Hot Stocks: Citigroup maintains sell on Vedanta; Macquarie recommends outperform on Siemens

Global brokerage firm Citigroup maintained a sell rating on and Macquarie retained an outperform rating on .

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Citigroup on Vedanta: Sell | Target Rs 235

Citigroup maintained its sell rating on Vedanta with a target of Rs 235. Vedanta’s board has announced a 3rd interim dividend.

The 1st and 2nd interim dividend was of Rs51 per share. Vedanta’s dividend outflow for FY23 thus far would amount to $3.2bn.

According to the brokerage, the dividend yield remains attractive. “Our outlook for aluminium and zinc is fairly muted for the next few months,” said the note.

Macquarie on Siemens: Outperform | Target Rs 3020

Macquarie maintained its outperform rating on Siemens with a target price of Rs 3,020 even though margins and order inflow disappointed were below expectation.

However, the execution was in-line and the company recorded a strong margin performance in Smart infrastructure, the brokerage said.

Energy and Mobility margins were below 10% for the last two consecutive quarters, it added.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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