Indian markets bounced back sharply on Tuesday tracking positive global cues, and the trend could well continue on Wednesday. The S&P BSE Sensex is back above 57000, while the Nifty50 closed above 17150.

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The market is likely to edge higher on Wednesday, and there will be stock-specific action in which global brokerage firms tweaked their rating.

We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:

Bharti Airtel: Buy

Goldman Sachs maintained its buy rating on Bharti Airtel with a target price of Rs 870 that translates into an upside of 24 per cent from Rs 699 recorded on 7 December.

The stock offers high earnings visibility and forecasts 38 per cent FY21-24 EBITDA CAGR for wireless business.
 
The global investment bank sees upside risks to earnings if ARPU’s were to be closer to the company-guided number.
 
The telecom company trades at 8x FY23e EV/EBITDA, and that is broadly in-line with its historical trading averages. India business may generate more than $2.5 billion of annual FCF on an average for the next four years, said the note.

InterGlobe Aviation: Outperform

Credit Suisse maintained its outperform rating on InterGlobe Aviation with a target price of Rs 2700 that translates into an upside of over 39 per cent from Rs 1942 recorded on 7 December.

The global investment bank is of the view that a rise in traffic may turn quarter profitable. Removal of restrictions is progressive for airlines.

The industry load factor is near pre-Covid levels. Industry-level passenger count is stable.

CarTrade Tech Ltd: Buy

Citigroup initiated buy on CarTrade for a target price of Rs 1130 that translates into an upside of over 28 per cent from Rs 881 recorded on 7 December.

India’s automotive retailing is digitizing at an accelerated pace. Key positives are asset-light, dealer-centric, and profitable business models.

The global investment bank is of the view that India's online auto is a $10-billion opportunity, and CarTrade is an online and offline multi-channel platform.

ICICI Bank: Buy

Goldman Sachs maintained its buy rating on ICICI Bank with a target of Rs 829 that translates into an upside of nearly 13 per cent from Rs 734 recorded on 7 December.

The growth outlook remains positive for the financial sector. Pockets such as real estate and corporate capes are showing signs of demand revival. 
 
Asset quality performance is better than expected. The private sector lender is transforming towards a 'digital' bank by focusing on digitizing.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)