Hot Stocks: Brokerages view on SBI, Zomato, Titan Company and InterGlobal Aviation
SBI and upgraded Zomato to buy post Q2 results. CLSA also upgraded Titan Company to buy and BofA Securities recommended a buy on InterGlobe Aviation.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on SBI: Buy| Target Rs 700
CLSA maintained a buy rating on SBI with a target price of Rs 700.
Most parameters are on track with net interest margin (NIM) moderation, a slight surprise.
The NIM is a tad soft, but retail loan growth moderates off from a high base. CASA remains challenging and the asset quality continues to improve.
CLSA on Zomato: Buy| Target Rs 168
CLSA upgraded Zomato to buy from outperform earlier and has also raised the target price to Rs 168 from Rs 120.
Quick commerce viability is increasing fast.
GOV acceleration was primarily driven by an increase in monthly transacting customers.
Higher use frequency for Zomato droves improved contribution. The global investment bank sees greater confidence in profitability, especially for Blinkit.
CLSA on Titan Company: Buy| Target Rs 3948
CLSA upgraded Titan Company to buy from outperform and has also raised the target price to Rs 3948 from Rs 3540 earlier.
The company is selling to all consumers that can spend.
Margins were lower on a YoY basis but they were better than expected.
The company is planning to accelerate expansion into two new large markets, luxury and overseas. “Expansion we believe increases its addressable market significantly,” said the note.
BofA Securities on Indigo: Buy| Target Rs 2700
BofA Securities maintained a buy rating on InterGlobe Aviation and raised the target price to Rs 2700 from Rs 2600 earlier.
The Q2 PAT beat was largely driven by one-off reversals of provisions and
