Hot Stocks: Brokerage view on BPCL, Sun Pharma, Thermax, Shree Cement and Power Grid

Brokerage firm BofA Securities maintained an underperform rating on BPCL. Citi has a buy rating on Sun Pharma and Power Grid. Goldman Sachs retained its sell rating on Thermax and Jefferies maintained a hold rating on Shree Cement.

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

BofA Securities on BPCL: Underperform| Target Rs 315
BofA Securities maintained an underperform rating on BPCL with a target price of Rs 315 post Q4 results. The net profit (PAT) for Q4 stood at Rs 7,840 cr - a decade high.

“Q4 earnings beat was led by refining and higher domestic sales. Marketing margins were positively impacted by a fall in crude oil prices,” it said.

Citi on Sun Pharma: Buy| Target Rs 1225
Citi maintained a buy rating on Sun Pharma with a target price of Rs 1225. “Margin concerns are largely overdone,” it said.

Global investment bank expects that Sun Pharma is among the top picks in the Indian Pharma space.

“The company has certain positive levers like improvement in the net realization in Winlevi,” it added. The global investment bank slashed FY23-25 EPS by 5-8% factoring in additional disruptions in the generic business.

Goldman Sachs on Thermax: Sell| Target Rs 1880
Goldman Sachs maintained a sell rating on Thermax with a target price of Rs 1880. “Weak order inflow and steady margin dampen the stock outlook,” it said.

“Meaningful contribution from newer growth areas is still some time away. Overseas operations may take some time to normalize,” it added.

Jefferies on Shree Cement: Hold| Target Rs 21,850
Jefferies maintained a hold rating on Shree Cement with a target price of Rs 21850. “EBITDA was a tad lower than the estimate,” it said.

“Cement volumes grew by 10% on a YoY basis driven by industry wide demand pickup. Costs are likely to be higher due to higher merchant power generation,” it added.

Citi on Power Grid: Buy| Target Rs 288
Citigroup maintained a buy rating on Power Grid with a target price of Rs 288. The global investment bank continues to like the stock for its relatively stable business model with healthy RoEs.

“Over the medium term, renewables-linked transmission capacities should continue to support growth initiatives. Power Grid is also making efforts to diversify into areas such as smart metering,” it said.

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