Hot Stock Picks: Analysts Share Views on BEL, HPCL, Colgate, ACC, and MCX

Here’s what top brokerage firms recommend for these stocks:

BEL (Bharat Electronics Limited)

• UBS Rating: Neutral
• Target Price: Rs 340
• Comments: UBS downgraded BEL to Neutral from Buy but raised the target price from Rs 333 to Rs 340. The firm believes the positive factors are already reflected in the stock price, limiting further gains. However, they remain cautiously optimistic about BEL’s earnings and order book growth, finding the management’s 15% growth guidance achievable.

HPCL (Hindustan Petroleum Corporation Limited)

• Jefferies Rating: Underperform
• Target Price: Rs 315
• Comments: Jefferies maintained an underperform rating but increased the target price from Rs 305 to Rs 315. Despite surpassing modest estimates in Q1, the outlook remains weak. Refining results were below expectations, and margins were stable, but marketing performance was better. HPCL’s profitability is sensitive to crude price changes and marketing fluctuations.

Colgate

• Jefferies Rating: Buy
• Target Price: Rs 3,570
• Comments: Jefferies kept a Buy rating and raised the target price from Rs 3,020 to Rs 3,570. Colgate showed strong revenue growth with high single-digit volume expansion in Q1, driven by increased rural activity and strong execution. Jefferies upgraded earnings estimates for the third consecutive quarter, praising the growth strategy despite high valuation.

ACC

• Nomura Rating: Reduce
• Target Price: Rs 2,200
• Comments: Nomura retained a Reduce rating with a target price of Rs 2,200. ACC’s Q1 results showed strong volume growth, slightly beating EBITDA expectations. Nomura expects high-volume growth due to a higher share of MSA volumes.

MCX (Multi Commodity Exchange of India)

• UBS Rating: Buy
• Target Price: Rs 5,000
• Comments: UBS maintained a Buy rating and increased the target price from Rs 4,300 to Rs 5,000. MCX showed strong performance in Q1 and Q2 with continued volume growth, though profitability was affected by one-offs. July 2024 saw a healthy increase in options ADV and a slight decline in futures.