Hot Stocks: Brokerages on BHEL, India Hotels and Tata Chemicals

Brokerage firms such as Antique upgraded BHEL to buy, Morgan Stanley maintained its overweight rating on Indian Hotels and Kotak Institutional Equities has a buy rating on Tata Chemicals.

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

Antique Stock Broking on BHEL: Buy | Target Rs 110
Antique Stock Broking upgraded BHEL to a buy with a target price of Rs 110, which translates into an upside of over 50% from Rs 72 recorded on 17 April.

The brokerage firm expects the company to witness a meaningful reversal in its ordering cycle over the next 3-4 years.

Vande Bharat train set order will propel BHEL's presence in the railway segment. Defence will be an emerging growth driver for BHEL.

The brokerage firm expects an average annual order intake of Rs 60,000 crore during FY24-26E.

Morgan Stanley on Indian Hotels: Overweight | Target Rs 388
Morgan Stanley maintained an 'overweight' rating on Indian Hotels with a target price of Rs 388. The hotel chain recorded higher than expected room rates in March 2023, which is a positive sign.

The global investment bank expects better-than-expected growth in the domestic subs, international subs and JVs, said the note.

Kotak Institutional Equities on Tata Chemicals: Buy| Target Rs 1,210
Kotak Institutional Equities retained its ‘buy’ call on Tata Chemicals with a target price of Rs 1,210. Tata Chemicals (TCL) announced 3-4% price cuts across India for light and dense soda ash effective from April 17, 2023.

The cut comes amid falling soda ash prices in China since mid-March, as the market reacts to the unexpected news of substantial capacity addition in Inner Mongolia from May 2023.

“We see this as an incremental negative for soda ash prices, though uncertainties remain around demand and supply and will need monitoring,” said the note.

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