Should you buy, sell or hold IndusInd, ITC, Titan, Sun Pharma today? What brokerages say

Brokerage radar, IndusInd Bank, ITC, Sun Pharma, Nykaa, Titan - Image Source: PTI

Brokerages are upbeat on IndusInd Bank, a day after the private lender reported a robust set of earnings for the October-December period. Macquarie is bullish on Sun Pharma mainly on the drug maker's rising market share of dry eye disease treatment CEQUA. Nykaa shares edged higher on Thursday after a chain of record lows, after said Citi maintained a 'buy' on the cosmetics-to-fashion retailer.

Here are some key stocks under the brokerages' radar today:

IndusInd Bank

CLSA, JP Morgan, Jefferies, Citi, Morgan Stanley, and HSBC have positive views on the stock. Most of these brokerages find IndusInd Bank earnings in line with estimates in terms of core pre-provision operating profit (PPoP) and net profit.

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The extension of the bank’s CEO is a key near-term monitorable that will aid a re-rating, according to CLSA and Jefferies.

Brokerages	Rating	Price Target
Morgan Stanley	Overweight	INR 1525
Credit Suisse	Outperform	INR 1430
Jefferies	Buy	INR 1600
CITI	Buy	INR 1430
CLSA	Buy	INR 1500
JP Morgan	Overweight	INR 1400
Macquarie	Outperform	INR 1400
HSBC	Buy	INR 1610

Titan

UBS downgraded Tata Group company Titan to neutral and reduced its target price for the stock to Rs 2,600 apiece, from XX. According to the brokerage, the stock is already trading at a valuation of 56 times the company's estimated earnings for the year ending March 2024.

UBS doesn't see any further upside in the stock, though it expects growth in the company's jewellery segment to remain strong in the long term.

Sun Pharma

Macquarie maintained an 'outperform' rating on Sun Pharma with a target price of Rs 1,275 per share. The brokerage said its market share in CEQUA continues to inch up in the dry eye market.

ITC

Morgan Stanley maintained an Overweight stance on ITC with a target price of Rs 374 per share the day after the cigarette-to-hotel conglomerate announced to acquire a controlling stake in Sproutlife Foods Pvt Ltd (SFPL), which owns the Direct-to-Consumer (D2C) brand Yoga Bar.

Nykaa

Citi is bullish on Nykaa with a target price of Rs 276 apiece. As of Wednesday, the counter has lost around 18 per cent of its value in five back-to-back trading sessions.

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