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.

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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.)