Hot Stocks: Brokerages on Maruti Suzuki, Infosys, HCL Technologies and SBI Life

Brokerage firm Kotak Institutional Equities maintained a buy on HCL Technologies while Morgan Stanley retained an overweight stance on Infosys and also maintained a similar stance on NBFC stocks like SBI Life, Bajaj Finance, Manappuram Finance, and auto major Maruti Suzuki.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Morgan Stanley on Maruti Suzuki: Overweight| Target Rs 10483
Morgan Stanley maintained its overweight stance on Maruti Suzuki with a target of Rs 10,483. The global investment bank believes that the share price will rise relative to the country index over the next 30 days.

The stock is down by about 2% from October 22 peak as forex gains from weak JPY reversed.

December volumes were below expectations after being hit by semiconductor shortages. It expects the production to pick up from this month.

Kotak Institutional Equities on HCL Technologies: Buy| Target Rs 1280
Kotak Institutional Equities maintained its buy rating on HCL Technologies with a target price of Rs 1280 post December quarter results.

HCL Technologies' revenue and margin beat our estimates due to strong QoQ growth. “We see upgrades in EPS and retain a buy rating,” said the note.

The company is seeing healthy growth and steady margins in services which is a positive sign, it said.

Morgan Stanley on Infosys: Overweight| Target Rs 1670
Morgan Stanley maintained its overweight stance on Infosys post December quarter results with a target price of Rs 1670.

"Resilience in the revenue growth and good momentum in new and large deal win TCV. There are positives such as strong execution on revenue growth," said Morgan Stanley.

Morgan Stanley on NBFCs: SBI Life, Bajaj Finance, Manappuram Finance
Morgan Stanley maintained its overweight stance on most of the NBFC stocks such as SBI Life, Bajaj Finance, Manappuram Finance, Mahindra Finance, and ONB Housing.

The non-bank financial stocks in general underperformed in 2022, this is despite strong earnings delivery.

“In 2023, we see healthy return ratios and expansion for most stocks,” said the note. Given attractive valuations, the global investment bank sees potential for a strong catch-up rally in some of the NBFCs.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)