Hot Stocks: Brokerage view on Varun Beverages, Bharti Airtel; Paytm gets 'outperform' rating

Brokerage firm Bernstein recommended an outperform rating on Paytm, Jefferies has a buy view on Varun Beverages, Macquarie recommended an outperform on Bharti Airtel and Macquarie has a neutral rating on Kasai Nerolac.

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

Bernstein on Paytm: Outperform| Target Rs 600

Bernstein maintained an outperform rating on Paytm with a target price of Rs 600. After >40% decline in the last few days, the stock is once again back at the near doomsday valuations.


“We would lean towards the 'buy now' camp. We see a healthy upside in our very conservative base case scenario,” said the note.

Regulatory action will no doubt have a lasting impact on investors' assessment of the business model risk and of the management's ability to handle regulatory risk.

Bernstein expects the company to successfully execute the operational changes required to overcome the restrictions.

Jefferies on Varun Beverages: Buy| Target Rs 1480

Jefferies maintained a buy rating on Vrun Beverages but raised the target price to Rs 1480 from Rs 1450 earlier.

The Q3 performance was a huge contrast to every other FMCG company. The stock ended the year (2023) on a high, although in a seasonally low quarter.

The debt levels have swelled as capex continues to stay high. Varun Beverages is set to expand capacity by 45% for CY24 (vs. CY22 level) - gearing also stays under control.

Macquarie on Bharti Airtel: Outperform| Target Rs 990

Macquarie maintained an outperform rating on Bharti Airtel with a target price of Rs 990.

The company has showcased a steady execution in India mobile; Enterprise and Africa is a drag.

The growth deceleration in India Enterprise drives EBIT miss. The Q3 results again underscore Bharti's focus on its premiumisation strategy.

The strategy driving higher blended ARPU and positive operating leverage.

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