Amid market volatility and weak demand outlook, the stock has corrected quite significantly, thereby making valuations attractive and offering investors a great buying opportunity
Most global brokerage firms remained positive on Nestle India but some slashed their EPS estimates as well as target price to build in higher marketing spends in the fourth coming quarters.
Kotak advised adding HCL Technologies, L&T Infotech, Mindtree and Tech Mahindra which could return 8-12 percent
Most global brokerage firms, maintained their positive rating on Bharat Forge but revised their target downwards to build in marginal weakness seen in commercial vehicle sales in FY21.
Novelis' EBITDA stood at $322 million or Rs 2,300 crore, which is close to or higher than Hindalco's standalone (including Utkal Alumina) EBITDA of Rs 1,926 crore in Q3 FY19
They have retained buy calls on the stock, stating better fuel efficiency, passenger load factors and falling non-fuel cost.
Global brokerage firms have a target price in the range of Rs 535-560 on Sun Pharma which translates into an upside of 22-28 percent return in the next 12 months.
The company is trading at a FY20 Enterprise Value/EBITDA multiple of nearly 7 times and offers an attractive investment proposition from a medium to long term perspective.
The performance of the LPG, pipeline and renewable energy business remained largely muted.
The stock is currently trading at an elevated multiple of 54x FY20 estimated earnings compared to its own history and FMCG universe.
Jefferies maintained its buy rating on Eicher Motors and slashed its target price to Rs 23,100 from Rs 27,100 earlier. The global investment bank also slashed its revenue estimates over FY19-21 by 2-6 percent.