Brokers provide stock recommendations for March 24

Brokers have released their stock recommendations for March 24, highlighting several companies with potential for growth. Nuvama has kept its 'buy' rating for Jindal Stainless but has lowered its target price to Rs 723 from Rs 836. Analysts believe the company is facing challenges due to weak export demand and high imports. As a result, Jindal Stainless is shifting its focus to lower-margin segments and delaying its downstream operations in Jajpur by 8 to 9 months. Jefferies has given a 'buy' rating to DLF, setting a target price of Rs 1,000. The company’s management recently shared a vision for fiscal year 2030. They aim to maintain high residential margins, double lease income to Rs 10,000 crore, increase dividends, and reduce net debt to zero. They expect cash flows and profits to double by FY30. Macquarie has an 'outperform' rating for NTPC with a target price of Rs 475. Analysts see NTPC as a strong investment due to India's growing power demand and its stable thermal assets. Upgrades to NTPC's thermal projects are also being considered. Citi has a 'buy' recommendation for ICICI Bank, with a target price of Rs 1,600. Analysts noted a positive outlook for the bank’s net interest margin in the fourth quarter. They believe there is a steady recovery in corporate lending and that the bank is well-positioned for profitable growth without issues in deposit mobilization. Morgan Stanley has an 'equal weight' rating for Manappuram Finance, raising its target price to Rs 220 from Rs 180. They expect clearer strategies and earnings as Bain Capital is proposed as a new promoter. Investors are advised to consult with a financial advisor before making any investment decisions.