Updated : March 30, 2021 08:30 AM IST
Among brokerages, Bernstein is bullish on RIL on expectations of a sharp rise in EBITDA. Meanwhile, Morgan Stanley cut the target for Hero Moto and Eicher Motors among 2-wheelers and Maruti and Ashok Leyland among other auto stocks. Here are the top brokerage calls for today:
Bernstein on RIL: The brokerage maintains an ‘outperform’ rating on the stock with a target at Rs 2,470 per share. It expects a sharp increase in EBITDA in FY22 as mobility global starts to recover.
Morgan Stanley on 2-wheelers: Factoring in EV downside risks, the brokerage cuts target for Hero Moto and Eicher Motors. It also downgraded Hero Moto to ‘underweight’ and maintains the same for TVS Motor.
Morgan Stanley on Auto: Demand volatility and stiff competition to curb the ability of cos to navigate headwinds, says the brokerage. It cuts target for Mauti and Ashok Leyland while remaining ‘overweight’ on both the stocks.
CLSA on Steel: The brokerage believes the recent steel rally has more steam. It raises the target for both JSW Steel and Tata Steel. It also upgraded JSW Steel to ‘outperform’ from the ‘sell’ rating earlier.
JPMorgan on Steel: The brokerage increases the target price for Tata Steel, JSW Steel and SAIL. It also increased FY21-23 estimates for steel companies by 10-35 percent.
Macquarie on Cement: The brokerage has UltraTech as a top pick in cement space and it downgrades Shree Cement to Neutral. It also raised FY22 and FY23 EBITDA estimates by 0-6 percent and 2-6 percent, respectively for cement firms.
Published : March 30, 2021 08:30 AM IST