Hot Stocks: Brokerage view on Allcargo Logistics, Dabur, RIL, Tech Mahindra and Titan Company

Jefferies on Allcargo Logistics: Buy| Target Rs 370
Jefferies maintained a buy rating for Allcargo Logistics with a target price of Rs 370. The brokerage firm slashed its target price to adjust for the demerger.

The demerged entities will be listed in July 2023 end. Allcargo is now a pure play on international trade and domestic logistics.

“Global container freight rates are still weak, and the impact is factored into international business. Express profitability turnaround is on the way. Allcargo is a good franchise available at 14.3x FY24E PE,” the brokerage said.

Morgan Stanley on Dabur India: Overweight| Target Rs 606
Morgan Stanley maintained an overweight rating on Dabur India with a target price of Rs 606.

There is improvement in demand trends, topline growth, and gross margins. Easing inflation is likely to expand margins after 1000 nine quarters decline. The management is optimistic about the outlook.

JPMorgan on RIL: Overweight| Target Rs 2960
JPMorgan maintained an overweight rating on Reliance Industries with a target price of Rs 2960. Strong O2C is likely to drive another strong quarter.The E&P segment is likely to further improve, providing earnings support to the overall energy business.

“RJio and Retail EBITDA are likely to see marginal growth sequentially in Q1. Steady earnings should help to close the underperformance gap,” it said.

Citi on Tech Mahindra: Sell| Target Rs 905
Citi maintained a sell rating on Tech Mahindra with a target price of Rs 905. The stock has surprised with a 17% up move from April lows despite a weak business outlook.

The reason behind the run-up was the announcement of a new CEO. Cheap valuations led to strong buying by DMF & insurance companies. But, the global investment bank continues to remain sellers in the stock.

Citi on Titan Company: Buy| Target Rs 3280
Citigroup maintained a buy rating on Titan Company with a target price of Rs 3280. The Q1 update indicates that the growth journey continues.

Jewellery grew 21% despite significant volatility in gold prices. The studded mix remained unchanged likely due to a higher share of gold/coins.

The company is positive on the near and long-term growth prospects on the back of company-specific initiatives and industry tailwinds.

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