Hot Stocks: Brokerages on Apollo Tyres, ONGC, Delhivery and Biocon post Q2 results

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

JPMorgan on Apollo Tyres: Overweight| Target Rs 370
JPMorgan maintained an overweight rating on Apollo Tyres with a target price of Rs 370. The global investment bank slashed FY24-25 EPS by 2-3% to factor in slightly lower volume growth in India.

Our forecasts are 5-19% above consensus, said the note. The replacement demand growth was weaker than expected, it said.

Citi on ONGC: Sell| Target Rs 130
Citi maintained a sell rating on ONGC with a target price of Rs 130. Oil and gas production trends remained soft, it said.

Production growth trends and gas pricing developments are key developments to watch out for, Citi analysts added.

CLSA on Delhivery: Buy| Target Rs 532
CLSA upgraded Delhivery to buy with a target price of Rs 532. The long-term growth outlook remains intact, said CLSA.

“Adjusted EBITDA margin improved by 550 bps QoQ. A pickup in PTL and Express parcel volume is likely to help improve adjusted EBITDA,” said the note.

Goldman Sachs on Biocon: Buy| Target Rs 350
Goldman Sachs maintained a buy rating on Biocon with a target price of Rs 350. Sales/EBITDA grew +26%/+6% on a YoY basis.

The topline growth is driven primarily by strong growth across all the key segments, said the note.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)