top brokerage calls

May 4, 2022

Wednesday’s top brokerage calls: Godrej Properties, Britannia, Tata Steel and JSW Energy

godrej properties, share price, brokerage calls, stock market india, Jefferies on Godrej Properties — **Jefferies on Godrej Properties |** A strong launch pipeline should help the developer deliver on presales guidance, said Jefferies while maintaining its ‘buy’ recommendation on the stock.

Nomura on Britannia, britannia, share price, stock market india, brokerage radar — **Nomura on Britannia |** The brokerage firm has maintained its ‘neutral’ stance on the FMCG company’s stock and has lowered its EPS estimates by 7 percent for FY23 and by 3 percent for FY24 in order to factor in margin pressure.

Citi on JSW Energy, JSW Energy, share price, stock market india, brokerage calls — **Citi on JSW Energy |** Citi has maintained its ‘sell’ rating on shares of JSW Energy with a target price of Rs 206. Q4 profit grew seven times on one-off reversals while recurring consolidated EBITDA was flattish largely due to higher fuel costs, according to the brokerage house.

JPMorgan on Tata Steel, share price, brokerage calls, stock market india — **JPMorgan on Tata Steel |** The brokerage firm has raised its EPS estimate by 24 percent for FY23. Tata Steel may see another year of earnings upgrades given strong business operations in Europe and India, JP Morgan said while maintaining its ‘overweight’ rating on the steelmaker’s stock.

September 27, 2021

Monday’s top brokerage calls: Lupin, United Breweries and more

A penalty of Rs 750 crore seems fairly large in the context of the company’s cash or reserves, the brokerage firm said. However, the long-term story of category growth and premiumisation remains solid, Citi added.

The company’s focus should now shift to performance of new launches as restaurants and bars reopen, the brokerage firm said. Strong performance from Q3 should shift the focus back to volume growth, Goldman Sachs added.

ONGC remains best-placed amid the surge in gas, coal and oil prices, according to the brokerage firm. Coal and gas are in an upward spiral and there is an upside risk to brent prices. Gas realisations would increase by at least $1/mmBtu each in October and April, JPMorgan said.

Valuation multiple has a notable room for expansion, says Axis Capital. The brokerage firm believes that strong demand revival and pent-up demand are likely to support the growth rate for the company.

CLSA says further earnings downgrade for Lupin are likely if key US products do not deliver as per expectations. Being under US Food and Drug Administration’s scrutiny for a long period has reduced the importance of Goa plant, but clearance of Pithampur Unit II and Somerset are more important from US perspective, according the brokerage firm.

Immediate triggers remain elusive for Lupin, said Macquarie while upgrading the stock’s rating to neutral from underperform. Strong Albuterol ramp-up and likely resolution of Goa unit provide incremental comfort, the brokerage firm added.

July 30, 2021

Friday’s top brokerage calls: Tech Mahindra, TVS Motor, LIC Housing, and more

Citi on LIC Housing: The brokerage has a ‘buy’ call on the stock with the target at Rs 565 per share. It noted that the company’s PAT is below estimations due to higher provisions and opex.

Citi on Tech Mahindra: The brokerage has a ‘buy’ rating on the stock with the target at Rs 1,380 per share. The company has reported good first-quarter results with revenue/EBIT above expectations, the brokerage said.

Citi on TVS Motor: The brokerage has a ‘sell’ call on the stock with the target at Rs 530 per share. The brokerage is surprised by the company’s first-quarter realisations that drove the slight EBITDA beat, but higher capital costs resulted in a PAT miss, it said.

Goldman Sachs on Tech Mahindra: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 1,059 per share. It noted that the company has done better than expectations in this quarter but it remains on the sidelines given the lack of broad-based digital capabilities.

Jefferies on TVS Motor: The brokerage has a ‘buy’ rating on the stock with the target at Rs 800 per share. The company reported its highest-ever gross-profit-per-vehicle, the brokerage said, adding that it is also turning aggressive on electric vehicles.

JPMorgan on Tech Mahindra: The brokerage has a ‘buy’ rating on the stock with the target at Rs 1,250 per share. The company has reported strong Q1 earnings, the brokerage said, with a beat across revenues, margins, and profits.

JPMorgan on Colgate: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 1,850 per share. The company’s unexciting revenue momentum and peak margin mean there are no catalysts for EPS upgrades, the brokerage said.

Macquarie on LIC Housing: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 600 per share. According to the brokerage, LIC Housing had a very weak quarter and the asset quality is disappointing.

July 29, 2021

Thursday’s top brokerage calls: Airtel, Reliance Industries, MGL, and more

Citi on Bharti Airtel: The brokerage has a ‘buy’ rating on the stock with the target at Rs 660 per share. According to the brokerage, Wednesday’s target hike in the lower-end 2G segment could provide a further 2 percent benefit to its mobile revenues.

CLSA on Nestle India: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 18,500 per share, lower than the previous target of Rs 19,000. It noted that the company has missed the topline and margin estimates but that the second quarter normalcy should help recovery.

Goldman Sachs on Bharti Airtel: The brokerage has a ‘buy’ rating on the stock with the target at Rs 665 per share. It noted that the tariff hikes have been the companies’ most significant catalyst since 2019.

JPMorgan on Nestle: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 17,700 per share. It noted that the company has missed the second-quarter revenue estimates and the gross margins have declined QoQ.

Macquarie on MGL: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 1,400 per share. It noted that the company has beat the first-quarter earnings on better margins and volumes.

Morgan Stanley on Reliance Industries: The brokerage has an ‘overweight’ rating on the stock with the target at Rs 2,269 per share. The brokerage sees an upgrade cycle ahead as all its businesses see positive operational triggers.

UBS on Bharti Airtel: The brokerage has a ‘buy’ rating on the stock with the target at Rs 655 per share. The brokerage said the telecom company has a 4 percent upside to revenues in an optimistic scenario.

Wednesday’s top brokerage calls: IndusInd Bank, Dr Reddy’s, Canara Bank, and more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Summary

While UBS is ‘neutral’ on IndusInd Bank, CLSA is bullish on the stock. CLSA has also downgraded Ramco Cements to ‘underperform’. Here’s a look at the top brokerage calls for today:

UBS on IndusInd Bank: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 1,100 per share. The brokerage says its first-quarter results were in line with subdued expectations and the management expects the second half of 2021 to see accelerated loan growth.

Morgan Stanley on Canara Bank: The brokerage has an ‘underweight’ rating on the stock with the target at Rs 155 per share. It noted that the lender’s coverage and capital ratios are lower than its peers.

CLSA on IndusInd Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,350 per share. It noted that the lender is delivering on granularity and stability and its first-quarter PPoP is in line with estimates.

CLSA on Ramco Cements: The brokerage has downgraded the stock to give it an ‘underperform’ rating from the ‘outperform’ rating, with the target at Rs 1,060 per share. The brokerage says the company’s volume growth remains elusive.

CLSA on Dr Reddy’s: The brokerage has a ‘buy’ call on the stock with the target at Rs 5,930 per share. The brokerage said the company’s margin profile should improve in the coming quarters on limited competition in the US launches.

JPMorgan on Torrent Pharma: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 2,750 per share. The brokerage noted that the key surprise the company gave in its first-quarter results was its SG&A cost was lower than the previous year’s.

Morgan Stanley on DLF: The brokerage has an ‘overweight’ rating on the stock with the target at Rs 399 per share. It noted that the company has started to show consistency in key deliverables of pre-sales and de-leveraging.

CLSA on Torrent Pharma: The brokerage has a ‘buy’ call on the stock with the target at Rs 3,650 per share. The brokerage said the company has a strong India positioning and is improving the outlook for its exports.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

today's market

Global Top Gainers Top Loosers nifty sensex

index	Price	Change
nifty 50	₹16,986.00	-72.15
sensex	₹1,882.60	+28.30
nifty IT	₹2,206.80	+30.85
nifty bank	₹1,318.95	-14.95

index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
nifty bank	₹1,318.95	-1.95

index	Price	Change
nifty 50	₹16,986.00	-72.15
sensex	₹1,882.60	+28.30
nifty IT	₹2,206.80	+30.85
nifty bank	₹1,318.95	-14.95

index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
nifty bank	₹1,318.95	-1.95

index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
nifty bank	₹1,318.95	-1.95

Currency

Company	Price	Chng	%Chng
Dollar-Rupee	73.3500	0.0000	0.00
Euro-Rupee	89.0980	0.0100	0.01
Pound-Rupee	103.6360	-0.0750	-0.07
Rupee-100 Yen	0.6734	-0.0003	-0.05

Quiz

Are you a Crypto Head? It’s time to prove it!

10 Questions · 5 Minutes

Start Quiz Now

Win WRX (WazirX token) worth Rs. 1500.

Question 1 of 5

What coins do you think will be valuable over next 3 years?

BTC

SOL

ETH

July 27, 2021July 27, 2021

Tuesday’s top brokerage calls: Tata Motors, Axis Bank, Kotak Mahindra Bank, and more

Citi on Kotak Mahindra Bank: The brokerage has a ‘neutral’ call on the stock with the target at Rs 1,930 per share. The brokerage said the lender has strong NIM but slow growth.

CLSA on M&M Financial: The brokerage has a ‘buy’ call on the stock with the target at Rs 180 per share. It noted that the company’s growth remained muted with disbursements at half of the pre-COVID run-rate levels.

CLSA on SBI Life Insurance: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,385 per share. The brokerage said the company is “one of our preferred picks”, it expects the long-term VNB margin at 26 percent versus 24.5 percent.

Jefferies on DLF: The brokerage has a ‘buy’ call on the stock with the target at Rs 358 per share. According to the brokerage, its profits are above estimates and revenue decline was less than expected.

Morgan Stanley on Axis Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,000 per share. It noted that the lender’s core PPoP are broadly in line with estimates. The brokerage expects strong future earnings from the company due to lower credit cost and better PPoP.

Morgan Stanley on M&M Financial: The brokerage has a ‘buy’ call on the stock with the target at Rs 240 per share. It saw a large quarter-on-quarter increase in stage 2 and 3 loans of 13.3 ppts of loans.

UBS on DLF: The brokerage has a ‘buy’ call on the stock with the target at Rs 370 per share. It noted that the company’s development business did very well despite challenges in the annuity business.

UBS on Tata Motors: The brokerage has a ‘neutral’ call on the stock with the target at Rs 320 per share. The brokerage noted that while the company’s India business in line with estimates, JLR’s margins are weak.

Citi on Axis Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 925. The brokerage said the lender say higher retail slippage and a decline in NIM QoQ.

Citi on L&T: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,785. The brokerage has said the company has shown a solid margin performance and expectedly soft execution.

CLSA on Axis Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,050. The brokerage has said the lender’s first-quarter results on an absolute basis are in line. The brokerage expects the retail stress to normalise in the second half of the year, leading to an RoE of 15-15.5 by FY23.

Jefferies on L&T: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,900. The brokerage noted that the company’s first-quarter EBITDA is 12 percent below our expectations as E&C sales were missed by 12 percent. It added that the pandemic-induced delays, including fatalities and local lockdowns, impacted the execution.

Morgan Stanley on L&T: The brokerage has an ‘overweight’ call on the stock with the target at Rs 1,894. The brokerage noted the company’s core revenue is a tad weak, but the strong core margin despite the commodity inflation is a big plus.

July 26, 2021

Monday’s top brokerage calls: Reliance Industries, ICICI Bank, ITC, and more

Bernstein on ICICI Bank: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 790 per share. It noted that the company has a digital focus leading to granular loan growth. It added that the bank’s margin is at an all-time high aided by a low cost of funds.

Citi on ITC: The brokerage has a ‘neutral’ call on the stock with the target at Rs 210 per share. It noted that the company has delivered no surprises in operationally in the first quarter results.

CLSA on ICICI Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 940 per share. According to the brokerage, the lender is now consistently delivering sector-best growth in loans/core pre-provision operation profit.

CLSA on ITC: The brokerage has a ‘buy’ call on the stock with the target at Rs 265 per share. The brokerage sees a recovery in its overall business and margin profile as the economy normalises.

GS on Ambuja Cements: The brokerage has a ‘buy’ call on the stock with the target at Rs 423 per share, higher than the previous target of Rs 370. Goldman Sachs sees the valuation gap narrowing between Ambuja Cements and larger peers, going forward.

JPMorgan on Ambuja Cements: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 350 per share. The brokerage believes the company could announce more expansions over the next 12 months.

JPMorgan on Biocon: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 355 per share. It noted that the company has limited scope for meaningfully higher revenues from current launches.

JPMorgan on ICICI Bank: The brokerage has an ‘overweight’ rating on the stock with the target at Rs 675 per share. The brokerage firm believes the coming quarters should be better for the lender in terms of growth and asset quality.

JPMorgan on Reliance Industries: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 2,250 per share. The brokerage noted that the company’s O2C and E&P offset weak consumer business in another muted quarter. It further said that company’s earnings are unlikely to help the stock reverse its underperformance.

Macquarie on Reliance Industries: The brokerage has an ‘underperform’ rating on the stock with the target at Rs 1,350 per share. It noted that the company hasn’t sent updates on the new energy business, JioPhone+, O2C stake sale and the acquisition of JustDial.

Macquarie on United Spirits: The brokerage has an ‘underperform’ call on the stock with the target at Rs 480 per share. The brokerage firm sees risks to the company from input cost inflation. It added that the company is among “our least preferred names.”

Morgan Stanley on Biocon: The brokerage has an ‘equal-weight’ call on the stock with the target at Rs 371 per share. It noted that the company’s current portfolio of biosimilars is taking time to gain market share and new products are stalled in the regulatory process.

Morgan Stanley on ICICI Bank: The brokerage has an ‘overweight’ call on the stock with the target at Rs 900 per share. It noted that the lender remains its top pick in the banking sector. It further added that while slippages elevated above estimate, the net slippages are in line with estimates given strong recoveries.

Morgan Stanley on ITC: The brokerage has a ‘buy’ call on the stock with the target at Rs 251 per share. It noted that the company’s revenue and profits are ahead of estimates.

Morgan Stanley on Reliance Industries: The brokerage has an ‘overweight’ rating on the stock with the target at Rs 2,262 per share. It noted that the company’s earnings quality was good with energy in the driver’s seat.

Nomura on Ambuja Cements: The brokerage has a ‘reduce’ call on the stock with the target at Rs 360 per share. The brokerage firm downgraded the stock after recent outperformance.

Nomura on ICICI Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 790 per share. It said the leader has a strong core pre-provision operating profit but its asset quality has surprised negatively.

Nomura on JSW Steel: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 747 per share. It noted that the company has delivered strong results in the first quarter as raw material prices rose. Any further rise in steel price is an upside risk, it added.

July 23, 2021

Friday’s top brokerage calls: Hindustan Unilever, Bajaj Auto, UltraTech, and more

Citi on Bajaj Auto: The brokerage has a ‘sell’ call on the stock with the target at Rs 3,000 per share. The brokerage is concerned about the motorcycle product mix and domestic 3W demand.

Citi on HUL: The brokerage has a ‘buy’ call on the stock with the target at Rs 2,710 per share. It noted that the company is likely to be a beneficiary of the reopening.

CLSA on Havells: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 1,230 per share. The brokerage said that the structural prospect of the company was enhanced with infra and residential market recovery. It also upgraded the company’s valuation multiple from 50x to 55x.

CLSA on HUL: The brokerage has a ‘buy’ call on the stock with the target at Rs 2,850 per share. It noted that the company’s near-term margin may be stressed with inflation at a multi-year high.

CLSA on ICICI Lombard: The brokerage has an ‘outperform’ call on the stock with the target at Rs 1,600 per share. It said Q1 was marred by one-offs but it expects the situation to normalise by the second half of the fiscal year 2022.

CLSA on UltraTech: The brokerage has an ‘outperform’ call on the stock with the target at Rs 8,000 per share. According to the brokerage, the risk-reward ratio for the company is fair at its current valuation.

Goldman Sachs on HUL: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 2,182 per share. It noted that the company is below on lower pricing growth but demand is normalising now and it can benefit from the re-opening.

JPMorgan on UltraTech: The brokerage has a ‘neutral’ call on the stock with the target at Rs 6,890 per share. JPMorgan said that the cost pressures build up for the company despite it beating first-quarter result estimations.

Macquarie on Bajaj Auto: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 4,053 per share. It noted that the company’s margins were impacted by lower volumes and input cost inflation and that the near-term headwinds still persist.

Macquarie on UltraTech: The brokerage has an ‘outperform’ call on the stock with the target at Rs 8,542 per share. According to the brokerage, the company’s expansion projects are on track and it expects industry-leading growth over FY21-24.

Morgan Stanley on Bajaj Auto: The brokerage has an ‘overweight’ rating on the stock with the target at Rs 4,550 per share. According to the brokerage, the weaker product mix can be offset by the price increase during the quarter. It also said the company’s earnings were in line with the brokerage’s estimations.

Nomura on Bajaj Auto: The brokerage has a ‘buy’ call on the stock with the target at Rs 4,668 per share. It noted that though the company’s first-quarter results were slightly below estimates, it is focusing on the premium portfolio and has some margin catalysts in place to drive growth.

UBS on HUL: The brokerage has a ‘buy’ call on the stock with the target at Rs 2,850 per share. As per the brokerage, the improvement in mobility should aid HUL’s discretionary and out-of-home portfolio.

July 22, 2021

Thursday’s top brokerage calls: Asian Paints, ICICI Prudential, Bajaj Finance, and more

HSBC on Asian Paints: The brokerage has a ‘buy’ rating on the stock with the target at Rs 3,500 per share. It noted that the company’s revenue growth of 91 percent, led by a volume growth of 106 percent was ahead of expectations.

Citi on Bajaj Finance: The brokerage has a ‘buy’ rating on the stock with the target at Rs 6,950 per share. It noted that even though the company is under stress, there has been decent early traction of wallet.

Citi on ICICI Prudential: The brokerage has a ‘buy’ rating on the stock with the target at Rs 750 per share. It noted that the company’s favourable product mix is driving VNB margin expansion.

CLSA on Asian Paints: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 3,275 per share. It noted that the company’s focus on sustaining share gains in an inflationary setting eroded its gross margin. The company is optimistic on demand in FY22, with better monsoon, long Diwali, and pent-up demand, the brokerage said.

CLSA on ICICI Prudential: The brokerage has a ‘buy’ rating on the stock with the target at Rs 725 per share. It noted that the company’s first-quarter performance beat estimates notably with its VNB margin at 29.4 percent.

Goldman Sachs on Asian Paints: The brokerage has a ‘sell’ rating on the stock with the target at Rs 1,679 per share. It noted that the company’s margin contraction raises questions on its pricing power. While the second quarter is likely to benefit from the pent-up margin, the brokerage said it remains cautious.

Goldman Sachs on Bajaj Finance: The brokerage has a ‘sell’ rating on the stock with the target at Rs 4,479 per share. It noted that even though the company is focusing on business transformation, the competition is intense. In the near term, the company is facing another round of earnings downgrade, the brokerage said.

Goldman Sachs on ICICI Prudential: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 570 per share.

Goldman Sachs on Jubilant Food: The brokerage has a ‘sell’ rating on the stock with the target at Rs 1,293 per share. It noted that while the company’s system sales have almost recovered, investors should sell the stock given the headwinds to the earnings growth.

HSBC on Havells: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,215 per share. It noted that the company has delivered strong results in the first quarter with revenue and profit above the consensus expectation. The demand recovery in the sector continues to surprise positively, the brokerage firm said.

Morgan Stanley on ICICI Prudential: The brokerage has a ‘buy’ call on the stock with the target at Rs 700 per share. It noted that the company delivered a 20 percent VNB beat in a tough quarter. This pickup in VNB growth after recent sluggish growth should help rerate the stock, the brokerage said.

HSBC on Jubilant Food: The brokerage has a ‘buy’ call on the stock with the target at Rs 3,650 per share. It noted that the company’s first-quarter sales growth of 131 percent YoY, led by delivery was impressive in a disrupted quarter. With new formats and Domino’s’ growth, the company now appears a structural winner in the quick-service restaurant industry, the brokerage said.

Macquarie on Asian Paints: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 3,500 per share. It noted that the company’s first-quarter performance emphasised on the resilient nature of the decorative demand. But the brokerage is less worried about the Asian Paints’ near-term margin pressure.

Morgan Stanley on Asian Paints: The brokerage has an ‘equal-weight’ rating on the stock with the target at Rs 3,143 per share. It noted that the company’s topline is ahead of estimates but the margin is disappointing. “The uncertain direction of the margin leads us to move to the sidelines,” the brokerage said.

Morgan Stanley on Bajaj Finance: The brokerage has an ‘overweight’ rating on the stock with the target at Rs 6,850 per share. It said that the company has three Ps – profits, platform, and payments that excite investors in the new-age stocks. The brokerage said the stock looks fairly valued versus its base case.

Morgan Stanley on Jubilant Food: The brokerage has an ‘overweight’ rating on the stock with the target at Rs 3,236 per share. It noted that the company’s first-quarter earnings beat its consensus estimates and that the management is optimistic on the near-term outlook.

Nomura on Asian Paints: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 3,300 per share. It noted that the company’s products have a strong demand despite the second wave aided by share gains from unorganised and organised players. The brokerage said the company’s margins will remain compressed in the near term as pricing trails commodity inflation.

UBS on Asian Paints: The brokerage has a ‘buy’ call on the stock with the target at Rs 3,550 per share. It noted that even though the quarter was tough for the company, its outlook has improved.

UBS on ICICI Prudential: The brokerage has a ‘buy’ call on the stock with the target at Rs 690 per share. It noted that the company’s strong core business performance will overshadow its weak accounting profits.

Tuesday’s top brokerage calls: HCL Tech, ACC, HDFC Life, and more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Summary

Among brokerages, CLSA and Morgan Stanley are bullish on HCL Tech after its June quarter earnings, while UBS has a ‘sell’ call on it. Here’s a look at the top brokerage calls for today:

CS on ACC: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 2,450 per share. It noted that the company’s volumes and realisation estimates have increased and firing on all cylinders is a reflection of strength in the sector.

CLSA on ACC: The brokerage has a ‘buy’ call on the stock with the target at Rs 2,600 per share, upgraded from the previous target of Rs 2,190. It noted that the company has reported its best-ever EBITDA/t of Rs 1,279 and its EV/EBITDA is trading at a higher end of its historical discount to the sector. The brokerage has also raised its FY21-23 EBITDA estimate by 8-9 percent.

CLSA on HCL Tech: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,180 per share. The brokerage expects company’s momentum to come back strongly in second quarter and said that all the deals won in the first quarter were healthy with an all-time high pipeline.

Jeffries on HDFC Life: The brokerage has a ‘buy’ call on the stock with the target at Rs 800 per share, lower than its previous target of Rs 880. It noted that reserves with the life insurance company should be adequate to meet second wave claims. The brokerage also sees a 19 percent rise in its VNB CAGR over FY21-24.

MS on HCL Tech: The brokerage has an ‘equal-weight’ rating on the stock with the target at Rs 1,065 per share. It noted that the company’s results stood out. The brokerage expects the larger valuation discounts (versus peers) to persist going forward.

Nomura on HDFC Life: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 750 per share. It noted that the company remains a compounder but suggested investors wait for a better entry point. The brokerage noted that its recent underperformance is gradually closing valuation gaps versus its peers.

Nomura on Nippon AMC: The brokerage has a ‘neutral’ rating on the stock with the target at Rs 400 per share. It said that AMC’s quarter 1 results are largely in line with its expectations on both profit and core EBIT. Overall, mutual fund revenues are flat QoQ despite 5/2 percent growth in equity and debt assets.

UBS on HCL Tech: The brokerage has a ‘sell’ call on the stock with the target at Rs 855 per share. It noted that its first-quarter results are unlikely to please as its FY22 guidance remains unchanged.

UBS on ACC: The brokerage has a ‘sell’ call on the stock with the target at Rs 1,530 per share. The brokerage expects the company to lose capacity market share.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

today's market

Global Top Gainers Top Loosers nifty sensex

index	Price	Change
nifty 50	₹16,986.00	-72.15
sensex	₹1,882.60	+28.30
nifty IT	₹2,206.80	+30.85
nifty bank	₹1,318.95	-14.95

index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
nifty bank	₹1,318.95	-1.95

index	Price	Change
nifty 50	₹16,986.00	-72.15
sensex	₹1,882.60	+28.30
nifty IT	₹2,206.80	+30.85
nifty bank	₹1,318.95	-14.95

index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
nifty bank	₹1,318.95	-1.95

index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
nifty bank	₹1,318.95	-1.95

Currency

Company	Price	Chng	%Chng
Dollar-Rupee	73.3500	0.0000	0.00
Euro-Rupee	89.0980	0.0100	0.01
Pound-Rupee	103.6360	-0.0750	-0.07
Rupee-100 Yen	0.6734	-0.0003	-0.05

Quiz

Are you a Crypto Head? It’s time to prove it!

10 Questions · 5 Minutes

Start Quiz Now

Win WRX (WazirX token) worth Rs. 1500.

Question 1 of 5

What coins do you think will be valuable over next 3 years?

BTC

SOL

ETH

Wednesday’s top brokerage calls: IndusInd Bank, Dr Reddy’s, Canara Bank, and more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Summary

Daily Newsletter

Tags

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Next Article

LIVE TV

Shows

NSE Closing Bell

NSE Closing Bell

NSE Closing Bell

Most Reads

India's consumer price inflation breaks RBI's comfort level fourth mont...

India's consumer price inflation breaks RBI's comfort level fourth mont...

India's consumer price inflation breaks RBI's comfort level fourth mont...

today's market

Currency

Question 1 of 5

What coins do you think will be valuable over next 3 years?

Should Elon Musk be able to buy Twitter?

Tuesday’s top brokerage calls: HCL Tech, ACC, HDFC Life, and more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Summary

Daily Newsletter

Tags

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Next Article

LIVE TV

Shows

NSE Closing Bell

NSE Closing Bell

NSE Closing Bell

Most Reads

India's consumer price inflation breaks RBI's comfort level fourth mont...

India's consumer price inflation breaks RBI's comfort level fourth mont...

India's consumer price inflation breaks RBI's comfort level fourth mont...

today's market

Currency

Question 1 of 5

What coins do you think will be valuable over next 3 years?

Should Elon Musk be able to buy Twitter?