Hot Stocks: Brokerages on ONGC, Godrej Consumer, M&M, Eicher Motors and UltraTech Cement

Morgan Stanley has maintained an overweight rating on ONGC with a target price of Rs 218 citing that the company has made two new discoveries. On the other hand, CLSA has underperformed Godrej Consumer with a target price of Rs 1000, retaining the margin improvement and category development. CLSA prefers M&M and Ultratech Cement in the auto and cement sector owing to visible signs of rural uptick. Emkay has a Buy rating on Eicher Motors, expecting a 25% FY23-25E EPS CAGR and setting a target price of Rs 4000.

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