Hot Stocks: Top Brokerage Picks for RIL, M&M, ICICI Bank, Ambuja Cements, and IndiGo

Major brokerage firms have shared their views on several key stocks. Here’s a simplified summary of their recommendations:

1. Reliance (RIL)

• Brokerage: Jefferies
• Recommendation: Buy
• Target Price: ₹3,580
• Details: Jefferies believes Reliance’s Jio could list publicly in 2025, possibly at a $112 billion valuation, providing a 7-15% upside to RIL.

2. Mahindra & Mahindra (M&M)

• Brokerage: Investec
• Recommendation: Buy
• Target Price: ₹3,100
• Details: M&M’s strategic pricing changes and upcoming product refreshes are expected to boost demand, especially for the XUV700.

3. ICICI Bank

• Brokerage: Axis Capital
• Recommendation: Add (downgraded from Buy)
• Target Price: ₹1,370
• Details: Despite healthy loan growth, ICICI Bank’s lower net interest margin (NIM) limits its upside potential.

4. Ambuja Cements

• Brokerage: Nomura
• Recommendation: Buy (double upgrade from Reduce)
• Target Price: ₹780
• Details: Ambuja Cements is expected to see above-industry volume growth and potential cost savings from lower heat consumption and higher green power use.

5. IndiGo

• Brokerage: Morgan Stanley
• Recommendation: Overweight
• Target Price: ₹5,142
• Details: IndiGo is likely to benefit from new airports and a more consolidated airline industry, though inflation may slightly impact EBITDA in the short term.

Additional Recommendation for M&M

• Brokerage: Morgan Stanley
• Recommendation: Overweight
• Target Price: ₹3,049
• Details: M&M is expected to continue strong performance with upcoming product launches and increased tractor volumes, despite potential risks from EV slowdown and hybrid duty cuts.

These simplified insights from top brokerage firms provide a clearer view of their stock recommendations and the expected performance of these companies.