Hot Stocks: Brokerage view on Grasim, Bajaj Finance, MCX and Hindustan Zinc

Brokerage firm Morgan Stanley maintained an overweight rating on Grasim Industries, Jefferies has a buy rating on Bajaj Finance and Morgan Stanley retained its underweight rating on MCX.

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

Morgan Stanley on Grasim Industries: Overweight| Target Rs 1910

Morgan Stanley maintained an overweight rating on Grasim Industries with a target price of Rs 1910. “The fundraising announcement by AB Capital was unexpected,” it said.

The global investment bank does not see any material impact given its balance sheet strength.

“We await the company's FY24 capex/capital allocation plan and details around future funding sources,” it said. Grasim still plans to invest Rs 7,500 cr in its paints business.

Jefferies on Bajaj Finance: Buy | Target Rs 8310
Jefferies maintained a buy rating on Bajaj Finance with a target price of Rs 8310. According to Jefferies, Rajeev Jain (CEO) made a refreshing presentation at the India forum.

“Bajaj Finance drives over half of the consumer loans in India. The new loan verticals are being built with a 10-year view,” it said.

“The new loan verticals are balanced between secured/unsecured and profit/scale. Digital platforms aim to raise engagement,” it added.

Morgan Stanley on MCX: Underweight| Target Rs 1125
Morgan Stanley maintained an underweight rating on MCX with a target price of Rs 1125. “The average daily traded value is a key driver of MCX's profits and share price,” the brokerage said.

“In May 2023, ADTV (futures + 50% *options) was up ~16% MOM to Rs 52,400 cr

Growth owing to higher volumes in options,” it said.

Motilal Oswal on Hindustan Zinc: Neutral| Target Rs 300
Motilal Oswal maintained a neutral rating on Hindustan Zinc with a target price of Rs 300.

“Hindustan Zinc (HZL) is India’s largest and the world’s second-largest integrated zinc producer and is one of the lowest-cost producers of zinc globally. HZL is a 65% subsidiary of VEDL and 30% of its stake is held by the government,” it said.

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