Hot Stocks: Brokerage view on General Insurance, Info Edge, BHEL, Dabur, and Vodafone

Global brokerage firm JPMorgan upgraded General Insurance Corporation, and Goldman Sachs maintained its sell rating on Info Edge and BHEL.

Goldman Sachs has a buy rating on Dabur India, and CLSA maintained its sell rating on Vodafone Idea.

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

JPMorgan on General Insurance Corporation: Upgrade to buy | Target Rs 230
JPMorgan upgraded General Insurance Corporation to buy with a target price of Rs 230. The global brokerage foresees the trend to continue improving the combined ratio next year as well.

“Hardening process and confidence in the projection of underwriting results, stabilizing further. Reinsurance stocks tend to move in-line with the pricing cycle,” it said.

The brokerage hikes FY 24-26 EPS by 57%, to reflect a 7% lower combined ratio at 105% given a more stable underwriting outlook.

Goldman Sachs on InfoEdge: Sell| Target Rs 3340
Goldman Sachs maintained its sell rating on InfoEdge with a target price of Rs 3340. “The billing growth was led by strong traction in non-IT hiring and real estate segments,” it said.

“For real estate and matrimony, we expect a high competitive intensity to prevail. Growth to continue decelerating, and valuations remain rich,” it added.

Goldman Sachs on BHEL: Sell | Target Rs 34
Goldman Sachs maintained its sell rating on BHEL with a target price of Rs 34. “The March quarter results were a mixed bag, and the revenues were below estimates but margins surprised positively,” it said.

“Gradual diversification away from its key segment remains, making BHEL vulnerable to weak profitability,” it added. The global investment bank believes that the path towards profitability could be still some time away.

Goldman Sachs on Dabur India: Buy| Target Rs 600
Goldman Sachs maintained its buy rating on Dabur India with a target price of Rs 600. According to the brokerage, weak H2FY23 was driven by a confluence of one-off factors, expect a recovery in FY24.

“The healthcare focus is back to power brands. Oral care market share has headroom despite the natural tailwind slowing down,” it said.

“The hair oils segment is starting to see recovery as rural demand improves. Working on margin enhancement projects over the medium term,” it said.

CLSA on Vodafone Idea: Sell | Target Rs 5

CLSA maintained its sell rating on Vodafone Idea with a target price of Rs 5. “Revenue and EBITDA were below estimates, it said.

“ARPU increased but continued subscriber loss. The planned fundraising by the company should improve the stock's risk-to-reward ratio,” it added.

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