zomato share price: Hot Stocks: Piramal Enterprises, Zomato and KNR Construction could give 20-40% return; here’s why

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

Emkay on Piramal Enterprises: Buy| Target Rs 1360| LTP Rs 955| Upside 42%

Emkay initiated coverage on Piramal Enterprises with a buy rating and a target price of Rs 1360 in the next 12 months which translates into an upside of over 40 per cent from Rs 955 recorded on 21 September.

DHFL acquisition is leap-frogging into the big league to become a sizeable player in the fast-growing affordable housing segment, it said.

Retail asset under management (AUM) is expected to increase to Rs 81,000 cr in the coming five years, said the note.

HSBC on Zomato: Buy| Target Rs 85| LTP Rs 63| Upside 34%

HSBC maintained a buy rating on Zomato with a target price of Rs 85 which translates into an upside of over 34 per cent from Rs 63 recorded on 21 September.

The profitability improvement trend should continue, it said. The global investment bank sees Zomato on track to achieve EBITDA break-even by mid-2023E.

“Blinkit is expanding beyond grocery now. It remains positive on long-term prospects of a hyperlocal business,” said the note.

Motilal Oswal on KNR Construction: Buy| Target Rs 310| LTP Rs 246| Upside 26%

Motilal Oswal maintained a buy rating on KNR Construction with a target price of Rs 310 which translates into an upside of 26 per cent from Rs 246 recorded on 21 September.

“KNRC remains net debt free and will focus on asset monetization ahead. Due to the monsoon and delays in receivables from the Irrigation segment, the pace of execution is likely to be slow in the near term,” MOSL said.

As additional projects move into execution in the later part of FY23, the pace of execution is expected to improve in FY24, it added. We expect the margin to remain stable, with a reduction in input costs and execution of some high-margin irrigation projects, the brokerage said further.

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