Should you buy, sell or hold Tech Mahindra, Nykaa, MGL, oil stocks?
Brokerages have reviewed their ratings on Britannia, Mahanagar Gas Ltd (MGL), GAIL, Tech Mahindra, Nykaa and a few stocks from the oil & gas basket. They are divided on Britannia Industries with a downgrade to ‘sell’ from ‘underperform’ by CLSA and a reiterated 'buy' by Nomura. Here's how the brokerages rate these stocks a day ahead of the Holi holiday:
Brokerages have reviewed their ratings on a slew of stocks including Britannia, Mahanagar Gas, GAIL, Tech Mahindra and Nykaa as Dalal Street enters a holiday-truncated week. They are divided on Britannia Industries with a downgrade to ‘sell’ from ‘underperform’ by CLSA and a reiterated 'buy' by Nomura, and are positive on stocks such as ONGC, Oil India and Reliance after the government's latest action on the windfall tax.
Here's how the brokerages rate stocks such as Britannia, Tech Mahindra, GAIL, ONGC and MGL a day ahead of the Holi holiday:
According to CLSA, high inflation in wheat and milk is likely to impact the Bengaluru-based FMCG company's margin. The brokerage has reduced its target price for the Britannia stock to Rs 4,060 from Rs 4,525.
Citi has retained a ‘buy’ rating on Mahanagar Gas with a target of Rs 1,030 per share. The gas distribution company has made its inorganic foray by acquiring a 100 per cent stake in Ashoka Buildcon arm Unison Enviro.
CLSA on oil & gas space
CLSA has given a ‘buy’ rating on upstream companies such as ONGC, Oil India and Reliance.
|Oil India||Buy||Rs 300|
The government has slashed the windfall profit tax on diesel exports to a record Re 0.5 per litre. It has removed the levy on jet fuel (ATF) and raised it marginally on domestically-produced crude oil.
CLSA expects Tech Mahindra to report a weaker set of finanical results than peers for the quarter ending March 2023.
|Morgan Stanley||Overweight||Rs 1,120|
Macquarie has initiated coverage on Nykaa with an ‘underperform’ rating and a target price of Rs 115 per share.
According to the brokerage, the company faces a risk to the beauty segment margin as growth moves to smaller towns. In the fashion segment, experience from physical retail makes the brokerage cautious on the company’s owned brand focus and curation-led positioning.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.