Global View: ONGC, Apollo Hospitals, Divi’s Laboratories and Hero MotoCorp could give 10-40% return
Indian market is likely to see some selling pressure amid weak global cues on Monday, tracking muted global cues, but there will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.
Indian market is likely to see some selling pressure amid weak global cues on Monday, tracking muted global cues, but there will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.
We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:
ONGC: Overweight| Target Rs 235
JP Morgan maintained overweight rating on ONGC post December quarter results with a target price of Rs 235 that translates into an upside of nearly 40 per cent from Rs 168 recorded on 11 February.
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The company reported strong operating quarter and should improve given crude and gas price trajectory – which is on the upside.
The stock trades at over 3x P/E on spot. The price offers most attractive risk-to-reward ratio from current levels. The implied crude realization for quarter stood at $75.7/bbl vs. spot Brent at $94.4/bbl, said the note.
Apollo Hospitals: Outperform| Target Rs 5250
CLSA maintained the outperform rating on Apollo Hospitals post December quarter results with a target price of Rs 5250 that translates into an upside of over 16 per cent from Rs 4514 recorded on 11 February.
The global investment bank slashed FY22-24CL Ebitda by 3-5% on lower margin assumptions for pharmacy. The company reported a strong quarter led by hospital business.
Divi’s Laboratories: Buy| Target Rs 5505
Goldman Sachs maintained buy rating on Divi’s Laboratories post December quarter results but slashed its target price to Rs 5505 from Rs 5770 earlier. A cut in target price still translates into an upside of over 28 per cent from Rs 4291 recorded on 11 February.
The company reported a strong 3Q beat. Sales/EBITDA grew +46%/+59%.
Custom synthesis continued +ve surprise, buoyed by its partnership with MRK for Molnupiravir API supplies, said the note.
Generic API declined 5% on a YoY basis. Margins surprised at 43.7% due to better mix/operating leverage.
Hero MotoCorp: Outperform| Target Rs 3094
Credit Suisse maintained Neutral rating on Hero MotoCorp post December quarter results but slashed its target to Rs 3094 from Rs 3202. A cut in target still translates into an upside of nearly 14 per cent from Rs 2718 recorded on 11 February.
(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.)
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