Brokers release stock recommendations for March 18

UBS has started to cover BSE and has given it a 'buy' rating, with a target price set at Rs 5,350. Analysts believe BSE has a variety of revenue sources and that its profit margins could rise. BSE recently gained market share by improving how it is managed and offering new trading options. They noted that increased trading volumes on non-expiry days suggest that some trading activity has shifted from its competitor, NSE. Goldman Sachs issued a 'sell' rating on Dixon Technologies, with a target price of Rs 10,500. Analysts pointed out that while Dixon has some margin benefits from adding value, it will lose incentives from the PLI program for mobile phones by FY26. They think the company may struggle to exceed already high expectations. HSBC upgraded Tata Motors to a 'buy' but reduced its target price to Rs 840 from Rs 930. Analysts say the recent drop in the stock's valuation seems fair now. Jaguar Land Rover (JLR) is trading at a low valuation compared to its historical averages. Citi rated HPCL as a 'buy' with a target price of Rs 460. Analysts expect HPCL’s earnings for the past nine months could have been much higher if not for issues with LPG pricing. They believe that timely support from the leadership of oil marketing companies could reassure investors. Elara Securities recommends accumulating Varun Beverages, setting a target price of Rs 555. The stock has fallen by 25% over the past three months due to worries about competition and slower growth in India. However, analysts think that the early summer could boost demand and that Varun has a long-term opportunity due to low market penetration. They also highlight that new competitors still need to improve their market presence. As always, investors should consult with a financial advisor before making any decisions.