Brokerage firms have issued notes on several stocks today, including Marico, Angel One, Dabur India, ITC, Sun Pharma, Cipla, Syngene and Crompton Consumer. Apart from this, two brokerage firms have issued notes on steel stocks and one on cement stocks. Let us know their complete details ahead.

Nomura's opinion on Marico
: Buy
Target: ₹ 780 per share
 

• Consolidated revenue growth and volume growth in India marginally better than expected
• The company may give better sales performance than other companies in the second quarter
• CC sales growth from international business remained in single digit
• Gross margins are expected to remain under pressure on a year-on-year basis

Investec's View on Angel One
: Buy
Target: ₹3,000 per share
 

• SEBI has announced the final rules on F&O
• The new rules on F&O are slightly looser than the original draft
• F&O volumes expected to have little impact
• FY26 EPS at ₹149 per share and target multiple at 20x

Citi's opinion on Dabur
: Sell
Target: ₹570 per share
 

• Business update in second quarter indicates weaker performance than expected
• Consolidated revenue declines due to weakness in out-of-home consumption
• Earning estimates for FY25-27 cut by 3-6%

Macquarie's opinion on Dabur
: Neutral
Target: ₹560 per share
 

• EPS cut by 5% for FY26/27, demand weaker than expected
• Big reduction in EPS due to channel inventory rationalization in the second quarter
• The company expects recovery in sales growth from October
• But, sluggish demand momentum is a big concern

Morgan Stanley's opinion on steel
 

• JSPL: Overweight opinion, target raised from ₹970 to ₹1,200 per share
• JSW Steel: Overweight opinion, target raised from ₹895 per share to ₹1,200 per share
• Tata Steel: Equal Weigh's opinion, target raised from ₹135 to ₹175 per share
• SAIL: Underweight rating maintained, target raised from ₹105 to ₹125 per share
• Some slack is being seen in domestic inventory
• After the announcement of the recent relief package in China, the sentiment will be positive and steel prices will get support
• Reduced import risk will improve spreads in the short term

Nomura's opinion on steel
 

• JSW Steel: Buy recommendation, target ₹1220 per share
• JSPL: Buy recommendation, target ₹1,200 per share
• Strong domestic demand, continued deleveraging will benefit big steel companies
• Domestic HRC prices may remain range bound in H2FY25
• Slight recovery in HRC prices possible for FY26
• HRC margins in China are trading at low levels, recovery expected soon
• Weak domestic demand, monetary tightening and delay in expansion pose downside risks

HSBC's view on ITC
: Buy
Target: ₹580 per share
 

• The risk and reward ratio looks attractive
• ITC looks attractive amid difference in discounts among FMCG companies
• Stability in taxes on cigarettes is also a positive trigger
• Excessive tax shock would be the downside risk
• Slowdown in cigarette volume growth will also be a downside risk

Jefferies' view on cement stocks
 

• Cement prices saw an increase in the month of September
• In the second quarter, prices may decline by 2-2.5% on a quarterly basis
• Volume growth has remained weak due to erratic monsoon
• Variable costs remain a challenge, petcoke at 4-year low

UBS opinion on Sun Pharma
: Buy
Target: ₹2450 per share
 

• Specialty pipeline in dermatology is strong, recent growth is showing strength
• Nidlegy drug and Fibromum together generate $200 - $300 million in revenue in the EU
• Nidlegy will share 50% of the profits and Fibromun will share 55%

JPMorgan's Opinion on Cipla
: Overweight
Target: ₹ 1630 per share
 

• The management is targeting 9-10% growth in the domestic market
• Special focus on respiratory products, peptides and complex generics in the US
• Management is concerned about supply problems of Lanreotide product but this is likely to be short term only
• China could be a significant market, although it is still in its early stages

Jefferies Opinion on Syngene
Opinion: Underperform
Target: ₹640 per share
 

• Many contractor research institutes are indicating a slowdown in the biotech market
• Long-term weakness in biotech funding, long-term challenge for biotech RFP
• 60% of income comes from research services, 15% of income comes from biotech firms
• Recovery may be delayed during H2FY25
• Concerns about the decline in the company's earnings may increase

CLSA's view on Crompton Consumer
: Outperform
Target: ₹500 per share
 

• The stock may see weakness in the short term
• Transformation is in the right direction, focus on premiumization
• The company is particularly focusing on go-to-market strategy
• Butterfly Gandhimathi Turnaround on track, channel mix improves, margins up