We have collated a list of recommendations of top brokerage firms from ETNow and other sources:
JPMorgan on Godrej Consumer: Overweight| Target Rs 1135
JPMorgan maintained an overweight rating on Godrej Consumer but raised the target price to Rs 1135 from Rs 1075 earlier.
The company reported robust volume-led topline growth for the India business. In Indonesia, structural initiatives drive topline recovery.
Morgan Stanley on Zomato: Overweight| Target Rs 115
Morgan Stanley maintained an overweight rating on Zomato with a target price of Rs 115.
The move of charging a platform fee (if true) has come in ahead of expectations. It should have positive implications on unit economics.
Macquarie on Ramco Cement: Neutral| Target Rs 865
Macquarie maintained a neutral rating on Ramco Cement with a target price of Rs 865. The company reported a weak realisation which drove the EBITDA miss in Q1.
The bulk of expansion is behind as the company prepares for the next phase of capacity addition.
The global investment bank retained a neutral rating owing to rich valuations. It is the least preferred cement stock.
Morgan Stanley on Britannia Industries: Overweight| Target Rs 5013
Morgan Stanley maintained an overweight rating on Britannia Industries but slashed the target price to Rs 5013 from Rs 5184 earlier.
The volume growth disappointed in the quarter. The management remains focused on driving volume growth and is taking necessary actions. EBITDA margins will be maintained.
Jefferies on Torrent Pharma: Hold| Target Rs 1950
Jefferies maintained a hold rating on Torrent Pharma but raised the target price to Rs 1950 from Rs 1650 earlier.
Q1 revenue and Ebitda were in-line with estimates. The net profit of 6% is above estimates due to higher other income.
The company reported a strong performance from Germany and RoW markets while India growth was steady.
India, Brazil growth momentum is likely to sustain while Germany should see steady recovery in FY24.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)