweight| Target Rs 1418
Morgan Stanley maintained an overweight rating on Vedant Fashion at a target price of Rs 1418. The global investment bank believes that the share price will rise relative to the country index over the next 60 days.
The global investment bank expects the company to deliver strong H2 top-line growth, aided by a higher number of wedding dates and festive season.
The management has seen good traction in sales, footfalls, and conversions during the Navratri period.
Analysis of credit card spend also indicates that festive spending is strong.
Improving top-line growth momentum will also drive an improvement in margins.
Jefferies on Nazara Technologies: Hold| Target Rs 770
Jefferies downgraded Nazara Technologies to hold from buy and also slashed the target price to Rs 770 from Rs 810 earlier.
The company reported soft revenue growth and better margins. E-sports is going strong, but Adtech has disappointed.
There are profitability pressures in RMG.
A worsening outlook along with a 23% stock rise in the past 3 months leaves limited upside.
Jefferies on Piramal Enterprises: Underperform| Target Rs 855
Jefferies maintained an underperform rating on Piramal Enterprises but slashed the target to Rs 855 from Rs 920 earlier.
Strong growth in retail while growth in unsecured loans moderates. There is a slight miss in the net interest income (NII).
