Top brokerage firm CLSA has maintained a buy rating on Bharti Airtel, SBI Life, and Tata Motors, while retaining its underperform rating on HDFC Life. CLSA believes that Bharti Airtel’s rising data subscribers and ARPU growth are positive signs. SBI Life is expected to report a soft Q1 but is targeting strong growth in FY24. However, CLSA maintains that HDFC Life has little room for further upside. Jefferies has initiated an underperform rating on Gujarat Gas due to unfavorable propane economics. CLSA remains bullish on Tata Motors, with JLR retail volumes growing at a strong pace.
