ultratech cement: Hot Stocks: Brokerages on Au Small Finance Bank, Havells India, UltraTech Cement and IndusInd Bank

Global brokerage firm Credit Suisse maintained an underperform rating on and outperform rating on Havells India; BofA Securities retained a buy call on , and CLSA maintained an outperform rating on .

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Credit Suisse on AU Small Finance Bank: Undeperform | Target Rs 530

Credit Suisse maintained an underperform rating on AU Small Bank with a target price of Rs 530. Net Interest Margins (NIMs) were aided by capital raise, the brokerage said.

The management guided for FY23E growth of 25-30%. The global investment bank expects the valuation premium to contract.

Credit Suisse on : Outperform | Target Rs 1500

Credit Suisse maintained an outperform rating on Havells India with a target price of Rs 1500. Transient margin impact across segments, it said.

The performance is partly driven by commodity volatility. The global investment bank sees a strengthening presence in electrical appliances which is a positive sign. It expects a tailwind from a commodity price decline.

BofA Securities on IndusInd Bank: Buy | Target Rs 1400

BofA Securities maintained a buy rating on IndusInd Bank with a target price of Rs 1400. “Normalization is on track. The company recorded the best-ever H1 disbursement,” the brokerage said.

The global investment bank expects 20% growth in FY23.

CLSA on IndusInd Bank: Downgrade to outperform | Target Rs 1400

CLSA downgraded IndusInd Bank to outperform rating with a target price of Rs 1400. The stock is trading closer to fair multiples, CLSA said.

Going forward, liability improvement will be the key factor to focus on, it added.

CLSA on Cements: Outperform | Target Rs 7200

CLSA maintained an outperform rating on UltraTech Cements with a target price of Rs 7200.

“Operating performance for the quarter ended September was better than its peers. Q2 was largely in line with estimates and the demand outlook is also looking strong,” the brokerage said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)