New Delhi: Amid the volatility in the stock market, brokerage firms are focusing on the shares of several major companies. These include companies like Hero MotoCorp, Hindustan Aeronautics, Thermax, and Mamaearth. Analyzing the quarterly results of these companies, brokerage firms have changed their ratings and target prices. Target prices have been cut for some companies, while some have also been upgraded. Let us know about these companies in detail.

Hero MotoCorp

Brokerage firm Jefferies has recommended buying Hero MotoCorp shares, but has reduced its target price to ₹ 5,500 per share. According to the company's Q2 results, EBITDA/vehicle has reached a record level. Jefferies believes that India's two-wheeler market can see strong growth in the coming three years, especially in the premium bike and electric vehicle (EV) segments. Nomura has also recommended buying this stock and has set a target price of ₹ 5,805 per share for it. He says that improvement in rural markets and an increase in margins are positive signs for the company.

 

Muthoot Finance

Morgan Stanley has given an equal-weight rating to Muthoot Finance shares, and has set a target price of ₹1,600 per share. The brokerage says that the continuous rise in gold prices and improvement in asset quality are concerns. However, gains may be limited due to high dependence on gold prices and rising valuations.
 

Hindustan Aeronautics (HAL)

Brokerage firm CLSA has given an outperform rating on Hindustan Aeronautics stock, and has set a target price of ₹4,731 per share for it. CLSA believes that the company's pipeline is very strong and despite the delay in aircraft and helicopter orders from Russia, the company has a pipeline of $45 billion. Apart from this, orders like SU-30 and GE engine deals can be positive for the company.

 

Mamaearth

Jefferies has a buy recommendation on Mamaearth shares, though it has lowered its target price to ₹425 per share. The company reported disappointing Q2 results, reporting a drop in inventory and a loss. However, the brokerage believes that the founders have faith that they will get the company back on track, and this could be a startup that will get through the pain.

 

Thermax

Brokerage firm Jefferies has recommended buying Thermax shares and has set a target price of ₹6,100 per share for it. Although the company's Q2 results were relatively low, the brokerage believes that due to strong order flow and a healthy outlook, EPS can grow at a rate of 28% CAGR in the coming years. Also, there are possibilities in the field of green hydrogen.