JSW Steel, Kotak Mahindra & more: Top stocks to buy today — Check list
Morgan Stanley has an overweight rating on JSW Steel with the target price at Rs 1,300. Analysts said that along with JFE's technological expertise, JSW is looking to leverage its project execution capabilities to participate in multi-decade growth opportunities. Under a new pact between JFE and JSW, JFE will invest about Rs 15,800 crore in two tranches for a 50% stake in a new entity BPSL), implying Rs 31,500 crore equity value for the new entity. JSW Steel will receive Rs 24,500 crore in cash for slump sale of its stake. JSW will also get Rs 7,900 crore through equity dilution on back of a share swap agreement with the promoter company that owns 17% of BPSL.
HSBC has initiated its coverage of Tata Consumer Products with the target price at Rs 1,340. Analysts believe that the Tata Group’s flagship food & beverages company has a scope to expand and deepen distribution to drive growth. They forecast a 26% FY25-FY28 compounded annual growth rate (CAGR) for its growth portfolio, contributing 37% of the India revenue in FY28, from 28% in FY25. Analysts assigned premium 55x price-to-earnings multiple as they believe aggressive acquisitions and distribution will pay off.
Motilal Oswal Securities has a buy on Aurobindo Pharma with the target price at Rs 1,430. Analysts said that the company’s broad-based growth momentum is building up. The company’s domestic Pen-G/6-APA manufacturing is positioned for healthy upside. Also, biosimilars, biologics CMO, and EU expansion drive diversification beyond legacy.
CLSA has a hold on Kotak Mahindra Bank with the target price at Rs 2,350. Analysts raised the possibility of Kotak Bank buying IDBI Bank which the govt had said will divest. They feel such a deal would be earnings per share (EPS) accretive for the private sector lender, but may or may not address the excess capital issue and could possibly raise some HR issues. Analysts said IDBI Bank has a clean balance sheet, and a good deposit franchise. The value accretion for Kotak Bank would depend on how the purchase would be funded.
Jefferies has an underperform rating on Dr Reddy’s Labs with the target price at Rs 1,130. Analysts met some top officials of the company. They said that the company remains confident of first wave launches in Canada, India and other emerging markets including in Brazil. The US FDA filing for biosimilar Abatacept, Dr Reddy's biggest asset, is on track this month with approval expected in 12-months. Its M&A strategy would focus on brands, not full companies.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
HSBC has initiated its coverage of Tata Consumer Products with the target price at Rs 1,340. Analysts believe that the Tata Group’s flagship food & beverages company has a scope to expand and deepen distribution to drive growth. They forecast a 26% FY25-FY28 compounded annual growth rate (CAGR) for its growth portfolio, contributing 37% of the India revenue in FY28, from 28% in FY25. Analysts assigned premium 55x price-to-earnings multiple as they believe aggressive acquisitions and distribution will pay off.
Motilal Oswal Securities has a buy on Aurobindo Pharma with the target price at Rs 1,430. Analysts said that the company’s broad-based growth momentum is building up. The company’s domestic Pen-G/6-APA manufacturing is positioned for healthy upside. Also, biosimilars, biologics CMO, and EU expansion drive diversification beyond legacy.
CLSA has a hold on Kotak Mahindra Bank with the target price at Rs 2,350. Analysts raised the possibility of Kotak Bank buying IDBI Bank which the govt had said will divest. They feel such a deal would be earnings per share (EPS) accretive for the private sector lender, but may or may not address the excess capital issue and could possibly raise some HR issues. Analysts said IDBI Bank has a clean balance sheet, and a good deposit franchise. The value accretion for Kotak Bank would depend on how the purchase would be funded.
Jefferies has an underperform rating on Dr Reddy’s Labs with the target price at Rs 1,130. Analysts met some top officials of the company. They said that the company remains confident of first wave launches in Canada, India and other emerging markets including in Brazil. The US FDA filing for biosimilar Abatacept, Dr Reddy's biggest asset, is on track this month with approval expected in 12-months. Its M&A strategy would focus on brands, not full companies.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
Next Story