Hot Stocks: Brokerages view on Colgate, Shriram Finance, Asian Paints, and ACC
Colgate-Palmolive India, and HSBC recommended a buy on Shriram Finance and Asian Paints. Meanwhile, UBS recommended a buy on ACC.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on Colgate Palmolive India: Buy| Target Rs 2320
Jefferies maintained a buy rating on Colgate Palmolive India and raised the target to Rs 2320 from Rs 2180 earlier.
The company reported flat volume growth, but pricing power led to earning growth.
It reported a subdued volume trend, with nearly flat volumes on a YoY basis.
The input basket declined around 9% YoY bulk of which Colgate retained.
HSBC on Shriram Finance: Buy| Target Rs 2300
HSBC maintained a buy rating on Shriram Finance but raised the target price to Rs 2300 from Rs 2260 earlier.
The company reported a strong performance in the September quarter and the guidance was enhanced, which is positive.
The management upgraded its loan growth guidance to 18-20% (from 15%) for FY24 and NIM guidance to 8.5-9.0% (from 8.5%).
The asset quality mix has improved, and the company is expanding its growth appetite. The incremental cost of funds was lower than the outstanding cost of funds.
HSBC on Asian Paints: Buy| Target Rs 4000
HSBC maintained a buy rating on Asian Paints with a target of Rs 4000.
Q2 trailed expectations, with 6% decorative volume growth, in part driven by uneven monsoons impacting volumes.
Margin expansion fuelled strong earnings growth and remains on an upward trajectory.
Volume growth rebound expected in Q3. H2FY24’s outlook remains strong, and valuation looks appealing.
UBS on ACC: Buy| Target Rs 2450
UBS maintained a buy rating on ACC with a target price of Rs 2450.
