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    Hot Stocks: Brokerages on Asian Paints, HCL Tech, Wipro, Maruti, Biocon and ITC

    Synopsis

    BofA maintained a buy call on Biocon with a target price of Rs 415. The brokerage sees a positive trend in the existing portfolio and earnings catalyst in the next few quarters.Stock's recent underperformance provides an attractive buying opportunity, it said.

    Hot Stocks: Brokerages on Asian Paints, HCL Tech, Wipro, Maruti, Biocon and ITCAgencies
    Brokerage firm CLSA maintained a sell rating on Maruti while outperform on Wipro and ITC. JP Morgan, meanwhile, maintained an overweight rating on Asian Paints.

    Global brokerage firm Morgan Stanley upgraded HCL Tech to overweight, while Macquarie maintained outperform rating on HCL Tech and Citi maintained a sell call on Wipro.

    JP Morgan on Asian Paints: Overweight | Target Rs 3450
    JP Morgan maintained an overweight rating on Asian paints with a target price of Rs 3,450. It sees medium-term EBITDA at 18-20 per cent.

    The stock’s competitive position continues to strengthen and revenue aggression stays intact. Asian Paints is eyeing a larger play in home improvement, it said.

    CLSA on Maruti: Sell | Target Rs 7597
    CLSA maintained a sell call on Maruti Suzuki with a target price of Rs 7,597. It sees demand moderation likely in FY24.

    The stock’s SUV segment share to increase going ahead. The brokerage increases EBITDA estimates by 11-12 per cent for FY 23-24.

    Morgan Stanley on HCL Tech: Overweight| Target Rs 1000
    Morgan Stanley upgraded HCL Technologies to overweight from underweight call with a target price of Rs 1,000.

    HCL Tech's risk-reward is favourable and improving EBIT growth should drive re-rating, it said.


    Macquarie on HCL Tech: Outperform | Target Rs 1420
    Macquarie maintained outperform rating on HCL Technologies with a target price of Rs 1,420.

    The stock is a good beat on all counts with no one-off, it said.

    CLSA on Wipro: Outperform | Target Rs 450
    CLSA maintained an outperform ratingon Wipro with a target price of Rs 450.

    The brokerage sees stock’s Q2FY23 results were in-line with estimates and it is hopeful for FY23 commentary. Also, it is conservative on Q3FY23 guidance,

    Citi on Wipro: Sell | Target Rs 370

    Citi maintained a sell rating on Wipro with a target price of Rs 370. The brokerage sees Q3 growth guidance below expectations.
    CLSA on ITC: Outperform | Target Rs 355
    CLSA maintained an outperform rating on ITC with a target price of Rs 355.

    The stock’s rural network is crucial for ESG efforts. Strengthening ITC's ESG efforts and its programme should aid in scaling up ITC's mega 'Aashirvaad' brand. It said


    BofA on Biocon: Buy | Target Rs 415
    BofA maintained a buy call on Biocon with a target price of Rs 415. The brokerage sees a positive trend in the existing portfolio and earnings catalyst in the next few quarters.

    Stock's recent underperformance provides an attractive buying opportunity, it said.

    (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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    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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    (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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