Hot Stocks: Brokerages on Axis Bank, UltraTech Cement, and Shree Cement

Brokerage firm BofA Securities has a buy rating on Axis Bank, and Citigroup has initiated overweight call on UltraTech Cements and underweight on Shree Cements.

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

BofA Securities on Axis Bank: Buy | Target Rs 1150

BofA Securities maintained a buy rating on Axis Bank with a target price of Rs 1150.


“Citi India retail acquisition was completed in time and at a lower price. Execution in the next 18 months will be crucial for Axis Bank,” BofA said.

Macquarie on Axis Bank: Neutral | Target Rs 790

Macquarie maintained a neutral rating on Axis Bank with a target price of Rs 790. Citi Bank business has seen a significant decline over the past 21 months.

“The Rs 11,600 cr goodwill write-off in Q4, and the return on equity (ROE) accretion will only get triggered from FY26,” Macquarie said.

“Integration expenses will push Citi Bank's business profits out to FY26. Delivery on growth will be imperative for the transaction to be a success in our view,” said the note.

Citi on Cement: Pair trade in UltraTech and Shree Cements

Citigroup maintained its overweight stance on UltraTech Cements and underweight rating on Shree Cements. The global investment bank initiates a pair trade.

According to Citigroup, Shree Cement's valuations suggest a fair bit of optimism around the industry being priced in and its stock will likely underperform UltraTech Cement on Cement price disappointment going forward.

“Understand prices have been hiked; however, higher prices may not sustain as the Industry focuses on volumes in March,” it said.

“In the medium-term, we think that prices should be range bound given upcoming supply,” it added.

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