Hot Stocks: Brokerages on Asian Paints, HCL Tech, Wipro, Maruti, Biocon and ITC

Brokerage firm CLSA maintained a sell rating on Maruti while outperform on Wipro and ITC. JP Morgan, meanwhile, maintained an overweight rating on Asian Paints.

Global brokerage firm Morgan Stanley upgraded HCL Tech to overweight, while Macquarie maintained outperform rating on HCL Tech and Citi maintained a sell call on Wipro.

JP Morgan on Asian Paints: Overweight | Target Rs 3450

JP Morgan maintained an overweight rating on Asian paints with a target price of Rs 3,450. It sees medium-term EBITDA at 18-20 per cent.

The stock’s competitive position continues to strengthen and revenue aggression stays intact. Asian Paints is eyeing a larger play in home improvement, it said.

CLSA on Maruti: Sell | Target Rs 7597
CLSA maintained a sell call on Maruti Suzuki with a target price of Rs 7,597. It sees demand moderation likely in FY24.

The stock’s SUV segment share to increase going ahead. The brokerage increases EBITDA estimates by 11-12 per cent for FY 23-24.

Morgan Stanley on HCL Tech: Overweight| Target Rs 1000
Morgan Stanley upgraded HCL Technologies to overweight from underweight call with a target price of Rs 1,000.

HCL Tech's risk-reward is favourable and improving EBIT growth should drive re-rating, it said.


Macquarie on HCL Tech: Outperform | Target Rs 1420
Macquarie maintained outperform rating on HCL Technologies with a target price of Rs 1,420.

The stock is a good beat on all counts with no one-off, it said.

CLSA on Wipro: Outperform | Target Rs 450
CLSA maintained an outperform ratingon Wipro with a target price of Rs 450.

The brokerage sees stock’s Q2FY23 results were in-line with estimates and it is hopeful for FY23 commentary. Also, it is conservative on Q3FY23 guidance,

Citi on Wipro: Sell | Target Rs 370

Citi maintained a sell rating on Wipro with a target price of Rs 370. The brokerage sees Q3 growth guidance below expectations.
CLSA on ITC: Outperform | Target Rs 355
CLSA maintained an outperform rating on ITC with a target price of Rs 355.

The stock’s rural network is crucial for ESG efforts. Strengthening ITC's ESG efforts and its programme should aid in scaling up ITC's mega 'Aashirvaad' brand. It said


BofA on Biocon: Buy | Target Rs 415
BofA maintained a buy call on Biocon with a target price of Rs 415. The brokerage sees a positive trend in the existing portfolio and earnings catalyst in the next few quarters.

Stock's recent underperformance provides an attractive buying opportunity, it said.

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