Home >Markets >Stock Markets >Top stock picks: Brokerage recommendations on Mahindra Lifespace, SAIL, BHEL and more

After slipping in Monday's early deals, Indian indices staged a recovery to close marginally higher. The Sensex closed at 52,551.53, up 76.77 points, or 0.15%, while the Nifty closed at 15,811.85, up 12.50 points, or 0.08%. FMCG, IT and PSU banks were the top index supporters. Among broader indices, the BSE midcap and smallcap indices closed 0.56% and 0.11% lower respectively on Monday.

SGX Nifty indicates a positive opening for the Indian markets on Tuesday.

Brokerage recommendations:

Mahindra Lifespace Developers: ICICI Securities has initiated coverage on the stock with a Buy rating and target price of 939. The brokerage said that the company is perceived to have missed the bus over the last decade as peers have significantly scaled up their residential business while MLIFE has remained stagnant. However, with a new leadership in place and backing from the company’s parent (the Mahindra Group), the company is targeting aggressive. expansion over the next three-four years.

Century Plyboards: In a note on Monday, ICICI Securities said that factoring-in the Q4FY21 beat, we revise our revenue and earnings estimates by -2.5%/-2.8% and -7.7%/6.1% for FY22E/FY23E respectively. We now expect CPBI to report revenue and adjusted PAT CAGRs of 15.2% and 30.2% respectively over FY21-FY23E.

With the recent surge in stock price, we downgrade it to ADD (vs Buy earlier) with a revised target price of 460 (earlier: 432), it said.

BHEL: Motilal Oswal Financial Services in a result note on Monday said that BHEL continues to struggle with a weak ordering environment in the power sector, high receivables, and huge FY21 employee cost. We now estimate FY22E to be loss making.

The brokerage has a Sell rating on the call with target price of 40 per share.

SAIL: IDBI Capital markets in a June 11 note said that domestic steel prices have remained firm led by strong steel demand in global markets. The brokerage has raised its realization estimates for FY22-FY23 by 10-14% as they foresee improved domestic demand and price recovery. It has a Buy call on the stock with target price of 152.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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