Hot Stocks: Brokerages view on UltraTech Cement, KPIT Tech and MCX

economictimes.indiatimes.com:

UltraTech Cement and KPIT Technologies. Morgan Stanley remains ‘Underweight’ on India’s largest non-agri commodity index, MCX. We have collated a list of recommendations from top brokerage firms from ETNow:Goldman Sachs on UltraTech Cement: Buy | CMP: 8,458.90 | Target: Rs 8,720 Goldman Sachs has given a 'Buy' rating on UltraTech Cement stock for a price target of Rs 8,720.

The brokerage firm sees Q1 volume growth at 20% versus 16% GS estimates and 14% street estimates. Notwithstanding a limited upside seen in the cement sector by Goldman, UltraTech remains its top pick. The market share gains will likely continue for the company, the foreign brokerage said.Goldman Sachs on KPIT Technologies: Buy | CMP: 1,092.05 | Target: 1,200Brokerage firm Goldman Sachs maintained a 'Buy' stance on KPIT Technologies and estimates a price target of Rs 1200.

Goldman Sachs expects an over 5% Quarter-on-Quarter constant currency revenue growth in Q1FY24 revenue. The brokerage likes KPIT's exposure to rapidly growing EV and driverless car R&D budgets at par with the large global automakers. It said that the recent updates indicate upside risks to electrification spending and preponement of electrification targets.Morgan Stanley on MCX: Underweight | CMP: Rs 1,492 | Target: Rs 1,125 Morgan Stanley has an ‘Underweight’ stance on MCX and puts the price target at Rs 1,125.

The US brokerage highlighted that average daily traded value (ADTV) remains a key driver of MCX's profits and share price. In June 2023, ADTV was up 12% month-on-month (MoM) to Rs 58,500 crore led by options.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times