FII Brokerages recommend seven stocks to buy now

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Srilata Rao
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FII Brokerages recommend seven stocks to buy now

Post by Srilata Rao » Fri Nov 10, 2017 11:45 pm

These are the seven top stocks to buy now. Global brokerage firms have either recommended a buy or initated their coverage with ‘Buy’ on select stocks according to report in ET.

Amara Raja Batteries

Nomura, the Japanese brokerage firm, recommended ‘Buy’ of Amara Raja Batteries with a target price of Rs 1,000. The brokerage firm said, “Q2FY18 results were above estimates with revenue growth across all segments other than telecom. We expect healthy revenue growth to continue.”

SBI Life Insurance

Citi has initiated coverage on SBI Life Insurance with a target price of Rs 800. The scrip was at Rs 675 on Friday. Citi believes franchise strengths to drive robust growth and SBI Life looks well positioned to capitalise on increasing share of financial savings in India.

Britannia

Bank of America Merrill Lynch (BofAML) had also initiated coverage of the FMCG major Britannia with ‘Buy’ rating and set a target price of Rs 5,500. BofAML expects healthy upward trend in EBITDA to sustain and also expects volume, revenue and EPS to grow at a CAGR of 10 per cent, 15 per cent and 18 per cent over FY17-20. “Higher profitability and market share gains to support premium valuations. EBITDA witnessed 32% CAGR from FY13-17; For next 10 years expect EBITDA CAGR of 15 per cent,” BofAML said.

HPCL

Citi recommended ‘Buy’ on the oil marketing company with a target price of Rs 564. Q2 results remained below expectations on poor refining and core marketing performance. “Weak marketing performance partly attributable to GST. We remain fundamentally positive on OMCs and prefer them over upstream,” Citi said. Deutsche Bank also has ‘Buy’ on HPCL with a target price of Rs 525.

Tata Motors

Credit Suisse maintained ‘Outperform’ on the auto major with a target price of Rs 560. BofAML raised target price of Tata Motors to Rs 535 from Rs 525 earlier. The global financial services firm expects faster India turnaround as cost saving measures kick-in. It also raised India EBITDA estimates by 44 per cent, 32 per cent for FY18 and FY19, respectively.

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