Stocks woke up to a sunny morning on Friday, mirroring positive global cues, amid softer oil prices and a rising rupee.
The 50-share Nifty was up 63 points, or 0.59 per cent, at 10,680 at around 9.55 am while the 30-scrip Sensex rallied 247 points, or 0.70 per cent, to 35,507.
Take a look at five stocks as recommended by global brokerages such as CLSA, Deutsche Bank, Morgan Stanley, among others.
Lemon Tree Hotels
CLSA retained ‘Buy’ rating on Lemon Tree with a target price of Rs 87 (Rs 90 earlier). It believes that premium valuations are justified, given the company’s high growth plans, opportune capital allocation and shift to an asset-light model.
Eicher Motors NSE 2.05 %
Deutsche Bank has ‘Buy’ call on Eicher Motors with a target price of Rs 28,000. “Royal Enfield expands addressable market even as Jawa enters,” the global financial services firm said. It sees FY18-21E EPS CAGR Of 17 per cent for Eicher Motors. Deutsche Bank also believes that the company may sell 8.7 lakh units of Royal Enfield in FY19.
IPCA Laboratories
Morgan Stanley is ‘Overweight' on IPCA Labs with a target price of Rs 853. “IPCA stabilised its base business after disruption due to FDA issues. Now, it appears poised for mid-teens sales growth and steady operating profit margin expansion driven by operating leverage,” Morgan Stanley said.
Glenmark Pharma
Nomura retained ‘Buy’ on Glenmark Pharma with a target price of Rs 825. “September quarter was a steady quarter, with some pick-up in US sales. We expect strong second half, driven by higher seasonal sales in emerging markets, pick-up in API sales and increased contribution from new launches in the US,” Nomura said.
Coal IndiaNSE 0.74 %
CLSA maintains ‘Buy’ on Coal India with a target price of Rs 360. “Q2 EBITDA ahead of estimates led by better-than-expected realisations. We continue to like the stock, given decent earnings growth outlook and attractive valuation,” CLSA said.
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