The Hong Kong headquartered firm is bullish on the companies like
, and .
On Tata Motors, CLSA has maintained an outperform rating with a target price of Rs 480 as it believes that pricing to remain strong on high demand and lower incentives.
“Jaguar volumes continue to slide, with JLR underperforming the peer,” said the brokerage. “Easing chip supply is a key catalyst for volume growth for JLR.”
CLSA has also maintained its buy rating on Zomato with a target price of Rs 90 on the counter after better than expected results from the food delivery platform and improved operational performance.
Conservation of cash and focus on profitability is the key for the company, it added. “Enhanced disclosures are also key positives for the company.”
Zomato announced its earnings on Monday and majority of the brokerage firms are bullish on the counter with strong target prices, suggesting strong upside in the counter.
Furthermore, CLSA has upgraded Aditya Birla Fashion and Retail to buy with a target price of Rs 355 after the strong topline momentum in the March 2022 quarter.
The brokerage firm is expecting EBITDA CAGR of 28 per cent for the year 2022-24. It is also positive on the primary infusion of Rs 2,200 crore from
to aid the expansion plans.