Brokerage Radar: On the first day of the new year, share sectors of many companies are on the radar of brokerage firms. These include names like Tata Chemical and Transport Corporation. Apart from this, brokerage firms have also released their reports regarding NBFC, real estate and two-wheelers segments. Due to these reports, shares of these companies remain in focus today on January 1. Let us know what is the opinion of brokerage firms about these shares and what target price they have set for them.
1. Tata Chemical
Brokerage firm HSBC has given ‘Reduce’ rating to this stock and has set a target price of Rs 820 per share for it. The brokerage says the Minimum Import Price (MIP) for soda ash in India is a positive development in a challenging market. MIP protects domestic companies from further decline in global soda ash prices. Having a minimum import price can have a positive impact on volumes. Industry demand is expected to remain sluggish amid excess supply.
2. Transport Corporation
Brokerage firm Equirus has advised to remain long on this stock and has set a target price of Rs 1,395 per share. The brokerage says freight traffic will see modest growth amid pressure on margins and modal shift in cargo from road to rail. The prospects for supply chain solutions are looking good as the logistics industry continues to evolve. The Indian government’s emphasis on coastal shipping and new ship orders will benefit sea routes. The company’s revenue and net profit may see a growth of 12% and 15% respectively during FY24-FY27.
3. Nomura’s opinion on NBFC sector
The brokerage said that Shriram Housing Finance remains its favorite stock in the NBFC sector. Apart from this, it has also advised to buy Aadhaar, Five Star and LIC Housing Finance. On the other hand, it has expressed negative stance on SBI Cards and M&M Finance. Whereas it has given reduce rating to the shares of CreditAccess Grameen, Cholamandalam Investment and Bajaj Finance.
4. Antique’s opinion on real estate sector
The brokerage said that Aditya Birla Real Estate and Oberoi Realty are its favorite stocks in the real estate sector. It said third quarter sales bookings for AB Realty, Prestige, Sobha, Sunteck Realty and Kolte-Patil may remain sluggish. Good results are expected from Godrej Properties, Macrotech Developers, DLF, Oberoi and Brigade. Godrej Properties, DLF, Brigade Ant, Sunteck Realty and Kolte-Patil are expected to witness a surge in launches in the fourth quarter.
5. Emkay’s opinion on two-wheelers segment
Brokerage firm Emke says shares of two-wheeler companies have fallen by an average of 24% from the recent peak. The huge decline of 33%/30% for Hero MotoCorp/Bajaj Auto cannot be justified at all. The outlook for exports is improving and is headed towards rapid recovery. Macro challenges in highly underpenetrated key African markets such as Nigeria are now largely behind us. Continuous growth is being seen in Latin America.
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