Brokerage Radar: Shares of 5 companies are on the radar of brokerage firms today. These include HCL Technologies, United Spirits, BSE, Biocon and Mahaganer Gas. HCL Technologies has released its third quarter results a day earlier. Due to the brokerage report, shares of these companies remain in focus today. Let us know what the brokerage’s opinion is about these shares and what target prices they have set for them-
1. HCL Tech
Brokerage firm CLSA has given a hold rating to this stock and has kept its target price at Rs 1,882 per share. The brokerage said the company presented its December quarter results as per expectations. But there has been a slight cut in constant currency revenue growth guidance for FY25. However, better demand is being seen in small deals.
On the other hand, Nomura has advised to buy this stock and has set a target price of Rs 2000 for it. Nomura says Q3 results were mixed, but FY25 growth guidance has improved due to the CTE acquisition by HBO.
Foreign brokerage firm Jefferies has advised hold on this stock and has set a target price of Rs 2,060 for it. According to him, profit in the third quarter was better than expected, but revenue growth was slightly weak. Apart from this, Morgan Stanley has given equal-weight call on HCL Tech and has fixed its target price at Rs 1,970.
2. United Spirits
Foreign brokerage firm Macquarie has given this stock an underperform rating and has set a target of Rs 1,175 per share. The brokerage in its report has mentioned the resignation of Heena Nagarajan and the appointment of Praveen Someshwar as the new CEO. Praveen Someshwar has extensive experience at HT Media and PepsiCo, but will be critical in his focus on the management transition during this transition.
Regarding BSE, Jefferies has increased its rating and advised Hold and has set its target price at Rs 5,250. Option volumes have fallen by 70% due to SEBI’s new F&O rules, but the company’s margins have improved due to better premium quality.
4. Maharashtra Natural Gas Limited (MGL)
Morgan Stanley has given overweight rating on the shares of Maharashtra Natural Gas Limited (MGL) and has kept its target price at ₹ 1,606 per share. The brokerage says that considering the energy needs of Mumbai, the adoption of natural gas will prove to be positive for the company in the long run.
5. Biocon
Brokerage firm HSBC has advised to buy this stock and has set a target price of Rs 430 per share for it. The brokerage said that the approval of the Malaysia plant by the USFDA and the new launch of biosimilars are expected to drive the company’s operational turnaround.
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