Wed Nov 20 05:54:38 UTC 2024: ## Brokerage Firms Issue Mixed Signals on Several Indian Stocks

**Mumbai, India** – Several brokerage firms have issued revised recommendations on various Indian stocks following the release of Q2 (September quarter) earnings. The assessments reveal a mixed outlook on the market.

**Hero MotoCorp:** Jefferies has maintained a “buy” rating for Hero MotoCorp but lowered its target price to ₹5,500 per share, citing record EBITDA per vehicle and anticipating strong two-wheeler growth over the next three years. Nomura also recommends a “buy,” with a target price of ₹5,805.

**Bhart Forge:** Jefferies issued an “underperform” rating with a ₹1,100 target price, citing Q2 EBITDA falling 12% short of expectations. Nomura, however, holds a “neutral” rating with the same ₹1,100 target price.

**Muthoot Finance:** Morgan Stanley upgraded Muthoot Finance to an “equal-weight” rating, setting a target price of ₹1,600. However, the brokerage acknowledged high gold prices and rising asset quality as key challenges.

**Other Stocks:** Other companies on brokerage radars include Hindustan Aeronautics (HAL), receiving an “outperform” rating from CLSA with a ₹4,731 target price (driven by positive signals from a GE engine deal); and Mamaearth, receiving a “buy” recommendation from Jefferies, albeit with a lowered target price of ₹425 per share due to disappointing Q2 inventory and losses.

**Disclaimer:** These recommendations are based on brokerage house analysis. Consult a certified investment advisor before making any investment decisions. News18 is not responsible for any profits or losses incurred.

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