Hot Stocks: Brokerages on Tata Steel, Britannia Industries and Eicher Motors

2 months ago 42

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Brokerage firm Jefferies maintained a hold rating on

, Investec recommended a hold on

, and Prabhudas Lilladher has a buy rating on


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

Jefferies on Tata Steel: Hold| Target Rs 95
Jefferies maintains a hold rating on Tata Steel with a target price of Rs 95. Steel prices are strained, and it is still early to turn constructive.

Indian flat steel prices declined by 19% from the June quarter average. The global investment bank sees a downside risk as Indian prices are still 6-11% above import parity.

The global investment bank downgraded Indian steel in January and believes it is still early to turn constructive.

Investec on Britannia Industries: Hold| Target Rs 3843
Investec recommends a hold on Britannia Industries with a target price of Rs 3843. The appointment of Rajneet Kohli improves the visibility on management succession.

However, the longer-term reporting structure is yet to be understood, it said. Varun Berry still has 18 months left in his term.

"We do not expect significant differences in strategy in the medium term. Acceleration towards diversification to a total foods company will be a key factor to watch," said the note.

Prabhudas Lilladher on : Buy| Target Rs 4200
Prabhudas Lilladher maintained a buy rating on Escorts with a target price of Rs 4200.

"Eicher Motors remains our preferred pick in the 2W space as we anticipate 1) volume growth from new product launches, 2) rising export volumes from channel expansion (~21% export volume CAGR over FY22-25E), and 3) margin expansion (600bps over FY22-25E) led by improved operating leverage, better realization from export markets and a significant reduction in raw material costs," it said

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