Hot Stocks: Brokerages view on ONGC, Oil India, Can Fin Homes and J Kumar Infra

Brokerage firm Emkay maintained a buy rating on ONGC and Oil India, Morgan Stanley remained overweight on Can Fin Homes, and CLSA has a buy rating on J Kumar Infra.

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

Emkay on Oil & Gas: Oil India and ONGC

Emkay maintained a buy rating on ONGC but raised the target price to Rs 250 from Rs 235 earlier.

The brokerage firm maintained a buy rating on Oil India and raised the target price to Rs 445 from Rs 370 earlier.

Despite their strong run-up, the stocks have inexpensive valuations at 5-6x FY25 earnings.

Steady production growth persists for Oil India; NRL expansion on schedule. ONGC - KG-DWN-98/2's first oil is expected soon. ONGC and OIL are well placed at 5-6% on the dividend yield front.

Morgan Stanley on Can Fin Homes: Overweight| Target Rs 1000
Morgan Stanley maintained an overweight rating on Can Fin Homes with a target price of Rs 1000. ICRA Upgrades Long-term Rating to AAA.

The global investment bank sees this development as positive in terms of profitability as it could help lower cost of borrowing.

Can Fin Homes could also be used to target lower-yielding segments and accelerate loan growth. The valuation is attractive in the context of consistently high ROE generation of 19% over F2018-23.

CLSA on J Kumar Infra: Buy| Target Rs 720
CLSA maintained a buy rating on J Kumar Infra but raised the target price to Rs 720 from Rs 385 earlier.

The company is an inexpensive play on the high-growth urbanisation Capex with a foothold in metro rail.

2024 should begin well for this $455 million MCAP company and its $2 billion backlog. Building climate-resistant urban infrastructure, JKIL is well placed with a 2x top-line.

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