Hot Stocks: Brokerages view on Ashok Leyland, Eicher Motors, Zomato and Shriram Finance
Ashok Leyland while Jefferies recommended a buy on Eicher Motors.
Also, Kotak Institutional Equities had a buy rating on Zomato and Shriram Finance.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on Ashok Leyland: Buy| Target Rs 238
CLSA maintained a buy rating on Ashok Leyland with a target price of Rs 238.
The CV industry outlook for FY24 is looking strong.
The company could well report a double-digit EBITDA margin going forward.
Jefferies on Eicher Motors: Buy| Target Rs 4650
Jefferies maintained a buy rating on Eicher Motors with a target price of Rs 4650.
Royal Enfield's annual biking festival in Goa and mgmt. Interaction at the event increased confidence in RE's brand appeal and community connection.
The global investment bank sees a limited impact on RE from the recent competitive launches.
It sees a potential for re-rating as confidence in long-term market share sustainability rises.
The global investment bank sees tailwinds of 2W demand recovery and premiumization.
Kotak Institutional Equities on Zomato: Buy| Target Rs 130
Kotak Institutional Equities maintained a buy rating on Zomato with a target price of Rs 130. Prosus, an investor in Swiggy, disclosed data points on Swiggy’s 1HCY23 operating performance.
Based on Zomato’s disclosed metrics and calculations, the brokerage notes that food delivery GMV share for Zomato/Swiggy stood at 54.0/46.0 in 1HCY23 compared with 54.6/45.4 in CY2022.
“We believe Zomato’s introduction of Zomato Gold was with the intent of retaining/gaining market share in the food delivery business and the loyalty
program has aided GMV growth,” said the note.
Kotak Institutional Equities on Shriram Finance: Buy| Target Rs
