Brokerage radar: Brokerage firms have released their reports about shares of 6 companies before the start of the trade of 24 January today. These include stocks like UltraTech Cement, BPCL, Dr. Reddy’s, Indus Towers, HPCL and Sona BLW. Brokerage has assessed the quarterly results of these companies. Let us know what is the opinion about these shares of brokerage and what target price they have given to it.
1. Ultratech Cement
Foreign brokerage firm Jefferies has fixed a target price of Rs 13,265 per share for this, giving the stock a ‘BUY’ rating. Brokerage says that there has been a widespread improvement in the third quarter and recently, in the fourth quarter (Q4), Ebitda can go up to ₹ 1,100-1,150 per tonne in the fourth quarter (Q4). Brokerage is expected to grow 14% volume growth from FY 2024 to 2027.
At the same time, Nuvama has advised to hold it and has fixed a target price of Rs 11,574 for this. According to him, keeping in mind the atmosphere related to demand and price, the financial year 2025 to 2027 has a mild improvement of 1%.
Dam Capital has also advised to buy Ultratech shares and has fixed its turgut price ₹ 12,550 per share. He believes that the Indian cement sector will get relief from the government infrastructure investment and increase in market share.
Equirus has also given a long call on Ultratech and has kept a target of ₹ 13,490, describing it as its top choice. It has described the company’s strong cash flow and timely capacity expansion as the main positive aspect.
2. BPCL (BPCL)
The brokerage firm CLSA has increased the rating of this stock from the underperform to ‘hold’ and has fixed a target price of Rs 271.2. According to his report, the performance was weak due to refining deficit and inventory expenses in the third quarter, but the government is expected to compensate as LPG subsidy.
On the other hand, Morgan Stanley has fixed a target price of Rs 419 for the BPCL shares by rating the overweight. He believes that domestic development and government subsidies will strengthen the company.
3. Indus towers
On Indus Towers, CITI has given a target price of Rs 485 recommending the purchase. He has described the improvement in cash flow and tenancy as positive during the December quarter. According to him, free cash flow in the second half of FY 2025 can be Rs 20 per share, which can be paid as a completely dividend.
4. Dr. Reddy’s (Dr Reddy’s)
HSBC has advised to hold this stock and fixed a target price of Rs 1,250 for this. The brokerage report described the improvement in revenue from nicotine replacement therapy and R&D income as the main point.
On the other hand, CITI has advised to sell it and has fixed a target price of Rs 1,100. He is of the opinion that the third quarter results were weaker than expected, although they are positive about the company’s long-term.
CLSA has fixed a target price of Rs 1,120, giving Dr. Reddy’s ratings of Underpour. It says that the third quarter sales in the US market were weak, but 15-20 new products are likely to be launched in FY 2026-27.
5. HPCL (HPCL)
CITI has advised to buy in this stock and has a target price of Rs 450 for this. According to his report, Ebitda has increased sharply in the third quarter. However, employee spending and inventory deficit affected the performance.
6. Sona BLW
Brokerage firm Nomura has advised shopping in this stock. But its target price has been reduced to Rs 636. Brokerage says that despite the weakness in the US EV market, growth in India’s EV market will continue and it will be the main source of growth for the company.
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