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    Hot Stocks: Brokerage view on HPCL, L&T and Titan Company

    Synopsis

    Motilal Oswal retained its buy rating on Titan Company with a target price of Rs 2910. Titan remains an attractive investment case in the largecap consumption space in India, with strong earnings growth visibility and compounding ~20% for an elongated period of time.

    Hot Stocks: Brokerage view on HPCL, L&T and Titan CompanyET Bureau & Agencies
    Brokerage firms such as UBS remained positive on HPCL, Jefferies retained its buy rating on L&T and Motilal Oswal also has a buy rating on Titan Company.

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

    UBS on OMCs: HPCL preferred buy
    UBS remains positive on the OMC space on strong refining and improved marketing which could change fortunes for the sector.

    "Integrated margins are at multi-quarter highs. However, declining crude prices alleviates marketing under-recovery concerns," the brokerage said.

    The global investment bank reiterated a buy on OMCs, and HPCL remains its most favoured pick. UBS sees HPCL as the biggest beneficiary.

    Jefferies on L&T: Buy| Target Rs 2455
    Jefferies maintained a buy rating on L&T with a target price of Rs 2455. IDPL Monetisation could add 1.5-2% to FY24E-25E EPS, Jefferies said.

    L&T-CPP have sold their 100% stake in L&T IDPL. Buoyant equity markets are helping L&T with its monetisation drive, it added.

    The global investment bank believes that valuations point to a re-rating in a historical context.

    Motilal Oswal on Titan Company: Buy| Target Rs 2910
    Motilal Oswal retained its buy rating on Titan Company with a target price of Rs 2910. Titan remains an attractive investment case in the largecap consumption space in India, with strong earnings growth visibility and compounding ~20% for an elongated period of time.

    Expensive valuations in the near term will be burnished by its rapid pace of growth. “We maintain our Buy rating with a target of Rs 2,910 (60x Sep’24 EPS),” said the note.

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



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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