Should you buy, sell or hold Titan Co, Tata Chemicals, ABB India, Petronet LNG and other shares?

Which stocks to buy, hold or sell today? As Dalal Street enters the May 4 session, here's a look at what brokerages make of some of the key stocks trending today. Stocks such as Titan Co, Cholamandalam Investment, Tata Chemicals, ABB India, Petronet LNG others shares are on their radar today.

Brokerages views - May 4, 2023. Representative image. Source: Unsplash

Which stocks to buy, hold or sell today? As Dalal Street enters the May 4 session, here's a look at what brokerages make of key stocks in focus. Stocks such as Titan Co, Cholamandalam Investment, Tata Chemicals, ABB India, Petronet LNG, and others are on their radar today.

Check out the full list of what brokerages recommend, including Titan Co, Cholamandalam Investment, Tata Chemicals, ABB India, Petronet LNG, and other stocks:

Brokerage view - Titan

TRENDING NOW

CLSA on Titan (CMP: 2654)

Maintain Buy, Target raised to Rs 3,210 from Rs 3,150
Comprehensive growth across segments; outlook optimistic
Jewellery growth remains strong despite a soft March
Strong show in other businesses which are scaling-up rapidly

JP Morgan on Titan

Maintain Overweight, Target: Rs 3,000
Good Q4; Demand & margin narrative better than feared
Jewellery: Comfort on demand and margin outlook
Watches & Wearables. Q4 revenue +41% y/y (analog +32%, wearables +170%)
Eyewear Revenue +23

Morgan Stanley on Titan

Maintain Overweight, Target 3003
4Q is broadly in line with estimates.
Management is pleased with 4Q performance & optimistic about future growth as mature & emerging businesses continue to grow well
Citi on Titan (CMP: Rs 2,654)
Maintain Buy, Target raised to Rs 3,280 from Rs 3,130

Jefferies on Titan

Maintain Hold, Target Rs 2,550
Macquarie on Titan (CMP: Rs 2,654)
Maintain Outperform, Target Rs 3,200
Sounded +ve on 1Q growth given a recovery in late Apr from gold price increase-linked softening in Mar & more wedding dates in May/Jun
4Q jewellery performance raises confidence on FY24E assumptions, but weak watch/eyewear margin drives 2% EPS cut

Goldman Sachs On Titan

Maintain Buy, Target 3175
Strong jewellery performance, watch & eyewear margins weak
Management reiterates a medium-term growth trajectory of 20%
Franchisee margin change targeted at improving mix
Int. biz response encouraging, to scale up rapidly in FY24

Chola- brokerage view

CLSA on Cholamandalam Investment and Finance Co (CMP: Rs 887)

Maintain Buy, Target raised to Rs 1,070 from Rs 875
Strong performance on all fronts; lift est. by 7%-10%
AUM crosses the landmark of Rs 1trn and spreads stable QoQ
Opex controlled & asset quality party continues

JP Morgan on Cholamandalam Investment and Finance Co

Double upgrade to Overweight from Underweight, Target raised to Rs 1020 from Rs 700
4Q up-front addressed concerns, with co-delivering on margin expansion
(PPOP margins: +30bps q/q) alongside a system-leading 38% y/y AUM growth
4Q PAT at Rs8.5bn (+24% y/y; ROE: 24.5%) is 20% ahead of JPMe
Biggest +ve surprise coming on margins - Reported NIMs are up 20bps q/q on higher yields while opex growth was contained with Opex to AUM improving 20bps q/q.
PPOP is up 40% y/y and 18% q/q

Morgan Stanley on Cholamandalam Investment and Finance Co

Maintain Equal-weight, Target Rs 875
PAT beat came from 2% higher NII, 17% higher other income,
& credit cost of 0.45% (we'd assumed 0.7%).
Stage 3 assets had net recoveries; write-offs fell QoQ;
total provision cover rose 260bp QoQ.
GS3 fell 50bp QoQ

Citi on Cholamandalam Investment and Finance Co

Maintain Buy, Target Rs 930

Jefferies on Cholamandalam Investment and Finance Co

Maintain Buy, Target 900

Macquarie on Cholamandalam Investment and Finance Co

Maintain Outperform, Target Rs 860
4Q: Beat driven by lower provisions
Strong growth, pre-Covid levels of profitability
Disbursement growth & AUM growth have been very strong
Would want the promoter dispute to be resolved to see further re-rating

Morgan Stanley on Tata Chemicals (CMP: Rs 993)

Maintain Overweight, Target: Rs 1192
F4 earnings were underpinned by very strong margins in US & UK, which offset cost-driven margin misses in its India segment.
Commentary on industry balances, downstream demand & cost trends will be key

Nomura on ABB (CMP: Rs 3,454)

Maintain Neutral, Target Rs 3,274
Q1CY23 beat led by significantly higher than the profitability of the electrification segment
Gross margin at 40.4% (up 360bp y-y, +175bp q-q) was higher than est. of 37.1%
EBITDA margin at 11.8% beat est. of 9.9%
Trades at 66x CY24F EPS of INR52.5

Macquarie on ABB (CMP: Rs 3,454)

Maintain Outperform, Target Rs 3,750
1Q FY23 PAT, at Rs 2.45 billion, came in 18 per cent ahead of expectations
Key standouts this qtr were strong double-digit EBIT margins across most segments (ex-process automation), which lead to a robust 11.8% EBITDA margin

CLSA on Petronet LNG (CMP: Rs 237)

Maintain Buy, Target 270

Jefferies on Petronet LNG (CMP: Rs 237)

Maintain Buy, Target raised to Rs 305 from Rs 270
Macquarie on Petronet LNG (CMP: Rs 237)
Maintain Outperform, Target Rs 290

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(Disclaimer: The views/suggestions/advice expressed here in this article is solely by investment experts. Zee Business suggests its readers consult with their investment advisers before making any financial decision.)

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