Brokerage Calls: Time to sell Ashok Leyland; JustDial, Kotak, Union Bank top buys

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26 Aug, 2025 12:21

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We have collated a list of recommendations from different global brokerage firms for Tuesday, January 22.

Lupin: Underperform| Target: Rs 800

Credit Suisse maintained its underperform rating on Lupin with a target price of Rs 800. Levothyroxine is a key approval for the company as it accounts for 7-8 percent of FY21 earnings per share (EPS).

Credit Suisse expects the company to reach its peak sales of $30-35 million in FY21 in Levothyroxine and along with that expect two more generic approvals in FY20.

Just Dial: Buy| Target: Rs 765

Nomura marinated its buy rating on JustDial post Q3 results with a target price of Rs 765. The global investment bank is of the view that the company is most cost-effective SME advertising platform.

While competition remains high, Nomura sees wide scope for expanding in tier 2/3 cities, it said in a note.

Kotak Mahindra Bank: Buy| Target: Rs 1500

CLSA maintained its buy rating on Kotak Mahindra Bank post Q3 results with a target price of Rs 1500. The global investment bank sees 21 percent CAGR in the standalone earnings.

A key positive was the 23 percent growth in the net interest income (NII) led by a 23 percent rise in loans. Going forward, better growth and return on equity (ROE) improvement are key variables in sustaining premium valuation, the note added.

Ashok Leyland: Sell| Target: Rs 75

CLSA maintained its sell rating on Ashok Leyland and slashed its target price to Rs 75 from Rs 85 earlier. The global investment bank sees a high likelihood of a downturn after 4 years of up-cycle for truck market. It expects competition to intensify in a downturn. The FY20-21 EPS estimates are 14-22 percent below the street.

Union Bank of India: Buy| Target: Rs 105

CLSA maintained its buy call on Union Bank of India with a 12-month target price of Rs 105.

The asset quality remains to be weak and it looks like earnings are likely to normalise from FY20 onwards. The global investment bank is disappointed by the higher level of slippage, at 3.8% of the past year’s loans.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.