Hot Stocks: Global brokerages on SBI Life, Power Grid, Sunteck Realty, and PolicyBazaar

Global brokerage firm Citigroup maintained its buy rating on SBI Life and PB Fintech (PolicyBazaar), BofA retained its buy rating on Power Grid and CLSA maintained its buy stance on Sunteck Realty.

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

Citigroup on SBI Life: Buy | Target Rs 1657
Citigroup maintained a buy rating on SBI Life with a target price of Rs 1657.

“SBI Life has a higher presence in the mass market with a low-ticket size. Limited ULIP pressure was a post taxation revision,” the brokerage said.

“The stock has a high and widened valuation discount to HDFC Life,” it added.

The global investment bank is of the view that the near-term volumes can surprise positively.

BofA Securities on Power Grid: Buy | Target Rs 244
BofA Securities maintained a buy rating on Power Grid with a target price of Rs 244. According to the investment bank, there could be some pressure on RoE amid rising competition.

“A strong dividend payout is a good sign. However, earnings were down on higher interest expenses,” it said

“The company has a strong project pipeline, and going forward dividend payouts should remain robust,” it added.

CLSA on Sunteck Realty: Buy| Target Rs 486
CLSA maintained its buy rating on Sunteck Realty with a target price of Rs 486. According to the investment bank, the stock is likely to miss guidance.

“There could be some delay in the new launches which may impact sales velocity. The company is likely to miss pre-sales guidance which is already factored in our estimates,” it said.

“The new launches are critical to its growth, but the delays are concerning,” the note added.

Citigroup on PB Fintech: Buy | Target Rs 760
Citigroup maintained its buy rating on PB Fintech with a target price of Rs 760.

“Shares could rebound in the near term as earnings could surprise on the upside. Low contribution of ULIP in the overall premium mix (~20-25%),” the brokerage said.

“The robust retail credit growth is supporting. Proposed EOM guidelines reduce the overhang of insurance commission,” it addded.

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