We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on REC: Buy| Target Rs 160
CLSA maintained a buy rating on REC with a target price of Rs 160. The company maintained good asset quality but margins were lower.
We expect margin compression and retain a buy rating given an undemanding valuation, said the note.
CLSA on Devyani International: Buy| Target Rs 205
CLSA maintained a buy rating on Devyani International with a target price of Rs 205. The demand has taken a hit as consumer sentiment remains weak.
Inflation persists in cheese, and chicken prices are cooling off. Scale-up of adjacencies augurs well for the future.
Macquarie on Thermax: Neutral| Target Rs 2300
Macquarie maintained a neutral rating on Thermax with a target price of Rs 2300. We are seeing a strong execution across all segments.The company has recorded an improvement in its margin trajectory. In the future, understanding longer-term capital deployment, margins, and return profile remains key, said the note.
Macquarie on Jubilant FoodWorks: Underperform| Target Rs 340
Macquarie maintained an underperform rating on Jubilant FoodWorks with a target price of Rs 340.
Capex hiked despite a muted near-term outlook. Continued milk inflation pressures in 1HFY24 make us cautious, said the note.
Sequential margin decline shows how cost controls were unable to fully offset pressures from input inflation/demand weakness.
Jefferies on Oberoi Realty: Hold| Target Rs 891
Jefferies maintained a Hold rating on Oberoi Realty with a target price of Rs 891. The company reported numbers that were in line with estimates.
Pre-sales remain sluggish as pricing has increased. The net debt has risen, but improvement is likely in the near future.
The management mentioned that a project in Gurgaon is close to acquisition.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)