We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on Apollo Tyres: Overweight| Target Rs 329
Morgan Stanley initiated coverage on Apollo Tyres with a target price of Rs 329. Apollo is ranked among the top two in the fast-growing Indian PV space.
Apollo is able to gradually pass commodity costs to consumers. The company focuses on controlling costs and expanding margins.
The global investment bank expects a consolidated return on equity (ROE) to rise from 6 per cent in FY22 to 11 per cent in FY25, said the note.
BofA Securities on : Buy| Target Rs 130
BofA Securities maintained its buy rating on Manappuram Finance with a target price of Rs 130. The non-gold sector is expected to support growth in FY23, it said.
“NIMs to be supported despite rate hardening. The net interest margins (NIMs) expand as a rise in yield outpaces borrowing costs,” BofA observed.
The global investment bank is of the view that valuations remain attractive at FY24E P/BV at 0.8x.
Prabhudas Lilladher on Bharti Airtel: Buy| Target Rs 1032
Prabhudas Lilladher initiated coverage on Bharti Airtel with a buy rating and a target price of Rs 1032. We believe Bharti is a compelling play on multiple growth opportunities in the emerging digital economy, it said.
The Indian telecom sector is expected to enter into a strong growth phase as wireless revenues will grow at 17.7 per cent CAGR to Rs2.9trn over FY22-25E, it added.
Underpinned by these positives, the brokerage firm expects Bharti’s consolidated EBIDTA/PBT to increase at 21.8 per cent/84.2 per cent CAGR over FY22-25E.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)