Hot Stocks: Brokerages view on Page Industries, Zee, Happiest Minds and Oil India
Page Industries, Emkay has a buy rating on Zee Entertainment while YES Securities also recommends a buy on Happiest Minds and Oil India.We have collated a list of recommendations of top brokerage firms from ET NOW and other sources:Morgan Stanley on Page Industries: Overweight| Target Rs 44,738Morgan Stanley maintained an overweight rating on Page Industries with a target price of Rs 44,738. The company posted a Q1 FY24 beat, and margins improved sharply. Cost controls drive margin growth.
Volumes were impacted due to subdued demand. The management is hopeful of a strong festive season on a low base.Emkay on Zee Entertainment: Buy| Target Rs 335Emkay maintained a buy rating on Zee Entertainment with a target price of Rs 335. The NCLT approving the merger of Zee Entertainment and Culver Max Entertainment (SPNI) is a major shot in the arm for Zee, also dismissing all related objections.
“We await the detailed judgment for ascertaining details. Necessary approvals from stock exchanges and CCI have already been received. With Punit Goenka’s case with SEBI still ongoing, the issue of who will be at the helm of the merged entity persists,” said the note.
The brokerage firm reinstate its previous targeted EV/ EBITDA (broadcasting) of 9.5x (from 8x), with merger completion now in sight and improving business outlook.YES Securities on Happiest Minds: Buy| Target Rs 1125YES Securities maintained a buy rating on Happiest Minds with a target price of Rs 1125. The company reported a slight miss on financial performance for the quarter. Both, the sequential revenue growth and EBIT margin were below estimates.
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