Auto stocks have led the momentum followed by IT, FMCG and financial stocks.Foreign brokerage Jefferies has chalked out a list of 25 stocks with a ‘buy’ recommendation. Buy with PT of Rs1,180 on 2.7x FY25E adjusted PB; ADR PT is $29.We forecast it to deliver 16% CAGR in normalized profit over FY23-26 and ROE of 19% in FY24. Buy with PT of Rs 1,150 on 1.9x FY25E adjusted PB.We rate the stock as a buy with a price target of Rs 1,550 based on 1.7x FY25 P/adj. BV.BUY with a PT of Rs 8,310 based on 6.5x December-24 PB for main business.Stronger growth trajectory and reducing cyclicality should support higher valuation multiples. Our PT of Rs 1,110 is based on 4.3x March 25e BV.Our RI model based PT of Rs 925 implies PE of 26x FY25E EPS.We rate the stock as a buy with a price target of Rs670 based on 2.8x FY25E P/EV.Tata Motors: Buy | Target: Rs 665TVS Motors: Buy | No TargetL&T: Buy | Target: Rs 2,900Thermax: Buy | Target: Rs 2,700 Macrotech Developers : Buy | Target: Rs 615Godrej Properties: Buy | Target: Rs 1,600 Godrej Consumer Products : Buy | Target: Rs 1,200Zomato: Buy | Target: Rs:Reliance Industries: Buy | No TargetNavine Fluorine: Buy | Target: Rs 5,610Sun Pharma: Buy | No Target Max Healthcare : Buy | Target: Rs 600Medanta: Buy | No Target UltraTech Cement : Buy | Target: Rs 8,670Polycab: Buy | Target: Rs 4,290Supreme Industries: Buy | Target: Rs 3,530Kajaria Ceramics: Buy | Target: Rs 1,520.Wipro: Underperform | Target: Rs: 320Tech Mahindra: Underperform | Target: Rs 845Tata Power: Underperform | Target: Rs 185Cummins: Underperform | Target: Rs 1,275Gujarat Gas: UnderperformAsian Paints: Underperform

Source: Economic Times June 08, 2023 09:20 UTC