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Friday's top brokerage calls: Zomato, HUL, Muthoot Finance and more

Friday's top brokerage calls: Zomato, HUL, Muthoot Finance and more

Friday's top brokerage calls: Zomato, HUL, Muthoot Finance and more
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By CNBCTV18.com Oct 1, 2021 8:45:44 AM IST (Published)

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SUMMARY

Macquarie says domestic gas price hike is largely on expected lines. It likes GAIL India and is tactically positive on Oil and Natural Gas Corporation. CLSA has initiated coverage on two high-profitability and low-risk businesses - Manappuram Finance and Muthoot Finance. Here are the top brokerage calls for today:

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Macquarie on Zomato | The brokerage expects the food delivery company to quadruple its revenue in the under-penetrated online food delivery space. Online food delivery business is set to deliver a compounded annual growth of 40 percent over FY21-26, Macquarie said.

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Macquarie on gas price revision | The 62 percent hike in domestic natural gas price was largely along expected lines, Macquarie said. The most impacted is Gujarat Gas followed by Indraprastha Gas and Mahanagar Gas, the brokerage added. Macquarie fundamentally likes GAIL India and is tactically positive on Oil and Natural Gas Corporation.

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CLSA on Hindustan Unilever | HUL remains the brokerage's preferred pick in the consumer sector. CLSA noted that the margin pressure faced by the fast-moving consumer goods company is easing progressively and the strategy is gradually shifting to profitable growth from volume growth.

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CLSA on gold financing | The brokerage has initiated coverage on two high-profitability and low-risk businesses. CLSA has assigned a 'buy' rating to Muthoot Finance at a target price of Rs 1,900 and to Manappuram Finance with a target price of Rs 240. Return on assets and equities of these companies is historically better than banks and other non-banking finance companies, CLSA said.

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Nomura on gas price hike | The development is negative for users like GAIL India but positive for upstream companies like Oil and Natural Gas Corporation and Oil India, Nomura said. City gas distribution players are likely to pass on the gas price hike to consumers, the brokerage added.

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