Hot Stocks: Brokerages view on JSW Energy, Paytm, Kotak Mahindra Bank, and ICICI Bank
JSW Energy and a buy on Paytm. CLSA retained an outperform rating on Kotak Mahindra Bank and Jefferies recommended a buy on ICICI Bank post Q2 results.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on JSW Energy: Sell| Target Rs 250
CLSA maintained a sell rating on JSW Steel but raised the target price to Rs 250 from Rs 234 earlier.
CLSA on Paytm: Buy| Target Rs 1200
CLSA maintained a buy rating on Paytm but raised the target price to Rs 1200 from Rs 1050 earlier.
GMV growth was good.
In the lending business, Paytm added a new partner, and the take rate was stable.
The global investment bank increased Ebitda estimates by 12%- 13% on the back of stronger GMV growth.
CLSA on Kotak Mahindra Bank: Outperform| Target Rs 2050
CLSA maintained an outperform rating on Kotak Mahindra Bank but slashed the target price to Rs 2050 from Rs 2200 earlier.
The appointment of an external candidate came as a surprise to the market, which was expecting the new CEO to be an internal candidate.
However, it ends the year-long speculation on who will lead Kotak Bank. The loan growth was on track.
Jefferies on ICICI Bank: Buy| Target Rs 1250
Jefferies maintained a buy rating on ICICI Bank but raised the target price to Rs 1250 from Rs 1240 earlier.
The net interest income (NII) was a tad ahead of estimates despite the net interest margin (NIM) compression.
The corporate NPL upgrades kept credit costs low.
The management was comfortable with the quality of the retail book.
The global investment bank sees lower NIMs & higher credit costs, but the bank could still deliver 18% ROE in FY25. It stayed among the top picks in Jefferies's portfolio.
(Disclaimer: Recommendations,
