Stock brokerages including Sharekhan, Nirmal Bang Institutional Equities, ICICI Securities, and Motilal Oswal have come out with research reports on select stocks namely Reliance Industries (RIL), Sun Pharma, Bharti Airtel and Max Healthcare. Here's what brokerages said about these counters.
Brokerage firm Sharekhan has a ‘Buy’ rating on Reliance Industries (RIL) stock with a target price of Rs 2,880 per share. According to the brokerage, the succession plan is moving ahead well, focus on new energy business transition and addition of financial services to RIL’s ecosystem for consumer-facing businesses would drive medium to long-term growth for RIL.
"RIL is our top pick. We expect continued strong earnings traction in its consumer-centric business – Jio (likely further telecom tariff hikes, 5G rollout, and ramp-up of home broadband) and retail (high growth in retail, led by market share gain and new commerce). We firmly believe RIL is a compelling long-term investment bet, given strong prospects across its businesses and potential value unlocking from retail, digital services, and financial services portfolio," said Sharekhan in its report.
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Nirmal Bang Institutional Equities has a ‘Buy’ rating on Sun Pharmaceutical stock with a target price of Rs 1,315 per share. According to the brokerage, scaling up of the Global Specialty portfolio would remain the key focus area, with Ilumya, Winlevi, and Cequa being the main growth drivers.
"We remain positive on Sun Pharma on a long-term basis due to the following catalysts: (i) Ramp-up of Branded/Specialty business in the US (ii) Continued growth in India business (iii) Potential inorganic opportunity given the strong BS (iv) Maintenance of healthy EBITDA margin at around 27% despite higher R&D spends," said Nirmal Bank in its report.
Brokerage firm ICICI Securities has a ‘Buy’ call on Bharti Airtel stock with a target price of Rs 920 per share. While the headline indices are going through a volatile phase, Bharti Airtel has been relatively stable over the last week, the brokerage noted.
“The leveraged positions in the stocks have declined considerably in last couple of months as stock prices consolidated. Despite closure, the stock has been able to remain in its trading range indicating prevailing positive bias in Bharti Airtel stock. Hence, we believe fresh additions in the stock will trigger another round of fresh upmove towards Rs 920,” said ICICI Securities in its report.
Motilal Oswal has a ‘buy’ rating on Max Healthcare stock with a target price of Rs 660 per share. The brokerage expects the stock to continue trading at a premium on relative basis, “backed by: a) significant land bank availability in high-demand areas of Delhi for brownfield expansion, b) focused approach to improve profitability per bed, and c) proven capability of strong turnaround of hospital assets”.
According to analysts at Motilal Oswal, better realization and improving operational efficiency are expected to drive a 22% earnings CAGR over FY23-25 for Max Healthcare. "It is implementing efforts on bed additions (780 beds; 23% increase from current bed size) to improve growth momentum over the next three to five years. It continues to evaluate inorganic opportunities as well," they said.
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