Today, leading brokerage firms have issued notes on many sectors and stocks. This list includes many stocks including Astral, HDFC Bank, Axis Bank, Muthoot finance, MCX, BEL and Piramal Pharma. Let us know its complete details ahead.

CLSA's View on Material Stocks
 

• Astral: Rating upgraded to Hold, target raised to ₹2,205 per share
• FY25-27 EPS raised by 1-3%, EPS estimates raised due to better volumes and profits
• Limited underperformance expected in pipes due to strong demand and stable prices
• There are expectations of major improvement in earnings in the cement sector
• But, in the current environment of weak prices, there are apprehensions about improvement in earnings
• UltraTech Cement most preferred stock in cement sector

Bernstein's View on Financials
 

• HDFC Bank, Axis Bank and Muthoot Finance most preferred stocks
• IndusInd Bank preferred as a strategic buy
• IndusInd Bank's MFI credit cost surprise may create buying opportunity in the short term
• Market Perform Rating on ICICI Bank, SBI, Kotak Mahindra Bank
• Underperform ratings on SBI Cards and Bajaj Finance
• Financial stocks are now in the midst of RoA normalization
• Private sector banks look attractive, at a premium to current RoA

Macquarie's view on the financials
 

• The pressure of unsecured loans is increasing
• Net credit loss in credit cards has currently reached close to 5% - 6%
• Concerns are also being seen in the MFI space
• Crisil expects credit cost in MFIs to increase by 100-150 basis points
• IndusInd Bank may be affected the most
• Changes in transaction fees are as per SEBI regulations
• FY26 EPS is expected to grow by 5% due to increased transaction fees
• The increase in transaction fees will affect traders with large volumes
• Its impact on trading volume needs to be seen

HSBC's view on HDFC Bank
: Buy
Target: ₹2,010 per share
 

• Target raised from ₹1,870 to ₹2,010 per share with buy recommendation
• To reduce LDR, the company may sell about 3% of loans: Reports
• Sale of loans will be crucial for quick normalisation of operations
• Increase in target considering high valuation of banks and NBFC subsidiaries

Macquarie's opinion on BEL
Opinion: Outperform
Target: ₹350 per share
 

• Company on track to meet FY25 guidance, eyes order inflow in second half
• Backlog supported growth, supply chains need to be monitored
• Pipeline orders will be monitored in Q2 management commentary
• The statement on supply chains will be monitored in Q2 management commentary

Jefferies Opinion on Piramal Pharma
: Buy
Target: ₹260 per share
 

• The company wants to increase revenue to more than $2 billion
• Target to reach EBITDA margin of 25% by FY30
• The company can achieve the earnings guidance, helped by innovator CDMO contracts
• Even after the current capex, the company expects net debt to EBITDA to reduce from 3.4x to 1x by FY30
• EBITDA expected to grow by 4-10% for FY25/26 on the back of strong margins