Hot Stocks: Brokerages view on Titan, Nykaa and 2 other stocks

A host of important triggers are likely to have an impact on Titan Company, FSN E-Commerce Ventures, Dabur India and Gravita India.

After Q2 updates, Morgan Stanley took an Equal Weight stance on Titan while Nomura maintained a neutral view on the Lifestyle-focused consumer technologies platforms FSN which operates Nykaa. Macquarie has a 'Neutral' stance on Dabur while Antique initiates a buy on Gravita.

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


Macquarie on Dabur: Neutral | Target: Rs 590
Macquarie has a 'Neutral' stance on Dabur for a price target of Rs 590. It said that the quarterly updates for September quarter are broadly in-line. Slight implied miss on volume growth based on pre-2Q update was offset by implied flattish operating margin, it said.The year-on-year decline in food segment sales in 2Q driven by one-off factors.

Morgan Stanley on Titan: Equal Weight | Target: Rs 3,190
Morgan Stanley maintains an equal-weight stance on Titan with a target price of Rs 3,190 following its July-September quarter updates.

It said that Q2 was "undoubtedly" a strong quarter for the Tata Group company with trends surprising positively in terms of delivering 20% YoY growth.

Growth was seen despite the narrative of general sluggishness in discretionary demand and the impact of the extended of inauspicious period. Four-year CAGR for the jewellery segment stood at 25%, significantly higher versus historical trends.

Nomura on Nykaa: Neutral | Target: Rs 163
Nomura has maintained a 'Neutral' stance on FSN E-Commerce Ventures, the company which operates fashion and lifestyle brand Nykaa.

The brokerage noted that the Q2 updates on the BPC segment was on track with rebound in the fashion segment.

H1 performance sets up well for H2 which is seasonally stronger, the brokerage said, adding that it expects consolidated revenue growth of 23% YoY and EBITDA margin at 5.8%.

Antique on Gravita India: Buy | Target: Rs 1,250
Domestic brokerage Antique has initiated a buy on Gravita India for a price target of Rs 1,250. It sees market share improving to 16%-18% driven by regulatory tailwinds.

Aggressive capex plans to drive 31% volume CAGR over FY23-26E, Antique said, adding that the margin stability has been achieved by the company through commodity hedging. The brokerage said that it expects the company to deliver revenue/ EBITDA/ PAT CAGR of 24% / 28% / 24% over FY23-26.

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