Hot Stocks: Global brokerages on RIL, Eicher Motors and Cholamandalam Investment

JPMorgan initiated coverage on Cholamandalam Investment with an underweight rating and a target price of Rs 600. The stock closed at Rs 786 on 29 August. The global investment bank expects earnings to disappoint over FY23/24. There is competition from banks that can drive margin compression, said the note. It believes that markets have ascribed a significant valuation premium to the stock.

More To Explore

Multibaggers, mirages and market math

An experiment demonstrates how survivorship bias can create the illusion of market genius. By selectively sharing successful predictions and discarding failures, a perfect track record