Hot Stocks: Brokerage view on HPCL, L&T and Titan Company

Brokerage firms such as UBS remained positive on HPCL, Jefferies retained its buy rating on L&T and Motilal Oswal also has a buy rating on Titan Company.

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

UBS on OMCs: HPCL preferred buy
UBS remains positive on the OMC space on strong refining and improved marketing which could change fortunes for the sector.


"Integrated margins are at multi-quarter highs. However, declining crude prices alleviates marketing under-recovery concerns," the brokerage said.

The global investment bank reiterated a buy on OMCs, and HPCL remains its most favoured pick. UBS sees HPCL as the biggest beneficiary.

Jefferies on L&T: Buy| Target Rs 2455
Jefferies maintained a buy rating on L&T with a target price of Rs 2455. IDPL Monetisation could add 1.5-2% to FY24E-25E EPS, Jefferies said.

L&T-CPP have sold their 100% stake in L&T IDPL. Buoyant equity markets are helping L&T with its monetisation drive, it added.

The global investment bank believes that valuations point to a re-rating in a historical context.

Motilal Oswal on Titan Company: Buy| Target Rs 2910
Motilal Oswal retained its buy rating on Titan Company with a target price of Rs 2910. Titan remains an attractive investment case in the largecap consumption space in India, with strong earnings growth visibility and compounding ~20% for an elongated period of time.

Expensive valuations in the near term will be burnished by its rapid pace of growth. “We maintain our Buy rating with a target of Rs 2,910 (60x Sep’24 EPS),” said the note.

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