Hot Stocks: Brokerages on Britannia, IndusInd Bank, Bank of India and Aditya Birla Fashion

Brokerage firm Jefferies maintained a buy rating on Britannia Industries and IndusInd Bank. Meanwhile, Morgan Stanley remained overweight on Bank of India, although it has an underweight stance on Aditya Birla Fashion.

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

Morgan Stanley on Britannia Industries: Buy| Target Rs 5300
Morgan Stanley maintained a buy rating on Britannia Industries with a target price of Rs 5300. The company beat estimates which were entirely margin-led.


"Britannia Industries gave lower guidance for FY24. The management focus is to build for the next 100 years, unlike investors who may overemphasize short-term margins," said the note.

Jefferies on IndusInd Bank: Buy| Target Rs 1550
Jefferies maintained a buy rating on IndusInd Bank with a target of Rs 1550. The resignation of the CRO shouldn't warrant such price correction, it said.

The global investment bank sees valuations attractive at 1.3x FY24E Adj PB.

Morgan Stanley on Bank of India: Overweight| Target Rs 125
Morgan Stanley maintained an overweight stance on the Bank of India with a target price of Rs 125. Net profit miss was mainly owing to higher staff costs, it observed.

The asset quality trends were broadly in line with estimates. The balance sheet is one of the best amongst coverage SoE banks, said the brokerage note.

Morgan Stanley on Aditya Birla Fashion: Underweight| Target Rs 195
Morgan Stanley maintained an underweight rating on Aditya Birla Fashion with a target price of Rs 195.

Given the structure of the deal and the pending cash inflow, the balance sheet impact could be lower than feared, it said.

With most of its businesses still in the 'work-in-progress' and growth phases, we worry about execution challenges, it added.

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