Hot Stocks: Brokerages on L&T, Dr Reddy’s, Nazara, SRF, Hindalco and Godrej Consumer
Jefferies maintained a buy rating on Nazara Technologies and lowered revenue and margin estimates for FY24/25 after Q4 results. The brokerage firm also maintained its buy rating on L&T with a target price of Rs 2900 but noted weaker than expected Q4 EBITDA and FY 24 being a tough year for SRF and maintained a hold rating with a target price of Rs 2380. JPMorgan retained its overweight rating on Hindalco and Godrej Consumer with a target price of Rs 490 and Rs 990, respectively. Dr Reddy's Laboratories maintained its buy rating with a target price of Rs 5650 despite a sales drop.