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    Hot Stocks: Brokerages on Gail, IOC, UPL and Sun Pharma post Q3 results

    Synopsis

    Sun Pharma is the world’s fourth largest generics/specialty pharma company with 43 manufacturing sites at its disposal addressing segments like specialty products, branded generics, complex generics, pure generics and APIs.

    Hot Stocks: Brokerages on Gail, IOC, UPL and Sun Pharma post Q3 resultsET Online and Agencies
    Brokerage firm ICICIdirect has a buy rating on Sun Pharma and Gail India post Q3 results. It has a hold rating on Indian Oil Corporation (IOC). Motilal maintained its neutral stance on UPL post December quarter results.

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

    ICICIdirect on Sun Pharma: Buy | Target Rs 1210

    ICICIdirect maintained its buy rating on Sun Pharma post December quarter results with a 12-month target price of Rs 1210.

    Sun Pharma is the world’s fourth largest generics/specialty pharma company with 43 manufacturing sites at its disposal addressing segments like specialty products, branded generics, complex generics, pure generics and APIs.

    “We maintain BUY as 1) the Global specialty portfolio continues to maintain momentum, 2) Growth in India formulations from new launches and field force expansion and 3) Calibrated cost approach including R&D spends,” the brokerage said.

    ICICIdirect on Gail India: Buy| Target Rs 115

    ICICIdirect maintained its buy rating on Gail India post December quarter results with a 12-month target price of Rs 115.

    Gail India is a gas utility company with various business segments such as gas transmission & trading, LPG, LLH and petrochemicals.

    “Gas transmission and trading volumes are likely to increase in FY24E with supplies coming from new sources. Petchem and LPG/LLH performance is expected to improve, going ahead, with a decline in gas prices,” said ICICIdirect.

    The domestic brokerage firm changed the rating on the stock from hold to buy.

    ICICIdirect on IOC: Hold | Target Rs 90

    ICICIdirect maintained its hold rating on IOC post December quarter results with a 12-month target price of Rs 90.

    IOC is India’s largest refining & marketing company with an installed refining capacity of ~70 MMT. “GRMs are likely to remain strong amid an increase in petrol cracks,” the brokerage said.

    “The company has not passed on higher crude oil costs to customers, but marketing losses are likely to narrow down in the near term. We maintain our HOLD rating on the stock,” it added.

    Motilal Oswal on UPL: Neutral | Target Rs 835

    Motilal Oswal maintained a neutral stance on UPL post December quarter results with a 12-month target price of Rs 835.

    UPL reported revenue growth of 21% YoY, driven primarily by an increase in price realization (up 13% YoY). Volumes inched up 1% YoY.

    All other key geographies registered strong double-digit sales growth, except for Europe (up 3% YoY)

    “We largely maintain our FY23E/FY24E/FY25E earnings. We reiterate our Neutral rating on the stock with a target of Rs 835 (premised on 9x Dec’FY24E P/E; in line with a three-year average, one-year forward P/E),” said the note.

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



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    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

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