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Home >Markets >Stock Markets >Top stock picks: Brokerage recommendations on Ashok Leyland, NMDC and more

The Sensex closed at 52,904.05, up 134.32 points, or 0.25%, while Nifty was at 15,853.95, up 41.60 points, or 0.26%. PSU banks ended lower. The IT sector stocks outperformed led by Mindtree's Q1 positive earnings and ahead of Infosys' earnings that was released after the market close on Wednesday.

Brokerage recommendations:

Ashok Leyland: Motilal Oswal Financial Services in a note on Wednesday said that the company remains a pure-play on the commercial vehicles recovery cycle. Unlike the previous cycles, it is on a strong footing (lean cost structure and reasonable debt) and is focused on adding new revenue/profit pools.

It has a ‘Buy’ rating on the stock with target price of 156 per share.

NMDC: With NMDC’s board approving the scheme of demerger of the steel plant, we believe the Street will start attributing value to the same. Besides, NMDC thus far has funded the steel plant capex through internal accruals, Edelweiss Securities said in a note on Tuesday.

It has a ‘Buy’ stance with target price of 215 per share.

Mindtree: Emkay Global Financial Services in a note on 13 July said that Mindtree’s Q1FY22 revenue performance was ahead of our expectations, while margins came in a tad lower. ‘’We maintain sell on the stock considering rich valuations and anticipated pressure on margins.’’

The brokerage has a ‘Sell’ rating with target price of 2,200 apiece.

Cummins India: From a near to mid-term perspective, the government would drive ordering. Private capital expenditure/operating expenditure will be late-cycle recovery. Focus will remain on high government exposure, HDFC Securities said in a note on 13 July.

It has a ‘Buy’ recommendation on the stock with target price of 1,068 per share.

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

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