Hot Stocks: Brokerage Views on HUL, Zensar Tech, Kajaria Ceramics, Torrent Pharma, ICICI Pru, and Bajaj Finance

Here’s a summary of the latest recommendations from top brokerage firms on some hot stocks:

HUL (Hindustan Unilever Ltd): Hold | Target Price: Rs 2,979

• Brokerage: Investec
• Rating: Hold
• Target Price: Raised from Rs 2,439 to Rs 2,979
• Reason: HUL’s Q1 performance was slightly better than expected across all areas. Although impacted by personal care and food segments, premium categories are expected to see growth.

Zensar Tech: Buy | Target Price: Rs 885

• Brokerage: Investec
• Rating: Buy
• Target Price: Increased from Rs 710 to Rs 885
• Reason: Zensar Tech has strong growth potential and is expected to secure large deals. A few big deals could significantly boost its growth trajectory, although EBITDA was affected by one-time costs.

Kajaria Ceramics: Buy | Target Price: Rs 1,590

• Brokerage: Jefferies
• Rating: Buy
• Target Price: Raised from Rs 1,500 to Rs 1,590
• Reason: Kajaria Ceramics’ revenue met expectations with slightly better margins. Jefferies expects a volume growth of 11-12% from FY24 to FY27, despite some short-term challenges.

ICICI Prudential: Neutral | Target Price: Rs 580

• Brokerage: Macquarie
• Rating: Neutral
• Target Price: Rs 580
• Reason: ICICI Prudential showed good growth in annual premium equivalent (APE), but weak growth in value of new business (VNB). Strong APE growth and performance in all channels were positives, but weak protection growth and margin issues were concerns.

Torrent Pharma: Buy | Target Price: Rs 3,540

• Brokerage: Jefferies
• Rating: Buy
• Target Price: Increased from Rs 3,070 to Rs 3,540
• Reason: Despite some one-off impacts on revenue and expenses, Torrent Pharma showed strong performance. Jefferies expects the company to continue performing well, with international growth picking up in the coming quarters.

Bajaj Finance: Market-Perform | Target Price: Rs 6,800

• Brokerage: Bernstein
• Rating: Market-Perform
• Target Price: Rs 6,800
• Reason: Bajaj Finance saw a significant increase in credit costs, painting a challenging picture. A rise in non-interest income was a positive, but return on assets (RoA) and return on equity (RoE) are under pressure.

These insights are based on reports from ETNow and other sources.