Brokerage Views: Nomura On M&M, HSBC Initiates Rating On Ola Electric And More

Nomura and Morgan Stanley are upbeat on Mahindra & Mahindra Ltd. after the launch of a new SUV in its 'Thar' collection. Meanwhile, HSBC is positive on manufacturing goals of the recently listed Ola Electric Mobility Ltd., initiating coverage on the electric two-wheeler maker.

NDTV Profit tracks what brokerages are putting out on stocks and sectors. Here are all the top calls from analysts you need to know about on Friday.

HSBC Initiates 'Buy' On Ola Electric

The brokerage has initiated a 'buy' call and set a target price of Rs 140, implying an upside 26% from the previous close.
The firm believes Ola Electric is worth investing in despite conservative view on electric vehicle penetration.
It expects EV manufacturing costs to fall by Rs 30,000-40,000 by fiscal year 2027 and 2028 that will make them competitive.
Further, barriers to switch to electric two wheelers is expected to fall.
The brokerage sees Ola’s battery venture as an upside risk, as the company could manufacture batteries of global quality.

Also Read: Ola Electric Launches Roadster Series, Teases Two New Motorcycles

Nomura On Mahindra & Mahindra

The brokerage maintains a 'buy' call and a target price of Rs 3,417, implying an upside of 24% from the previous close.
The launch of Thar Roxx has the potential to redefine urban SUVs, and the company is targeting the above Rs 12.5 lakh segment, which is 45% of the Indian SUV market.
Nomura projects sales could go up to 8,000–10,000 units per month and expects 50,000 bookings to come in on the first day of booking.
There could be high cannibalisation with the Thar 3-Door variant currently selling 5,000–6,000 units per month.
Built-in sales of 10,000 a month are projected for the Thar family in fiscal 2026, with upside risks.
M&M's Thar targets of being number one may require it to sell 15,000 to 18,000 units per month.
The brokerage maintains estimates that the company's SUV sales can grow by 15% annually over fiscal 2024–2027.

Morgan Stanley On Mahindra & Mahindra

The brokerage remains 'overweight' on the company, with a target price of Rs 3,304, implying an upside 20% from the previous close.
Thar Roxx is priced Rs 1.6 lakh higher than the three door variant.
The company has a market share of 27% in Rs 12.5 lakh SUV segment and is aiming to make Thar brand number one in this segment.
The brokerage expects both variants to clock in 8,000 to 9,000 units per month.
The firm maintains M&M will be fastest growing personal vehicle company.

Also Read: Mahindra To Transform Thar Into Market Leader For Mid-Sized SUVs Over 3-5 Years