Hot Stocks: Brokerages on Sona BLW, Maruti Suzuki, PVR and Dr Reddy’s Laboratories

Global brokerage firms such as Citigroup maintained its buy rating on Maruti Suzuki India, BofA Securities retained its buy rating on PVR, while Jefferies initiated a buy on Sona BLW and Macquarie has an outperform rating on PVR.

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

Jefferies on Sona BLW: Initiate Buy | Target: Rs 575
Jefferies initiated a buy on Sona BLW with a target of Rs 575. Building blocks for the new auto age. The global investment bank likes Sona's strategy of expanding its component portfolio.


A Large order book provides growth visibility. “We expect 31%/40% revenue/EPS CAGR over FY23-26E,” said the note. Valuations appear rich at 38x FY24E PE, but should sustain, the note added.

Citi on Maruti Suzuki: Buy| Target Rs 12,500
Citigroup maintained its buy rating on Maruti Suzuki with a target of Rs 12,500. “Maruti is the top pick in the Indian autos sector,” the note said.

Market share has bottomed out, and new UV models should boost market share. The semiconductor supply chain should ease out and Maruti Suzuki is well-equipped for the new CAFÉ and OBD II norms, according to the note.

BofA on PVR: Buy | Target: Rs 2,405
BofA Securities maintained its buy rating on PVR with a target price of Rs 2405. The merger is complete and the focus should be on synergies as well as expansion.

Revenue synergies would be related to F&B, box office, and ad revenues. Synergies of PVR-Inox seen post 6-8 months as well as South expansion.

Macquarie on Dr Reddy’s Laboratories: Outperform | Target: Rs 5250
Macquarie maintained an outperform rating on Dr Reddy’s Laboratories with a target price of Rs 5250. Differentiated yet synergistic strategy for each segment. Asset turnover is increasing. The global investment bank increased FY23/24/25 EPS estimates by 7%/3%/1%.

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