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    Hot Stocks: Brokerages on Maruti Suzuki, TVS Motors, Pidilite Industries post Q3 results

    Synopsis

    Morgan Stanley maintained an overweight rating on Maruti Suzuki post December quarter results with a target of Rs 10,483.

    Hot Stocks: Brokerages on Maruti Suzuki, TVS Motors, Pidilite Industries post Q3 resultsiStock
    Global brokerage firm Citigroup maintained a sell rating on TVS Motors, JPMorgan remained underweight on Pidilite Industries, and Morgan Stanley has an overweight rating on 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 10,483
    Morgan Stanley maintained an overweight rating on Maruti Suzuki post December quarter results with a target of Rs 10,483.

    “The company has an impressive Q3 mix and there is a higher possibility of market share improvement ahead,” said the note. Maruti is also a top pick in autos for Morgan Stanley.

    BofA Securities on Maruti Suzuki: Buy| Target Rs 10,600
    BofA Securities maintained a buy rating on Maruti Suzuki with a target price of Rs 10,600 post December quarter results.

    “Power of mix, new launches, and benign raw materials starting to play out. Margins beat in Q3 underscores the power of the product mix,” said the note.

    Citigroup on TVS Motor: Sell | Target Rs 800

    Citigroup maintained sell rating on TVS Motor Company post December quarter results with a target of Rs 800.

    “TVS beat was primarily driven by robust realisations. The domestic bikes segment market could also see elevated competition,” said the note. “Valuations provide limited room for error,” it added.

    JPMorgan on Pidilite Industries: Underweight | Target Rs 2300
    JPMorgan remained underweight on Pidilite Industries post Q3 results with a target price of Rs 2300. The stock closed at Rs 2382 on 24 January.

    “Earnings misled by unexciting revenue delivery. The commentary was cautiously optimistic about demand recovery,” said the note.

    “Muted volume growth in the consumer and bazaar segment was led by strained rural demand,” it added. The global investment bank expects a downward revision to FY23 consensus estimates.

    (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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