Hot Stocks: Brokerages on Mankind Pharma, Lupin, MGL, Zomato, Godrej Consumer

While brokerage firm Antique has initiated a buy on Mankind Pharma, Macquarie has given an outperform rating on Lupin. Nomura has maintained buy on MGL and BofA Securities has preferred to remain neutral on Zomato. Jefferies has a buy for Godrej Consumer.

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

Antique on Mankind Pharma: Initiate Buy | Target Rs 1,584
Antique initiated coverage on Mankind Pharma with a target of Rs 1,584. The pharma company is a market leader in Tier II-IV towns. Metro and Tier-I cities are likely to be the new growth frontiers. The brokerage firm expects India's business to grow at ~13% CAGR for the next 3 years. “We like Mankind's India franchise given its diversified therapy mix and brand contributions,” said the note.


Macquarie on Lupin: Outperform | Target Rs 790
Macquarie maintained an outperform rating on Lupin with a target price of Rs 790. Q4 revenue/EBITDA/PAT have all been better than expected, which is a positive sign. The company has reported a revenue beat primarily driven by higher-than-expected revenue for the API business and other operating income. EBITDA beat was primarily driven by the revenue beat. The net profit was driven by the EBITDA beat and lower-than-expected tax expenses.

Nomura on MGL: Buy | Target Rs 1,295
Nomura maintained a buy rating on MGL with a target price of Rs 1,295. The company delivers the second-highest-ever gross margin. The outlook remains attractive and valuations are unyielding. The management is optimistic about volume growth of 5-6% and unit margins of Rs 9-10/scm.

BofA Securities on Zomato: Neutral | Target Rs 72
BofA Securities has maintained a neutral rating on Zomato with a target price of Rs 72. The global brokerage firm expects ONDC to remain as a key platform in space. Currently, not bullish of it garnering a large market share in the food delivery space.

“High-end users on Zomato/Swiggy are sensitive on delivery times & not necessarily very price sensitive. Tech of Zomato/Swiggy gives them better control on the time utilization of delivery guys,” said the note. “We expect news flow on ONDC to continue; may keep Zomato stock price volatile,” the note added.

Jefferies on Godrej Consumer: Buy| Target Rs 1,200
Jefferies maintained a buy rating on Godrej Consumer with a target price of Rs 1200. GCPL will also host its maiden in-person analyst meet since CEO Sudhir Sitapati took over in October 2021. Shareholders will need clarity on – the India roadmap related to HI business, the timeline of Indo business turnaround, growth outlook and progress on the portfolio, diversification towards FMCG, and views on future M&A and capital allocation philosophy.

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