Hot stocks: Brokerage view on HCL Tech and Avenue Supermarts

Brokerage firms like Nomura and Investec have buy and sell views on HCL Tech, respectively, while JP Morgan and Bank of America have overweight and buy ratings on Avenue Supermarts.

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

Nomura on HCL Tech: Buy | Target price: Rs 1,720
Nomura has maintained a buy call on HCL Tech and hiked the target price to Rs 1,720 from Rs 1,700.
Q1FY25 was a slight beat to estimates. GenAl impact is likely to vary across service lines and the company is on track to achieve FY25F revenue growth guidance.

Investec on HCL Tech: Sell | Target price: Rs 1,312
Investec has maintained a sell view on HCL Tech and hiked the target price to Rs 1,312 from Rs 1,300.

The first quarter was inline. The impact of Gen Al is quantifiable and is a net gainer for now. However, the primary concern is EBIT% being at the bottom of the guided band.JPMorgan on Avenue Supermarts: Overweight | Target price: Rs 5,400
The global brokerage has maintained an overweight call on Avenue Supermarts with a target price of Rs 5,400.The company delivered a robust revenue growth delivery with an encouraging mix bodes well for gross margin trajectory. Best growth engine amongst discretionary names, which should support premium valuations.BofA on Avenue Supermarts: Buy | Target price: Rs 5,465
Bank of America has maintained a buy with a target price of Rs 5,465.

Q1FY25 was a stable quarter, and improving G&A contribution was positive. The business momentum is likely to remain healthy and efforts on increasing store footprint across core states of Maharashtra/Gujarat as well as other markets can be seen.

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

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