Which stocks to buy, hold or sell today? As Dalal Street enters the March 23 session, here’s a look at what brokerages make of some of the key stocks in focus. Stocks such as GAIL, Hindustan Aeronautics, TVS Motor, and Asian Paints are on their radar.
Do you have any of these stocks in your portfolio?
Check out the full list of brokerage calls on GAIL, Hindustan Aeronautics, TVS Motor, Asian Paints, IndusInd Bank and Mahindra & Mahindra:
GAIL shares
JP Morgan maintains a ‘neutral’ call on GAIL and raises its target from Rs 105 to Rs 115. According to brokerage, post-tariff hike and lower spot LNG prices are positive but earnings will remain volatile. With a combination of new tariff orders & sharply lower spot LNG prices, earnings should improve sharply.
Jefferies double upgrades Bharti Airtel to ‘buy’ from ‘hold’, and raises its target price for the telecom major’s stock to Rs 900 from Rs 850. According to the brokerage, the company’s market share gain in 4G subscribers, hikes in voice tariffs and improving tariff outlook should help it drive 13 per cent growth in its mobile average revenue per user (ARPU) over the three years ending March 2025.
Jefferies also says that Bharti Airtel’s market share gains are likely to accelerate amid 5G rollouts. The brokerage expects Bharti Airtel to take up a single tariff hike till March 2025. It estimates the tariff hike to be of the tune of 15 per cent towards the end of 2023.
Morgan Stanley maintains overweight on GAIL and targets Rs 124. The brokerage says that the new integrated tariff implies a 36 per cent increase and implies Rs20 billion in revenues & 14% or 12% upside to street F24 & F25 EPS estimated.
While brokerage Jefferies maintains hold on GAIL, target raised to Rs 110 from Rs 90.
Hindustan Aeronautics shares
Morgan Stanley maintains overweight and targets at Rs 3216. The brokerage says that OFS floor price of Rs 2,450 per share for a maximum 3.5 per cent stake sale. The above development would increase the free float of the stock. At OFS floor price, the stock is valued at P/Es of 17.4x & 15.4x and brokerage EPS estimation for F24 & F25.
TVS Motor Co shares
Jefferies maintains ‘buy’ and targets Rs 1550. TVS, with its timely focus on EVs, has risen to the number two position in E2Ws in recent months. With its market share in E2Ws approaching that in ICE scooters, TVS is turning electrification risk into an opportunity however weak 2W demand in both India & exports is hurting, but believe TVS is well-placed to benefit as the industry recovers.
Asian Paints shares
Jefferies maintains underperform, target cut to Rs 2500 from Rs 2570. A potential tailwind from input price deflation is an opportunity to sell. Competition from Grasim is just 12 months away which clouds a medium term outlook on growth & margins.
According to brokerAGE, the fourth quarter should see better margin trends, estimates GMs to inch up to over 40 per cent.
IndusInd Bank shares
Jefferies maintains ‘buy’ and targeted at RS 1,550 while Macquarie maintains outperform, targets at Rs 1510.
Mahindra & Mahindra shares
JP Morgan maintains an overweight, target at Rs 1520. EV fundraising continues this time in the last-mile mobility business which enables M&M to maintain its strong position in the EV 3W segment, where EV penetration is rising at a rapid pace.
