Hot Stocks: Brokerage view on Indigo, ACC, Ambuja Cements, Cyient and Ramkrishna Forging

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

Credit Suisse on Indigo: Outperform | Target Rs 2450
Credit Suisse maintained an outperform rating on InterGlobe Aviation with a target of Rs 2450. “GoFirst filing for bankruptcy can benefit Indigo in many ways,” the brokerage said.

“Reviving the airline post-bankruptcy process is difficult based on Jet experience. Current incumbents are unlikely to participate in the bankruptcy process,” it added.

JPMorgan on ACC and Ambuja Cement: Neutral
JPMorgan maintained a neutral rating on ACC and slashed its target price to Rs 1765 from Rs 2175 earlier.

JPMorgan maintained a neutral rating on Ambuja Cements and slashed its target price to Rs 385 from Rs 405 earlier.“Weaker pricing and loss of volume impacted Q4,” it said. The global investment bank sees large capacity addition guidance as a positive indicator.

Emkay on Ramkrishna Forging: Buy | Target Rs 390
Emkay maintained a buy recommendation with a target price of Rs 390. Ramkrishna Forgings (RMKF), India’s second-largest manufacturer and exporter of forging components, has undertaken several initiatives to structurally boost its growth prospects beyond being a proxy play on the domestic MHCV space, apart from future-proofing itself in the EV-shift, with high focus on balance sheet (BS) deleveraging.

The brokerage firm expects a robust 27% earnings CAGR with a balance sheet deleveraging. “We expect RMKF to deliver revenue/EBITDA CAGR of 14%/15% over FY23-25E to Rs39bn/Rs8.9bn,” added the report.

Cyient: Accumulate| Target Rs 1360
Cyient maintained an accumulate rating on Cyient with a target price of Rs 1360. Cyient , formerly known as Infotech Enterprises, is one of the leading players in the IT-enabled services space, providing services to the Engineering Research and Development segment.

Given the concern over global uncertainties and fear of recession, we downgrade our rating to “accumulate” with a target price of Rs. 1,360 based on 18x FY25E EPS.

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