Hot Stocks: Brokerage upgrades Kotak Bank & D-Mart post Q4 results

JPMorgan on Kotak Mahindra Bank: Overweight| Target Rs 2,070

JPMorgan upgraded Kotak Mahindra Bank to overweight from neutral rating earlier with a target price of Rs 2,070 post March quarter results.

The private lender reported a 20% loan growth. The asset quality is solid, and the liquidity situation is also comfortable to push for growth.

The global investment bank believes that the bank can continue to compound balance sheet at 16% CAGR over the next 2 years. The stock is available at a reasonable price compared to the growth potential.

JPMorgan on D-Mart: Overweight| Target 5,400

JPMorgan upgraded Avenue Supermarts (D-Mart) to overweight post Q4 results and raised the target price to Rs 5,400 from Rs 3,555 earlier.

The company has strong moats and robust revenue growth augurs well for the stock. Global investment sees gradual margin expansion ahead.

Valuations, though premium, are below historical average and will be supported by longevity of healthy growth.

JPMorgan on Tata Technologies: Underweight| Target Rs 800

JPMorgan maintained an underweight rating on Tata Technologies with a target price of Rs 800. Despite the company surpassing revenue expectations in Q4, margins remained consistent with forecasts. Projections suggest that margins are expected to be sustained throughout FY25.

JPMorgan on Britannia Industries: Neutral| Target Rs 5,260

JPMorgan maintained a neutral rating on Britannia Industries with a target price of Rs 5,260. The Q4 numbers were In-line with estimates.

The company delivered subdued revenue growth weighed down by pricing actions. However, key positive was progressively improving market share.

The global investment bank sees downside risk to our earnings estimates post the Q4 print.

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