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Brokerage firms such as JPMorgan maintained an overweight rating on Zomato, while Nomura maintained a buy rating on M&M, CLSA has a buy rating on Vedanta and Jefferies recommended a buy on Infosys.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:JPMorgan on Zomato: Overweight | Target: Rs 208Global brokerage JPMorgan maintained an overweight rating on Zomato with a target price of Rs 208. Zomato has been successful in some acquisitions, such as Uber Eats India, Runnr, and Blinkit.Movies and Live Events can eventual adjacency to Dining Out. Paytm had a meaningful market share in the Movies and Events business as a clear #2.Its decision to exit the business appears to be in line with its recent intention to prune "non-core businesses" in Q4.Nomura on M&M: Buy | Target: Rs 3,374Nomura maintained a buy rating on M&M and raised the target price to Rs 3,374 from Rs 2,818 earlier.Battery Electric Vehicle (BEVs) to drive into premium lane. The farm machinery segment also has high potential.Exports and 'growth gems' have further upside. The global investment bank expects M&M to continue delivering market-beating growth across segments.CLSA on Vedanta: Buy | Target: Rs 520CLSA maintained a buy rating on Vedanta but raised the target price to Rs 520 from Rs 430 earlier.The focus is on operational improvements. Aluminium will be a key value driver through capacity additions, cost control, and a change in mix.Improved earnings from Zinc and Crude oil are likely to be gradual and will be closely watched.The global investment bank sees several operational catalysts for sustained outperformance of the stock.Jefferies on Infosys: Buy | Target: Rs 1,630Jefferies maintained a buy rating on Infosys with a target price of Rs 1,630. The management expects discretionary IT spending to remain under pressure given macro/tech uncertainties.Growth in FY25 should be front-ended, thereby reducing the disconnect between growth and deal wins.It sees multiple opportunities in Gen-Al and is investing heavily to augment its capabilities.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)

SUDEEP SHAH HEAD - TECHNICAL & DERIVATIVE RESEARCH DESK, SBI SECURITIESWhere is the Nifty headed this week? Market’s focus would now shift to monsoon and the Union Budget. India VIX has cooled off 60% from the highs of 29-30 levels to the 13 zone, implying smooth sailing for the markets in the near term. Chart patterns suggest 23,200-23,250 will act as a crucial support and a possibility of consolidation in 23,200- 23,500 zone looks more likely. Above 23,500, a fresh move up to 23,800-24,000 would be witnessed. Weekly options data coupled with India VIX sustaining at higher levels suggests possible consolidation within the 23,200-23,800 range this week.What should investors do?Stock-specific action could continue in quality mid-caps and small-caps. We expect large-cap names from select private as well as power, capital goods, realty, defence, CPSE, as well as auto to outperform going ahead. Positive trade set-up is visible in select large-cap names such as M&M, TVS Motors, Bharti Airtel, Grasim, and UltraTech Cement. On the mid-cap front, stocks like L&T Finance, Indian Hotels, Concor, Engineers India, ICICI Lombard, BDL and Mazagon Dock could continue to witness strong buying interest.ARPAN SHAH SENIOR RESEARCH ANALYST, MONARCH NETWORTH CAPITALWhere is the Nifty headed this week?Nifty traded volatile in the first week of the series and made a hanging man candlestick formation on the weekly chart. On the derivative front, FIIs have covered their short positions and their net long positions have reached 47% from 12.8%, at the beginning of the series. India VIX has also corrected from elevated levels and fell below 13 post the election result, which indicates subdued momentum in coming days. Nifty is likely to consolidate for the next few days in 23,200-23,600 range, and breakout from this range will have a trending move in that direction.What should investors do?Among banking stocks, HDFC Bank is likely to outperform others and any dip in the stock should be used as a buying opportunity. The Nifty Pharma index has given a fresh breakout on the weekly chart and is likely to provide a 10-15% upside from the current level.Pharmabees (Pharma index ETF) is the safest bet to participate in this upside.Cipla and JB Chemicals are top picks from the sector. Insurance sector stocks have underperformed the broader market in the last two years, but they are showing signs of reversal for the last few days. LIC and HDFC Life can be added at the current level. Midand small-cap investors can look to accumulate Sula Vineyards, Fine Organicsand TCPL Packaging at current levels.MEHUL KOTHARI AVP - TECHNICAL RESEARCH, ANAND RATHI SHARES & STOCK BROKERSWhere is the Nifty headed this week?For Nifty, 23,000 is considered a crucial support level. On the other hand, 23,500 is identified as a significant resistance, where selling pressure is anticipated to be strong enough to cap any upward movement. If Nifty falls back inside the ascending channel, investors might take this as an opportunity to book profits up to 23,000 level, leveraging the expected support at this point. Conversely, if the index manages to close decisively above the 23,500-resistance level, it could signal further bullish momentum, potentially driving the index to 24,000 by the end of the next week. This scenario indicates a positive market sentiment and suggests that breaking above 23,500 would likely trigger additional buying interest, pushing the index higher. Hence, traders are advised to buy quality stocks on any significant dipsWhat should investors do?On the sectoral front, defensive like pharma, FMCG, and IT would be on the radar. One can look to invest in Pharmabees, and also ITBEES can be bought. On the stocks front, we like Hindustan Zinc for the coming months since we expect a fresh round of rally in silver. In addition, GMR Infra looks good for an upside target of `100–110, and the overall support seems to be around `85 for the stock.

Domestic indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights. In today's trade, shares of Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS among others will be in focus due to various news developments.APL Apollo TubesThe National Company Law Appellate Tribunal (NCLAT) has directed the NCLT to hear afresh the insolvency plea filed by APL Apollo Tubes against one of its purchasers of goods.RILReliance Jio’s technology and telecom industry collaboration with TM Forum has seen an 80% increase in resource contribution from its members, chairman Akash Ambani said.Som DistilleriesPolice said on Monday they had launched an investigation into Som Distilleries and Breweries after the government's child rights agency announced it had found children working at a distillery.Mahindra LifespaceRealty firm Mahindra Lifespace Developers Ltd is targeting a sharp increase in its annual sales of housing properties and industrial space to Rs 8,000-10,000 crore by 2027-28 fiscal on rising demand.LupinDrug maker Lupin said it has entered contract development and manufacturing organisation (CDMO) business, with newly formed subsidiary, Lupin Manufacturing Solutions (LMS).Vodafone IdeaVodafone Idea (Vi) may offer more shares in future to its vendors, including two European network vendors-Finland's Nokia and Sweden's Ericsson-to clear its remaining legacy operational dues, analysts said.Hindustan AeronauticsHindustan Aeronautics Limited (HAL) said the Defence Ministry has issued a request for proposal (RFP) for 156 light combat helicopters (LCH).Alembic PharmaAlembic Pharma received a final FDA approval for Icatibant injection, 30 mg/3 mL (10 mg/mL) single-dose prefilled syringe.Zomato, PaytmOnline food delivery platform Zomato said on Sunday that it is in talks with Paytm to acquire the financial technology company's movies and events business.Zydus LifeUSFDA has classified Zydus Life’s injectable manufacturing unit At Pharmez SEZ, Matoda unit as official action indicated.BioconUSFDA has issued three observations for Biocon's API facility (Site 6), located at Visakhapatnam, Andhra Pradesh.WiproWipro extended its partnership with Hanesbrands, an apparel brand, to further drive its digital transformation, business growth, and enhance long-term profitability.TCSA US court has ruled that Tata Consultancy Services is liable for misappropriation of trade secrets and levied penal charges of around $194 million on the IT major.Bharti AirtelBharti Airtel prepaid Rs 7,904 crore to the department of telecom to clear high cost deferred liabilities for spectrum acquired in 2012 and 2015.IndiGoIndiGo said it will receive a customised compensation from Pratt & Whitney for grounded planes due to unavailability of enginesAdani EnterprisesAdani Group's promoter entities, including billionaire Gautam Adani raised their stake in the flagship entity Adani Enterprises by just over 2%.

Bengaluru|Mumbai: Jewellery retailer Bluestone is negotiating an investment of about ₹830 crore ($ 100 million) from Peak XV Partners, Steadview Capital and Think Investments, people aware of the matter said.This pre-IPO (initial public offering) round will be a mix of share sale by early backers and fresh capital infusion that is expected to value the omnichannel retailer at around ₹7,500 crore ($900 million) pre-money, they added. Peak XV is investing about ₹415 crore ($50 million), the people said. "Peak XV is in talks to lead the funding amid a wider inclination of venture funds to tap domestic brands and offline retailers," said a person familiar with deal discussions.ET on May 29 reported Bluestone is stitching up a $100-million round and may join the unicorn club ahead of its planned public listing later this year. 111070908 Cash Out Peak XV has been backing retail brands such as Mokobara and Lyskraft of late. The round "is a mix of primary and secondary transactions. Some family offices, through special purpose vehicles, may also join the round, which is expected to close in the next few days," said a person aware of the matter.Accel and Kalaari Capital, the two early investors in Bluestone, own over 30% in the company. Others like Iron Pillar, Saama Capital, RB Investments, IvyCap and InfoEdge Ventures hold another 20% collectively. Founders Gaurav Singh Kushwaha and Ganesh Krishnan own nearly 14%.The latest round values Bluestone at more than double its last funding - in September 2023 - when it raised capital from Manipal Group chief Ranjan Pai, Zomato founder Deepinder Goyal and Zerodha's Nikhil Kamath, among others, at a $450-million valuation.Emails sent to Steadview, Think Investments and Bluestone chief executive Kushwaha did not elicit any response till press time on Monday. Peak XV (formerly Sequoia Capital India) declined to comment.VC WaveThis latest deal underscores a rising trend of tech-first venture funds betting on various retail companies where new-age brands are challenging incumbents.For Steadview and San Francisco-based Think Investments, the IPO-bound Bluestone is a good fit. Steadview's India portfolio includes Ola, Lenskart and Urban Company, while the Shashin Shah-led Think has backed companies such as Swiggy, Dream11 and Star Health Insurance.

A new smartphone at your doorstep, on-demand, in 10 minutes may not be far cry now. The likes of Swiggy Instamart, Zomato’s Blinkit, BigBasket’s BBNow and Zepto plan to expand their quick commerce services to electronic products and white goods categories by Diwali, delivering within 10-45 minutes, said industry executives. Brands are open to partnerships with these platforms, encouraged by the success of the model in fast-moving consumer goods (FMCG), they said. It’s a huge opportunity in the kitchen and small appliances segment, apart from handsets, television sets and microwave ovens, where ecommerce accounts for 35-45% of sales, according to the executives.BigBasket chief executive Hari Menon told ET that it will deliver most electronics products within 15 minutes, and large appliances such as refrigerators, air-conditioners and washing machines within 30-45 minutes. He said BigBasket will also sell smartphones through quick commerce, for which it is tying up with Tata electronics retail chain Croma. 111066804Limited range on offerEmails sent to Swiggy Instamart, BlinkIt and Zepto remained unanswered as of press time on Monday. Electronic products have high values, which can improve the revenue of quick commerce companies and also lead to stickiness. These players are unlikely to offer as vast a range of electronic products on their platforms as a Flipkart or an Amazon, industry executives said. They are expected to deliver only four to five top-selling models, especially among large appliances, or those based on customer ratings on other platforms. This is because storing products such as refrigerators and washing machines will require a lot more warehousing space than FMCG, apart from four-wheeler delivery. Nonetheless, quick commerce’s entry into smartphones could potentially disrupt the market and expand reach, said Madhav Sheth, chief executive at HTech, which has the India licence for Honor smartphones. “Consumers prefer either a hands-on experience or services like exchange and affordability (EMI) for buying smartphones. If quick commerce can crack it, smartphones can become a significant revenue stream for them,” he said. BlinkIt had done a pilot with smartphones, selling Apple’s latest iPhone for a limited period last year. Quick commerce has become the fastest growing channel for FMCG companies such as Hindustan Unilever, Dabur, Adani Wilmar and Parle Products, with its contribution to their overall ecommerce sales doubling to 35% in the previous fiscal year.Bullish Brands:So far, BlinkIt, Zepto, BigBasket and Swiggy sell small daily use electronics such as earbuds, smartwatches, fans, Bluetooth speakers, lighting products, mixer-grinders, clothes irons, hair trimmers, computer peripherals and streaming devices. A senior executive at electrical products maker Havells said quick commerce companies are showing interest to sell models that are most-reviewed on other ecommerce platforms. Havells sold fans and air-coolers for superfast delivery on a pilot basis this summer. Boat has started retailing five of its top-selling audio products and wearables through BlinkIt and Zepto, and now wants to sell soundbars too.