We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA: IRB Infrastructure and L&T
CLSA maintained its buy call on IRB Infrastructure and L&T. The global investment bank is of the view that the government CAPEX is likely to pick up ahead of elections.
“There is a possibility of margin expansion on materials price fall,” said the note. “Our covered E&C companies outperformed the indices in 2022,” it added.
CLSA maintained its buy call on IRB Infrastructure with a target price of Rs 360 which translates into an upside of about 20% from Rs 300 recorded on January 11, 2023.
CLSA maintained its buy call on L&T with a target price of Rs 2570 which translates into an upside of over 21% from Rs 2124 recorded on January 11, 2023.
JPMorgan on Ambuja Cements: Neutral| Target Rs 490
JPMorgan maintained its neutral rating on Ambuja Cements with a target price of Rs 490.
Ambuja Cement’s stock price has sharply declined from its December peak. The recent stock price decline mirrors the fall seen in many Adani Group companies.
“Valuations have moderated post-stock price decline,” said the note.
ICICIdirect on garden Reach: Buy| Target Rs 630
ICICIdirect initiated coverage on Garden Reach Shipbuilders with a buy rating and a target price of Rs 630 which translates into an upside of over 30% in the next one year from Rs 465 recorded on January 11, 2023.
Garden Reach Shipbuilders & Engineers (
), one of India’s leading defence public sector undertaking shipyards, primarily caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.
“Revenue recognition is set to increase during FY22-25E in its major contracts. Moreover, pick-up in execution will be supported by increasing indigenisation of platforms/sub-systems,” 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)