*Fund Houses Recommendations*


Jefferies on *Amber:* Maintain Buy on Company, target price at Rs 8840/Sh (Positive)

Jefferies on *Syrma SGS:* Maintain Buy on Company, target price at Rs 730/Sh (Positive)

Jefferies on *Jubilant Food:* Maintain Buy on Company, target price at Rs 1000/Sh (Positive)

Jefferies on *ONGC:* Maintain Buy on Company, target price at Rs 375/Sh (Positive)

Nomura on *Dixon:* Maintain Buy on Company, target price at Rs 22256/Sh (Positive)

Nomura on *Voltas:* Maintain Buy on Company, target price at Rs 2142/Sh (Positive)

MS on *Maruti:* Maintain Overweight on Company, target price at Rs 14124/Sh (Positive)

MS on *Petronet:* Maintain Equal weight on Company, target price at Rs 400/Sh (Positive)

JP Morgan on *Petronet:* Maintain Overweight on Company, target price at Rs 377/Sh (Positive)

Citi on *Eicher Motors:* Maintain Buy on Company, target price at Rs 5350/Sh (Positive)

Jefferies on Utilities: Aug-Nov 2024 power demand has been weak at 1% YoY decline, and 8MFY24 is just 4.4% YoY rise, *JSW Energy and NTPC* are top picks (Positive)

Jefferies on Transportation and Logistics: Our top picks are *JSW Infra, Concor, and TCI Express* (Positive)

CLSA on *India Strategy:* Add *Tata Motors, NTPC, Nestle and Britannia* to India-Focus portfolio. Remove HDFC Bank (Positive)

Morgan Stanley on NBFCs: Our key Overweight rated stocks where we see value and meaningful upside potential with margin of safety are *PNB Housing Finance and Shriram Finance* (Positive)

Jefferies on *India Strategy:* India long-only portfolio outperformed since inception rising by 87% compared with a 42.6% increase in the MSCI India Index and a 36.7% gain in the Nifty. Remains 49% invested in India (Positive)

Nomura on Consumer Staples: Consumer staples prefer *Marico, Hindustan Unilever and ITC* (Positive)

HSBC on *Banks:* Credit growth stabilizes after 5 months of moderation, with improved growth in NBFCs and retail loans; expects 12.5% growth in FY25, but GDP slowdown remains a risk (Neutral)

MS on *DMart:* Maintain Underweight on Company, target price at Rs 3702/Sh (Neutral)

Citi on *DMart:* Maintain Sell on Company, target price at Rs 3500/Sh (Neutral)

Jefferies on *Dixon:* Maintain Underweight on Company, target price at Rs 12600/Sh (Neutral)

Jefferies on *Kaynes:* Maintain Hold on Company, target price at Rs 6950/Sh (Neutral)

DAM on *Petronet:* Maintain Buy on Company, target price at Rs 385/Sh (Neutral)

Citi on *TVS Motors:* Maintain Sell on Company, target price at Rs 1700/Sh (Neutral)

CLSA on *Indusind Bank:* Maintain Overweight on Bank, cut target price at Rs 1300/Sh (Neutral)

CLSA on *Bandhan Bank:* Maintain Overweight on Bank, cut target price at Rs 220/Sh (Neutral)

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