Stock recommendations by brokers for March 28

Macquarie has initiated its coverage of Trent with an ‘outperform’ rating and a target price of Rs 7,000. Analysts said that company was India's leading fashion retailer in the value to mid-premium space. Trent also leads Asian peers on growth, return profile and inventory turns. They see this sustaining as an integrated back-end allowing quicker fashion-forward style drops and part new stores. The company has best retailing metrics among Asian peers and it’s a play on India's rising discretionary spend in fashion.
HSBC has a ‘buy’ call on Adani Ports & SEZ with a target price of Rs 1,600. Analysts said Adani Ports reiterated its EBITDA guidance of Rs 18,800-18,900 crore for FY25. The company emphasised its ambition to become an integrated end-to-end logistics services provider. They view the company as a long-term proxy for India’s trade and infrastructure growth.
CLSA has an ‘outperform’ call on L&T with a target price of Rs 4,151. Analysts said that company won its biggest ever EPC contract recently, valued at over $4 billion for an offshore gas project from Qatarenergy LNG. This adds to its over backlog by 6.6%. This contract clearly takes L&T into the big leagues of global EPC, capable of handling multi-billion dollar contracts.
JPMorgan has an ‘overweight’ call on HAL with a target price of Rs 4,958. Analysts said GE Aerospace has started delivery of F404-IN20 engines for LCA MK1A fighter aircrafts to HAL. This delayed delivery of engines has been an overhang on HAL. So now with the delivery starting, overhang has been lifted. The company continues to have a large opportunity set and enjoys almost a monopoly status.
Goldman Sachs has raised the end-2025 gold price forecast to $3,300-per ounce from $3,100 earlier. Analysts said stronger-than-expected ETF inflows and sustained central bank demand could sustain the current rally in the yellow metal.
(Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions)