Hot Stocks: Brokerages on RIL, RBL Bank, HUL, Kotak Mahindra Bank and Laurus Labs

Global brokerage firm Jefferies maintained a buy rating on RIL and Laurus Labs, Morgan Stanley remained underweight on RBL Bank, HSBC maintained a hold call on Kotak Mahindra Bank and Citi retained a buy rating on HUL.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on RIL: Buy | Target Rs 3090

Jefferies maintained a buy rating on Reliance Industries post September quarter results but slashed its target price to Rs 3090 from Rs 3100 earlier.

"Retail leads growth for RIL. Jio's margin disappointed and gross sub-adds were a tad soft," said the note.

Morgan Stanley on RBL Bank: Underweight | Target Rs 115
Morgan Stanley maintained its underweight rating on RBL Bank with a target price of Rs 115. Core pre-provision operating profit (PPOP) missed due to lower balance sheet growth/fee income, the brokerage said.

The bank delivered a credit cost beat but with lower coverage, it added. The global investment bank highlighted that a quick turnaround in PPOP won’t be easy.

HSBotak Mahindra Bank: Hold| Target Rs 2030
HSBC maintained a hold rating on Kotak Mahindra Bank with a target price of Rs 2030. The net interest margins (NIMs) were a surprise, but deposits remain a drag for the private sector lender, it said.

"Deposit growth has to accelerate to fund credit growth. Despite higher earnings, earnings per share (EPS) growth remains challenged," said the note.

Citigroup on Hindustan Unilever: Buy | Target Rs 3050
Citigroup maintained its buy rating on HUL with a target price of Rs 3050.

Q2 revenue grew over +16% YoY despite a tough operating environment and volumes grew 4%, as HUL continued to gain market share, the brokerage said.

Broader demand recovery will likely require sustained deflation, according to Citi.

Jefferies on Laurus Labs: Buy | Target Rs 567
Jefferies maintained a buy rating on Laurus Labs with a target price of Rs 567. Contract Development & Manufacturing Organization (CDMO) segment outperforms but the Antiretroviral (ARV) segment drags down results, it said.

Laurus Labs lowered its FY23 sales guidance by 10%, it added.

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