Indian markets saw a knee-jerk reaction on Monday that pushed the S&P BSE Sensex below 57000 and the Nifty50 breached 17000 levels amid weak global cues.

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The markets are likely to remain volatile but there will be stock-specific action in which global brokerage firms tweaked their rating.

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

Piramal Enterprises: Initiate with a Buy rating

Jefferies initiated a buy rating on Piramal Enterprises with a target of Rs 3050 that translates into an upside of over 21 per cent from Rs 2518 recorded on 6 December.

The DHFL deal helped the company to rebalance portfolio and offer a strong growth platform in housing.

  The DHFL acquisition should drive a 14 per cent profit CAGR in the lending business over FY22-24.

The Contract Development & Manufacturing Pharmaceutical company (CDMO), and hospital generics recovery should drive a 29 per cent EBITDA CAGR over FY22-24.

The group profits should grow at a 22 per cent CAGR over FY22-24. Combination of healthy growth, rebalancing portfolio and vertical split can aid re-rating.

Aditya Birla Capital: Overweight

Morgan Stanley maintained its overweight stance on Aditya Birla Capital with a target price of Rs 158 that translates into an upside of 35 per cent from Rs 117 recorded on 6 December.

The global investment bank increases earnings per share (EPS) estimates by 1 per cent for FY22, and 4 per cent each for FY23 & FY24.

Morgan Stanley also raised earnings estimates on higher loan growth assumption and better net interest margins (NIMs).

(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.)