Hot Stocks: Brokerage view on ONGC, Oil India, Delhivery, Indigo, and Prestige Estate

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

Morgan Stanley on Energy stocks: ONGC, Oil India
Morgan Stanley remained positive on Energy stocks and top picks include ONGC with a target price of 199, and Oil India with a target of Rs 323.
Maintain non-consensus Overweight on Indian energy producers. The global investment bank has become more bullish as the management raised production when global peers are seeing declines.

Government policy support is underappreciated, said the note. The capital return story is highly attractive.

Macquarie on Delhivery: Outperform| Target Rs 440

Macquarie maintained an outperform rating on Delhivery with a target of Rs 440. The global investment bank estimates Delhivery’s share price is now pricing in a 16% 10-year revenue CAGR.

Bull case DCF fair value is Rs 440- 730 based on a decadal revenue CAGR of 18-23%. Social-commerce platform Meesho accounts for around 20-25% of Delhivery’s overall volumes, said the note.

Axis Securities on Indigo: Upgrade to buy| Target Rs 2316
Axis Securities upgraded InterGlobe Aviation to buy with a target of Rs 2316. IndiGo share price has corrected by about 12% post Q3FY23.

The stock price correction now implies a 25% upside to the target price. Fall in Singapore jet spread from $40.1/bbl on 24 Jan 2023.

The management expects decent Q4FY23 driven by encouraging booking levels. Singapore jet crack spread corrects further (a positive for ATF prices).

Jefferies on Prestige Estate: Buy| Target Rs 550
Jefferies maintained a buy rating on Prestige Estate with a target price of Rs 550. The management aims to double overall residential sales by FY26.

Multiply the lease income by 7x in the next 5 years. Latter will entail $2 billion in capex and debt could treble in the interim. Success in the unfolding cycle could deliver strong returns, said the note.

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