Tuesday’s top brokerage calls: AU Small Finance Bank, Biocon and more
Morgan Stanley on AU Small Finance Bank: The brokerage is ‘overweight’ on the stock with the target at Rs 1,150 per share. It said that the AUM growth for the lender is stable on a YoY basis and down 3 percent QoQ.CLSA on Biocon: The brokerage has a ‘sell’ call on the stock with the target at Rs 260 per share. As per CLSA, cash flow remained negative for the stock for the eighth consecutive year in FY21.CLSA on Godrej Consumer: The brokerage maintains an ‘outperform’ call on the stock with the target at Rs 950 per share. It noted that high-teen growth in India and strategic actions in Africa are fructifying well.Morgan Stanley on HDFC Bank: The brokerage is ‘overweight’ on the stock with the target at Rs 2,000 per share. It stated that the lender’s Q1 update implies continued market share gains.CLSA Equity Strategy: The brokerage added ONGC and removed Bharti Airtel from its India focus portfolio. It added that the investor sentiment is elevated but lower than that in the January 2021 peak.
