Hot Stocks: Brokerages on Sun Pharma, Poonawalla Fincorp and Greaves Cotton

Brokerage firm BofA Securities maintained a buy on Sun Pharma, while Edelweiss retained a buy on Greaves Cotton. JM Financial initiated coverage on Poonawalla Fincorp with a buy rating.

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

BofA Securities on Sun Pharma: Buy| Target Rs 1030
BofA Securities maintained buy rating on Sun Pharma with a target price of Rs 1030. The stock closed at Rs 879 on 26 August.

There is some scepticism in llumya ramp-up despite upside risk, the investment bank said. It is a buy on earnings support from the specialty sector, said the note.

Edelweiss on Greaves Cotton: Buy| Target Rs 224
Edelweiss maintained its buy rating on Greaves Cotton with a target price of Rs 224. The stock closed at Rs 173 on 26 August.

Strong traction in e-mobility, an expanding engine business, and a sound balance sheet imply GRV is poised for a faster ramp-up and to exploit its first-mover advantage, it said.

JM Financial on Poonawalla Fincorp: Buy| Target Rs 400
JM Financial initiated a buy rating on Poonawalla Fincorp with a target of Rs 400. The stock closed at Rs 303 on 26 August.

Poonawalla Fincorp (erstwhile Magma Fincorp) has undergone a metamorphosis of sorts after significant capital infusion by the Poonawalla group (~62% stake) in early CY21, sad the brokerage

“We believe with its strong growth runway (size 1/6th-1/10th of relevant NBFC peers) and strong liabilities advantage, PFL will trade at premium valuations,” said the note. The brokerage firm values the stock at 4x Sep’24e P/BV.

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