Here’s how brokerages rate specific stocks
Axis Cap on PFC:
Maintains BUY call, target at Rs 95/share.
Co still has a sizeable stressed private sector loan book.
Early resolution of stressed cases could have an upside risk to estimates.
Did not factor in additional provision that may be written back in next few quarters.
Morgan Stanely On Reliance Industries:
Reliance Jio has reintroduced its ‘Phonepe cashback’ offer.
Jio and Airtel taking caliberated yet aggressive approach for subscriber acquisition.
Believe Jio's priority is to continue gaining subscribers.
Citi on HDFC Life:
Vibha Padalkar’s elevation as MD and CEO should ensure a smooth transition.
Maintains SELL rating, target at Rs 380/share.
Stock valuations expensive at current levels.
Citi on Cements:
Average cement realisations should be flattish to higher QoQ,
Would BUY into the weakness of cement stocks.
Expect prices to rise over the medium term as m&a activity slows.
UltraTech and Ambuja are our top picks and have a catalyst watch on ACC.
Target for ACC at Rs 2,000/share, Ambuja at Rs 295/share.
Target for UltraTech at Rs 5,000/share, Shree Cements at Rs 19,750/share.
Target for Dalmia Bharat at Rs 3,175/share.
Jefferies on Pharma stocks:
India focus has increased with US challenges.
Sustaining scale is important in India.
Expect large players to gain though growth will be low-double digit.
R&D and in-licensing will gain prominence; see consolidation increasing.
Natco, Lupin better placed; Cipla and Dr Reddy’s need to increase focus.
Remain cautious on large cap given premium valuations.