Hot Stocks: Brokerages view on Honasa Consumer, Paytm, Info Edge and Birlasoft

Brokerage firm Jefferies maintained a buy rating on Honasa Consumer, ICICI Securities recommended a buy on Info Edge India, Geojit recommended a hold on Paytm and Sharekhan has a buy rating on Birlasoft.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Jefferies on Honasa Consumer: Buy| Target Rs 530
Jefferies maintained a buy rating on Honasa Consumer with a target price of Rs 530. Honasa is still evolving in its offline journey and will make mistakes in the online.

Given the online mix, pushing inventory may not yield much, based on our calculation, said the note.

Sharekhan on Birlasoft: Buy| Target Rs 750

Sharekhan maintained a buy rating on Birlasoft with a target price of Rs 750 due to improving earnings growth trajectory, leadership refresh, and relative earning outperformance.

Key hirings under the new CEO are almost complete and the company is poised for a higher growth trajectory once macro headwinds subside.The company is investing in emerging tech capabilities such as Generative AI, RPA and Machine learning to stay agile while increasing and diversifying offerings.

Geojit on Paytm: Hold| Target Rs 941
Geojit maintained a hold rating on One97 Communications (Paytm) with a target price of Rs 941. One97 Communications Ltd provides payment solutions and online services such as hotel booking, top-ups, data processing, games, mobile content and bill payment.

Warren Buffet-owned Berkshire Hathaway divested its 2.46% equity stake in One97 Communications, by incurring a 40% loss of ~Rs. 600cr.

“We believe the impact of the RBI regulations should be minimal on Paytm’s ongoing operations. However, uncertainty hovers over the near-term outlook,” said the report.

“Therefore, we downgrade our rating to HOLD with a revised target of Rs. 941 based on 4.3x FY25E P/sales,” added the note.

ICICI Securities on Info Edge India: Buy| Target Rs 6050
ICICI Securities re-initiates coverage on Info Edge India with a buy rating and a target price of Rs 6050. Info Edge’s stock has corrected ~35% from all-time highs over the last two years on growing concerns around IT hiring and the worsening global macro-outlook amidst rising geopolitical risks.

“Now that the global macro-outlook is improving and Naukri’s ‘JobSpeak’ data seems to indicate sequential improvement in IT hiring trends, we believe the stock will likely re-rate,” said the note.

(You can now subscribe to our ETMarkets WhatsApp channel)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)