7 Stocks That Were On The “Buy” List Of Motilal Oswal This Week

Markets have been exceedingly volatile over the last 1-week. Here are a list of stocks that were on the buy list of Motilal Oswal this week.

Mahindra and Mahindra stock

For Mahindra and Mahindra, the company had a "buy" with a price target of Rs 1,525. "We cut our FY24E EPS by 8% to factor in: a) lower tractor/SUV volumes, and b) the adverse impact of losses from new businesses. We reiterate our BUY rating as we still expect 20% EPS CAGR and 2pp RoCE improvement over FY23-25, along with attractive valuations," the brokerage has said.

Buy Grasim Industries stock

This was another share where the brokerage has a buy call with a price target of Rs 1900 on the stock. "We have a BUY rating on the stock with a target price of Rs 1,900, as we value: 1) its holding in subsidiary companies by assigning a discount of 35%; 2) standalone business at 6.5x EV/EBITDA, and 3) investments in the Paints business at 1x of investments (excluding our assumptions of working capital requirements out of announced capex)," the brokerage has said in its report.

Bajaj Auto

Bajaj Auto was another stock where MO had a buy call on the stock with a price target of Rs 4150, which is about 11% higher from the current market price. "We met with the management of Bajaj Auto to receive updates on its existing businesses, new growth drivers, and EV plans. The management expects exports to remain stable over the next few months at lower levels of Jan'23, and expects recover only from 2QFY24E. In the medium term, its entry in Brazil and the upcoming Triumph launch are the new growth drivers. Brazil motorcycle market is 1/3rd of Indian motorcycle industry in revenue terms. The upcoming product launch in the cruiser segment from its alliance with Triumph will plug the gap in its product portfolio and has aspiration to have atleast 17-18% market share (similar to domestic motorcycle segment market share)," the brokerage has said.

Preferred large cap stocks to buy

According to the Morning India report, the top largecap preferred stock ideas of the fund include names like TCS, ITC Bharti Airtel and Bajaj Finance.Investing in equities poses a risk of financial losses.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, and the author are not liable for any losses caused as a result of decisions based on the article. This article only incorporates recent stock-related information about the companies from the brokerage report of Motilal Oswal.