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Top stock picks today: Brokerage recommendations on Bajaj Auto, Equitas Small Finance and more

09 Jul , 2021   By : Kanchan Joshi


Top stock picks today: Brokerage recommendations on Bajaj Auto, Equitas Small Finance and more

Indian benchmark equities closed lower on Thursday with the Sensex closing at 52,568.9, down 485.82 points, or 0.92%, while the Nifty 50 was at 15,727.90, down 151.75 points or 0.96%. For Friday, SGX Nifty indicates a volatile start to the Indian markets.


Brokerage recommendations:


Equitas Small Finance Bank: ICICI Securities in a note on Thursday said that the small finance bank reached inflection point in FY21 in building a sustainable business and, hereon, profitability is likely to improve consistently, driven by operating leverage and lower credit cost than the FY21 level.


The brokerage has a ‘Buy’ rating on the stock with target price of Rs92 apiece.


Bajaj Auto: Motilal Oswal Financial Services in a note on 7 July said that while FY21 has been a challenging year for the domestic two-wheeler industry due to covid-19 outbreak, Bajaj Auto sailed on the back of a good recovery in the domestic market and faster recovery in the export market.


Motilal has a ‘Buy’ stance on the stock with target price of Rs4,111 per share.


Indian Hotels: Edelweiss Securities in a recent note said, ‘’we build in revenues of R340 crore for the company from new initiatives by FY25 with an incremental contribution of 60%. We also marginally reduce our cost of debt based on the funding profile of IHCL.’’


The brokerage has a ‘Hold’ recommendation on the stock with target price of Rs148.


Craftsman Automation: In a note on Thursday, brokerage firm Anand Rathi said Craftsman Automation’s Ebitda margin will expand to 29% by FY23. Also, earnings growth will be more than Ebitda growth due to subdued capex, reduced debt and the company moving to the lower tax regime in FY23.


It has a ‘Buy’ rating on the stock with target price of Rs2,655.


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