Hot Stocks: Brokerage on Tech Mahindra, Sun Pharma, and Nykaa

Global brokerage firm Macquarie maintained an outperform rating on Tech Mahindra, Morgan Stanley retained an overweight rating on Sun Pharma and BofA upgraded Nykaa to a buy.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Macquarie on Tech Mahindra: Outperform | Target Rs 1230

Macquarie maintained an outperform rating on Tech Mahindra with a target price of Rs 1230.


Another brokerage firm BofA maintained a buy call on Tech Mahindra with a target of Rs 1180. Deal closures need watching in the forthcoming quarters, the brokerage said.

Margins were largely in-line in Q2. Operating leverage remains key for an uptick in H2, it added.

Morgan Stanley on Sun Pharma: Overweight | Target Rs 1150
Morgan Stanley maintained an overweight rating on Sun Pharma with a target price of Rs 1150. It reported a strong Q2FY23, the brokerage said.

BofA on Nykaa: Buy| Target Rs 1555
BofA upgraded Nykaa to buy with a target price of Rs 1555. The company is well placed to sustain revenue growth and margin improvement, BofA said.

The company reported a strong EBITDA beat. The stock has underperformed recently, but the company has solid fundamentals, and best-in-class execution, the brokerage added.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)