The Indian markets are likely to consolidate on Monday after rallying over 2 per cent for the week ended December 31, but there will be stock-specific action in which global brokerage firms tweaked their rating.

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The month of December remained volatile for the Indian markets but benchmark indices managed to close the month with gains of over 2 per cent each, which is a positive sign in the run-up to the New Year.

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

Maruti Suzuki: Buy| Target Rs 9,000

Goldman Sachs maintained its buy rating on Maruti Suzuki India Ltd with a 12-month target price of Rs 9,000 that translates into an upside of over 21 per cent from Rs 7,426 recorded on 31 December.

The December domestic dispatch volumes fell by about 13 per cent on a YoY basis. Overall volumes, including exports, declined by 4 per cent on a YoY basis.

But, the global investment bank likes the company’s exposure to upcoming launches (Jimny, planned mid-sized- SUV, new Brezza, new Baleno, among others).

Avenue Supermart: Underweight| Target Rs 4338

DMart, the Radhakishan Damani-promoted retail chain in its business update for Q3FY22, said that its standalone revenue from operations for the quarter ended (QE) December 31, 2021, stood at Rs 9,065.02 crore.

The company's revenue stood at Rs 7,432.69 crore during the October-December quarter of 2020. The total number of stores as of December 31, 2021, stood at 263.  

Morgan Stanley maintained its underweight rating on Avenue Supermart for a target price of Rs 4,338.

DMart added 17 new stores net (highest in 7 quarters), bringing its network to 263 stores. To recall, management has guided for 35-37 new store openings in FY22.

(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.)