Hot Stocks: Brokerage view on IndusInd Bank, Titagarh Wagon, Polycab and ICICI Lombard

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

Goldman Sachs on IndusInd Bank: Buy| Target Rs 1681

Goldman Sachs maintained a buy rating on IndusInd Bank with a target price of Rs 1,681. The Q1 numbers were in-line with estimates. It is a strong play on commercial retail uptick growth.

The global investment bank remains constructive on IndusInd Bank. It sees it delivering core PPOP growth of 21% CAGR over FY23-26.

HSBC on Titagarh Wagons: Initiate Buy| Target Rs 730
HSBC initiated coverage on Titagarh Wagons with a buy rating and a target price of Rs 730. India’s plan to put more freight on its rails provides a compelling opportunity for Titagarh.

Order prospects from the metro segment are also bright given the large pipeline of metros under construction.

For more than half of the under-construction metro projects, rolling stock orders are yet to be awarded.The global investment bank expects Titagarh to deliver a revenue CAGR of nearly 30% in 30% in FY23-26.

It expects the EPS to more than double over the next three years with a high-teens ROE of 18%. Even after the recent rally, HSBC believes that the current 26x FY25 valuation underappreciates the solid growth outlook.

Jefferies on Polycab India: Buy| Target Rs 4835
Jefferies maintained a buy rating on Polycab India with a target price of Rs 4835. Consistent and strong execution is driven by better volumes and margins in Cables & Wires.

The global investment bank views Polycab as a strong play on Indian capex and housing. It also raised FY24-26e EPS by 6-7%.

CLSA on ICICI Lombard: Buy| Target Rs 1550

CLSA maintained a buy rating on ICICI Lombard with a target price of Rs 1550. The company delivers higher than industry growth and a healthy combined ratio improvement.

Commission and other expenses switch places and expense ratio within range.

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