Should you buy, sell or hold Bajaj Auto, Cipla, Larsen & Toubro, Grasim, power stocks?

Brokerages have shared their ratings and target prices for a slew of stocks ranging from spaces including auto and power. They are upbeat on Bajaj Auto, L&T, Grasim and a few power stocks, and skeptical on Cipla.

Here's how the brokerages' rate stocks such as Bajaj Auto, Cipla, L&T, Grasim, NTPC and JSW Steel:

Bajaj Auto shares

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JPMorgan maintains an ‘overweight’ rating on Bajaj Auto with a target of Rs 4,400 per share. The brokerage believes a favourable risk reward and catalysts are lining up for the auto maker. The company will be launching several two-wheeler electric vehicle models in the coming quarters, it points out.

Bajaj Auto’s two- and three-wheeler exports have declined 27 per cent so far in 2023 but appear to be bottoming out, JPMorgan adds.

Cipla shares

Jefferies maintains a ‘hold’ rating on Cipla but reduces its target price to Rs 900 from Rs 1,100. The bear case scenario is considered mainly due to the absence of big launches in the US market for the next two years, according to the brokerage.

The stock, however, is still away from a bear case value target of Rs 740 per share despite a sharp fall.

Larsen & Toubro (L&T) shares

Morgan Stanley retains an ‘overweight’ rating on L&T and raises its target price to Rs 2,847 from Rs 2,401. The brokerage sees strong evidence that the capex cycle is gaining momentum, and believes long-cycle and diversified EPC companies such as L&T are firmly positioned.

Grasim shares

According to JPMorgan, the Grasim management is confident of the company's foray into paints, and believes its core business growth is on track.

CLSA on power space

CLSA is bullish on the power sector, and prefers inexpensive regulated utilities such as NTPC, NHPC and SJVN citing a better hydro season and more than 30 per cent higher domestic coal stocks.

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