We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on HCL Technologies: Hold| Target Rs 1500
Jefferies maintained a hold rating on HCL Technologies with a target price of Rs 1500. The Q3 results beat estimates on higher-than-expected margins in the Software segment.The revenue beat in Software offsets the miss in services. Soft deal bookings and slight cut to growth guidance. The company lowered its growth guidance to 5-5.5% – largely in line with expectations.
Jefferies on Wipro: Underperform| Target Rs 470
Jefferies maintained an underperform rating on Wipro but raised the target price to Rs 470 from Rs 385 earlier post Q3 results.
The Q3 results beat estimates mainly led by higher margins. However, weak Q4 growth guidance and continued headcount declines are not inspiring.
The global investment bank raised EPS estimates by 4-10% on margin beat. Reacting to the results, a sharp 18% upmove as indicated by the ADR post results — we see too much optimism being priced in.
Goldman Sachs on Polycab India: Buy| Target Rs 5750
Goldman Sachs maintained a buy rating on Polycab India with a target price of Rs 5750. “We await further clarity from the company and govt authorities,” said the note.
“Take no view on the substance or outcome of the allegations/investigation. Post the recent correction, Polycab is now trading at 29X FY25E, a 38% discount to the domestic peers under coverage,” the note added.
UBS on SBI Cards and Payment Services: Neutral| Target Rs 840
UBS initiated coverage on SBI Cards and Payment Services with a neutral rating and a target price of Rs 840.High credit costs limit near-term upside; however, the growth outlook remains steady. Rate reversal will support net interest margin (NIM), but sticky revolver receivables limit expansion.
Credit cost is likely to remain elevated and the return on equity (RoE) is likely to remain at 24-25%.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)