Hot stocks: Brokerage view on Coal India, Tata Steel, Maruti Suzuki and M&M

Brokerage firms such as CLSA have an 'Outperform' rating on Coal India, while JP Morgan has an 'Overweight' call on Tata Steel and M&M. BofA has maintained a 'Neutral' rating on Maruti Suzuki.

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

CLSA on Coal India: Outperform | Target price: Rs 580

CLSA has maintained an 'Outperform' rating on Coal India and raised the target price to Rs 580 from Rs 480.


CLSA stated that the first quarter was operationally strong, with lower costs driving the performance beat. Volume growth is expected to remain resilient in the near term, and with a 5% dividend yield, CLSA views the risk-reward as attractive.

JPMorgan on Tata Steel: Overweight | Target price: Rs 190

JPMorgan maintained an Overweight call on Tata Steel with a target price of Rs 190.

JPMorgan said that the first quarter EBITDA beat overall, while India and Europe performed slightly better than expected. The global brokerage doesn’t see any negatives from the Q1 print, however, net debt moved higher by 6% QoQ and the management’s commentary on debt reduction will be important. JP Morgan doesn’t anticipate any major revisions to consensus estimates.

BofA on Maruti Suzuki India: Neutral | Target price: Rs 14,200

Global brokerage Bank of America (BofA) maintained a Neutral rating on Maruti Suzuki and has hiked the target price to Rs 14,200 from Rs 13,800.

The company reported a strong margin delivery in Q1, likely to sustain ahead. Mass segment recovery is likely to be the key to stock performance.

JPMorgan on M&M: Overweight| Target price: Rs 3,210

JPMorgan has maintained an Overweight call on M&M and hiked the target price to Rs 3,210 from Rs 3,160 earlier.

A healthy operating outlook for both Auto and Farm businesses is visible and the global brokerage firm increased their Auto and Farm margins but reduced ASPs slightly.

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