Should you buy, sell or hold Eicher Motors, Grasim, Bharat Forge, Siemens shares? Here's what analysts suggest

A day after their quarterly earnings, brokerages have come out with their rating and target price on half-a-dozen stocks.

Among them, most brokerages remain positive on Eicher Motors after the auto major reported a 62 per cent jump in its quarterly profit. They are also upbeat on Grasim but divided on Bharat Forge and Siemens.

Here's what global brokerages make of some of the key stocks in focus today:

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Eicher Motors

Most brokerages are upbeat on Royal Enfield maker Eicher Motors, while others gave either a Neutral or Hold rating on the stock.

CLSA expects RE volumes to see double-digit growth along with margin expansion through price hikes and operating leverage. Morgan Stanley mentioned the company gained market share after the launch of Hunter, but margins and market share are likely to peak in 2023.

Grasim

Despite reporting a fall in standalone profit by 51 per cent for the December quarter, brokerages are bullish on Grasim.

Jefferies said the Aditya Birla Group company reported a large miss in Q3 EBITDA, however, progress is on track for the keenly watched paints segment, supposed to be launched in Q4FY24

Grasim’s standalone EBITDA missed estimated, mainly led by weakness in both VSF and chemicals businesses as both volumes & realizations surprised negatively, as per Morgan Stanley.

Bharat Forge

Global brokerages are divided on Bharat Forge shares despite reporting better than estimated numbers for the December quarter of FY23. According to CLSA, the company beat standalone estimates and revenue rose on higher-than-expected shipments and export revenue.

Nomura gave a double downgrade on stock to Neutral from Buy as it expects a cyclical slowdown in traditional business likely.

Siemens

Nomura maintained a ‘neutral’ rating, while Macquarie had an ‘outperform’ stance on Siemens.

ICICI Pru Life

Macquarie maintains an ‘outperform’ rating on ICICI Pru Life with a target price of Rs 580 per share. It said, the annual premium equivalent (APE) & value of new business (VNB) impact around 6 per cent but confident of bringing it down.

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