Hot Stocks: Brokerages view on Manappuram Finance, Bharti Airtel and Pidilite Industries

Global brokerage firm BofA Securities maintained a buy rating on Manappuram Finance, Morgan Stanley had an overweight rating on Bharti Airtel, and JPMorgan remained underweight on Pidilite Industries.

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

BofA Securities on Manappuram Finance: Buy | Target Rs 140

BofA Securities maintained a buy rating on Manappuram Finance with a target of Rs 140.

“The focus should be on portfolio diversification. The company is witnessing a strong growth outlook in the non-gold business. FY24 target includes 20% consolidated growth supported by non-gold,” BofA said.

“MGFL reiterated the focus on eliminating concentration risk,” it added.

Motilal Oswal on Manappuram Finance: Buy | Target Rs 150
Motilal Oswal maintained a buy rating on Manappuram Finance with a target price of Rs 150. The management said that it is making rapid progress in transforming MGFL into a diversified NBFC, with gold loans contributing over 50% of consolidated AUM.

“It has guided for a 20% CAGR in consolidated AUM and a consolidated RoE of 20% in the medium term,” said the note.

Morgan Stanley on Bharti Airtel: Overweight| Target Rs 860
Morgan Stanley maintained an overweight rating on Bharti Airtel with a target of Rs 860.

“Bharti Airtel's new postpaid family pack plan fills a void in the market for a lower number of add-on connections. But, it is not more competitive than Jio's new postpaid plans,” the investment bank said.

“Plan is accretive to ARPU compared with its existing family packs. The new family postpaid plan could be filling the gap in the market” it added.

JPMorgan on Pidilite Industries: Underweight | Target Rs 2150
JPMorgan maintained an underweight rating on Pidilite Industries with a target of Rs 2150.

“Augmenting efforts to drive up the topline growth. Margin recovery is well reflected in earnings/valuations. Demand trends are steady, but rural is yet to recover fully,” it said

“The global investment bank finds the current valuations at 65x/55x FY24/25E P/E expensive,” it added.

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