Hot Stocks: Hot Stocks: Global brokerages on JSW Steel, RIL, Bandhan Bank, SBI Life, HDFC Life post Q3 results

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Global brokerage firm Citigroup downgraded , JPMorgan maintained its overweight stance on , CLSA has a buy rating on and on post Q3 results. Goldman Sachs retained its buy stance on post-December quarter results.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Citigroup on JSW Steel: Sell | Target Rs 675
Citigroup downgraded JSW Steel to a sell rating from neutral post December quarter results with a target price of Rs 675.

JSW Steel reported 89% fall in net profit at Rs 490 crore for the three months ended December 2022. The company had posted a profit of Rs 4,357 crore in the last year period.

The global investment bank said that the stock could underperform through China reopen trade.

JPMorgan on RIL: Overweight | Target Rs 3015

JPMorgan maintained an overweight rating on RIL post December quarter results with a target price of Rs 3015.

“EBITDA, PAT beat was driven by a sharp QoQ O2C jump. Energy to remain key earnings driver in CY23,” said the note. (RIL) reported a 13% drop in consolidated profit for the quarter ended December 2022 on the back of weak oil-to-chemicals performance, which was partly offset by growth in the consumer businesses.

CLSA on Bandhan Bank: Buy| Target Rs 320

CLSA maintained its buy rating on Bandhan Bank post Q3 results with a target price of Rs 320. MFI stress is coming down on expected lines.

“We expect ROE of 19%-20% in-spite of a changing business mix Un-provided stress low now,” said the note.

The global investment bank expects normalised provisioning now NIMs down, but at the bottom; we expect a sharp pick-up. Loans down due to write-offs.

CLSA on SBI Life: Buy| Target Rs 1700

CLSA maintained its buy rating on SBI Life with a target price of Rs 1700.

“The company recorded a higher share of ULIPs in the first 9M23 while margins moderated optically,” said CLSA. The global investment bank increased VNB estimates by 3%-3.5%. Lift premium and value of new business assumptions.

Goldman Sachs on HDFC Life: Buy| Target Rs 700

Goldman Sachs maintained its buy rating on HDFC Life post Q3 results with a target price of Rs 700.

“Non-linked products continue to drive growth,” it said.

The global investment bank raised our FY23E-FY25 VNB estimates by up to 4%. Margins on track for margin neutrality in FY23, said the note.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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