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Sun. Jul 14th, 2024

Hot Stocks: Expert opinions on Tata Steel, RR Kabel, RIL and Indigo

By Vaseline May30,2024

Citigroup on RR Cable: Buy | Target ₹2043

Citigroup recommends buying RR Kabel after its Q4 results, raising its target price from ₹1,728 to ₹2,043. The results were in line with expectations and the company is benefiting from strong industry demand. Citigroup forecasts revenue growth of 18-20% and EPS CAGR of 27% over FY24-26.

JPMorgan on RIL: Obesity | Target ₹3100

JPMorgan maintains an overweight rating on RIL, with a target price of ₹3,100. RIL’s New Energy Giga plants are expected to start operations in 2024. The company plans to use its high demand for hydrogen to develop electrolysis and solar energy capabilities, potentially reducing costs and making green energy solutions feasible. While New Energy’s EBITDA may be small initially, progress updates can add significant value to the stock.

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Axis Capital on Indigo: Buy | Target ₹4700

Axis Capital has upgraded Indigo to a buy from add, raising its target price from ₹4100 to ₹4700. This upgrade is due to reduced competition and stable jet fuel prices. Despite geopolitical challenges, fuel prices have remained manageable, and Indigo’s long-term plans show confidence in addressing supply issues.

Jefferies on Tata Steel: Buy | Target ₹200

Jefferies maintains a Buy rating on Tata Steel, with a target price of ₹ 200. Although Q4 numbers were weak, they exceeded expectations. Standalone EBITDA per tonne fell 12% quarter-on-quarter to around ₹15,000, due to lower average selling prices. However, losses in Europe decreased significantly, from $191 per tonne in the third quarter to $40 per tonne in the fourth quarter.

Resume

  • RR Cable: Buy, target ₹2043 (Citigroup)
  • RIL: Overweight, target ₹3100 (JPMorgan)
  • Indigo: Buy, target ₹4700 (Axis Capital)
  • Tata Steel: Buy, target ₹200 (Jefferies)

These insights come from top brokerage firms and sources like ETNow.

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