4 stock recommendations by global brokerages
BofA on Aurobindo Pharma
BofA Securities maintains 'buy' rating on Aurobindo Pharma with a target price of Rs 634 per share. Unit-4 VAI status gives a sigh of relief for the company, it said, adding that the US FDA compliance score improves with this development.
JP Morgan on Ashok Leyland
JP Morgan maintains 'neutral' rating on Ashok Leyland with a target price of Rs 75 per share. The company's Q3 disappointed on margin miss. The volume growth recovery remains elusive, the brokerage said. The scrappage policy is a key monitorable, it added.
Macquarie on Bandhan Bank
Macquarie maintains 'underperform' rating on Bandhan Bank with a target price of Rs 470 per share. Macquarie believes that too much is going on both fundamental level & stake-sale level in the bank and therefore, this is not the right time to buy the stock given the uncertainties.
JP Morgan on Indian Hotels
JP Morgan maintains 'overweight' rating on Indian Hotels with a target price of Rs 175 per share. The brokerage said Q3 sees RevPAR recovery across the industry. Mumbai, Delhi, Bangalore and Hyderabad all showed good results.
CLSA on Financials
Banks’ credit quality wait gets longer, CLSA said. The recoveries from NCLT aided Q3 earnings. PSU banks’ performance highlights the consolidation phase as banks prepare for life post-mergers.