Hot Stocks: Brokerage view on RIL, Titan Company, United Spirits, ICICI Prudential and Delhivery

Brokerage firm Morgan Stanley downgraded Titan Company to equal-weight, while Macquarie maintained an underperform rating on United Spirits. Further, Jefferies retained its buy rating on ICICI Prudential Life and Emkay initiated a buy rating on Delhivery.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Motilal Oswal on RIL: Buy | Target Rs 2,825
Motilal Oswal maintained a buy rating on Reliance Industries with a target price of Rs 2 825. The NCLT has approved the demerger of Jio Financial Services (JFS).

The record date is 20th Jul’23, and the listing is expected to happen within the next 2-3 months. The effective date of the scheme is 1st Jul’23.

Morgan Stanley on Titan Company: Equal-Weight | Target Rs 3,207
Morgan Stanley downgraded Titan Company to Equal Weight with a target price of Rs 3207. The outperformance is likely to see a temporary pause.

High gold prices are likely to impact discretionary consumption. The business growth momentum is likely to slow down a bit in the next couple of quarters.

The global investment bank continues to view Titan as an attractive business longer term. It sees a more balanced risk-to-reward ratio at current levels.

Jefferies on ICICI Prudential Life: Buy | Target Rs 700
Jefferies maintained a buy rating on ICICI Prudential with a target price of Rs 700. June 2023 premium growth at 12% is the highest in the last 13 months. A pick-up in growth should help valuations to re-rate.

Emkay on Delhivery: Buy | Target Rs 465
Emkay initiated a buy rating on Delhivery with a target price of Rs 465. India's e-commerce shipments market should at least double by FY26.

The global investment bank expects a revenue CAGR of 24% over FY23-26, to reach 7.8% adj. EBITDA margin, and see PAT LUD turnaround in FY26.

Delhivery's cost of transportation in the B2C Express segment is ~20% cheaper than the competition.

Provides an infallible opportunity to ride the long-term structural growth story in India's logistics space.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)