Hot Stocks: Brokerage view on Aditya Birla Capital, Tata Communications, HDFC Bank and SBI Card

Brokerage firm Jefferies initiated a buy rating on Aditya Birla Capital while CLSA maintained an outperform rating on Tata Communications. Also, Jefferies has a buy rating on HDFC Bank while Morgan Stanley maintains an overweight rating on SBI Card.

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

Jefferies on Aditya Birla Capital: Buy| Target Rs 215

Jefferies initiated a buy rating on Aditya Birla Capital with a target price of Rs 215.


The global investment bank believes that AB Capital is poised to post double profits in the next 3 years. The NBFC firm can gain from MSME lending opportunities.

Over FY23-26, the global investment bank saw a 29% EPS CAGR & a lift in ROE to 16% at the NBFC.

In the life insurance segment, the company is seeing strong APE growth, and better VNB margins due to scale gains which can drive 26% VNB CAGR. The overall valuations seem reasonable.

CLSA on Tata Communications: Outperform| Target Rs 2045

CLSA maintained an outperform rating on Tata Communications but raised the target price to Rs 2045 from Rs 1800 earlier factoring in Kaleyra acquisition.

Kaleyra leads to 9-16% upgrade in Tata Communications data revenue.

Tata Communications is a compelling enterprise data business play. The stock is up 60% in the last 12 months, hence maintaining an outperform rating.

Jefferies on HDFC Bank: Buy| Target Rs 2030

Jefferies maintained a buy rating on HDFC Bank with a target price of Rs 2030. HDFC Bank is the 7th largest bank in the world by market capitalization.

It has a track record of high growth and compounding. The global investment bank sees a 17% CAGR in earnings over the next 3 years and an ROE of 17% from FY25.

Growth is well ahead of global banks' i.e. at the rate of 3-7% CAGR.

Morgan Stanley on SBI Card: Overweight| Target Rs 1115

Morgan Stanley maintained an overweight rating on SBI Card with a target price of Rs 1115. Industry spending growth was 32% YoY in August and SBI Card grew faster.

The growth was marginally slower on a month-on-month basis in cards.

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