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Hot Stocks: Broker Reviews on Indian Hotels, Honasa Consumer, NMDC and Paytm

Brokerage firm UBS has a buy rating on India Hotels while Jefferies has maintained a buy rating on India Hotels. Honasa Consumer.

Citi also maintained a buy rating on NMDC and BofA Securities have recommended a Buy on Pay.

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

UBS on Indian hotels: Buy| Target Rs 500
UBS maintained a buy rating on Indian Hotels, but raised the target price to Rs 500 from Rs 410 earlier.

The market seems skeptical about the growth of ARR/occupancy in the context of an increase in the supply of luxury products. However, the analysis suggests limited overlap.

The brokerage firm remains positive on the overall market on the supply/demand balance.

He believes that Indian hotels can continue to surprise in terms of rooms, ARR and occupancy. UBS raises its earnings estimates for FY25-26E by 8% to 11%.

Jefferies on Honasa Consumer (Mamaearth): Buy | Target Rs 520
Jefferies has maintained a buy rating on Honasa Consumer with a target price of Rs 520. Investors like Honasa’s track record, but the talk is about growth, margins, competition, offline, etc.

Margins should converge with those of peers over the long term. Management must continue its growth program. He expects major investors to be patient in this area.

Citigroup on NMDC: Buy| Target Rs 190
Citigroup maintained a buy rating on NMDC but raised the target price to Rs 190 from Rs 160 earlier.

The brokerage expects the near-term iron ore price to be $120/t, with potential for further upside towards $130/t.

NMDC fine prices are more than 20% below export parity. Prices have a margin of increase of Rs 1,000/t.

Management does not commit to future price developments. NMDC trades at 3.8x EV/EBITDA for FY25, while its global peers trade at 4.5-6x. NMDC offers an FCF yield of 8.5%.

BofA Securities on Paytm: Buy | Target Rs 1165

BofA Securities has maintained a buy rating on Paytm with a target price of Rs 1165. There are some risks that could lead to a slowdown in loan growth, but the overall impact is limited.

The impact is felt on personal loans and not on the merchant/BNPL segment.

“We maintain our purchases as we find the risk-reward favorable and find Paytm well positioned competitively,” the note said.

Any better-than-expected growth or the signing up of more partners would likely be received positively by the market.

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