CLSA on HDFC Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,850 per share. It noted that the lender had manageable asset quality for the June quarter but weak trends. NII growth of below 10 percent was also weak, it said.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 June quarter EPS came in 1 percent below its estimates and it further reduced EPS estimates by 2 percent.Goldman Sachs on HDFC Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,803 per share. It stated that higher than expected provisions led to PAT missing estimates in the June quarter.CLSA on HDFC AMC: The brokerage has an ‘outperform’ call on the stock with the target at Rs 3,150 per share. It stated that the firm’s earnings buoyancy is much lower than other capital market players.Morgan Stanley on L&T Info: The brokerage is ‘equal-weight’ on the stock with the target at Rs 4,250 per share. It noted that risk-reward is not as favourable for the stock as that of any other midcaps/largecaps.Macquarie on L&T Info: The brokerage has an ‘outperform’ call on the stock with the target at Rs 4,700 per share. It said that the strong pipeline and new client hunting position the company well for FY22.Goldman Sachs on L&T Info: The brokerage has a ‘sell’ call on the stock with the target at Rs 3,587 per share. It stated that the valuation is expensive at current levels.Citi on L&T Info: The brokerage has a ‘sell’ call on the stock with the target at Rs 3,870 per share. It said that the firm delivered an in-line quarter, adding that expectations and valuations are elevated.Goldman Sachs on L&T Fin Holdings: The brokerage has a ‘buy’ call on the stock with the target at Rs 128 per share. It expects the company to diversify towards higher return generating retail business over the long term.
Citi on Wipro: The brokerage has a ‘buy’ call on the stock and raised its target to Rs 655 per share from Rs 615 earlier. It said that Q1 revenue and guidance surprised while margin and attrition trends were weak.UBS on Wipro: The brokerage maintains a ‘neutral’ call on the stock with the target at Rs 470 per share. Recent run in the stock could cap near-term upsides for Wipro, said UBS.CLSA on Wipro: The brokerage has an ‘underperform’ call on the stock but raised target to Rs 560 per share from Rs 540 earlier. It said that constant currency revenue growth is well above Wipro’s guidance and estimates.Morgan Stanley on Wipro: The brokerage is ‘underweight’ on the stock but raised target to Rs 560 per share from Rs 520 earlier. Execution on revenue growth by Wipro has improved meaningfully, positive surprise drives higher EPS estimates, it stated.CLSA on Bandhan Bank: The brokerage has an ‘underperform’ call on the stock with the target at Rs 300 per share. It stated that overdues in West Bengal have been high in spite of negligible political interference.Morgan Stanley on Cyient: The brokerage is ‘equal-weight’ on the stock with the target at Rs 700 per share. Cyient’s performance appears lackluster relative to most industry peers, MS said, adding that, margin performance was good.
Credit Suisse on Infosys: The brokerage has an ‘outperform’ call on the stock with the target at Rs 1,890 per share. The IT major’s Q1 results were a mixed bag – strong revenue performance offset by a weaker margin. CS revised FY22 and FY23 EPS by 5 percent and -3 percent, respectively.CLSA on Infosys: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,900 per share. Infosys remains preferred play on growing digital spending and market share gains, CLSA said, adding that the IT major is also a part of its India Focus Buy List.Bernstein on Infosys: The brokerage maintains an ‘outperform’ call on the stock with the target at Rs 1,760 per share. It increased its FY23 constant currency revenue/EPS estimates for Infosys after the company’s Q1 results yesterday.Citi on Infosys: The brokerage maintains a ‘buy’ call on the stock with the target at Rs 1,785 per share. It tweaked EPS estimates marginally for FY22-24. It noted that the company reported a good Q1 with revenue beating estimates while EBIT and guidance raise being in line.Goldman Sachs on Infosys: The brokerage maintains a ‘buy’ call on the stock with the target at Rs 1,781 per share. It cut EPS estimates for Infosys by 2-3 percent but reiterated the ‘buy’ given best-in-class digital capability and seamless management execution.
JPMorgan on NMDC: The brokerage is ‘neutral’ on the stock with the target at Rs 210 per share. It said that the start of the firm’s steel plant demerger is positive as it limits liability to the firm from steel plant losses.Citi on NMDC: The brokerage is ‘neutral’ on the stock with the target at Rs 195 per share after the company’s board approved the demerger of the steel plant. It says demerger could help unlock value for the iron ore business.Goldman Sachs on Mindtree: The brokerage has a ‘buy’ call on the stock with the target at Rs 2,863 per share. It expects 20.5 percent constant currency revenue growth for the firm in FY22.Morgan Stanley on Mindtree: The brokerage is ‘overweight’ on the stock with the target at Rs 2,800 per share. It said that high multiples and limited EPS estimate upgrades limit absolute upside.Citi on Mindtree: The brokerage has a ‘sell’ call on the stock with the target at Rs 2,215 per share. It noted that valuations appear rich at current levels and that client concentration and risk to margins are key.Credit Suisse on Aurobindo Pharma: The brokerage maintains an ‘outperform’ call on the stock with the target at Rs 1,230 per share. High growth in FY24 reflects benefits of multiple growth drivers, said the brokerage.
CLSA on SunTeck Realty: The brokerage has a ‘buy’ call on the stock and raised the target to Rs 440 per share from Rs 425 earlier. Sunteck Realty’s collection efficiency continues to improve, CLSA increases pre-sales estimates by 12 percent and 9 percent for FY22 and FY23, respectively.CLSA on HDFC Bank: The brokerage has a ‘buy’ call on the stock with a target at Rs 1,825 per share. It added that the lender’s first annual report post-CEO-change starts with the acknowledgment of past issues.Credit Suisse on CPI Inflation: Food CPI can ease to 4.5 percent in July and the headline can fall to 5.3 percent, Credit Suisse says after CPI inflation for the month of June came in at 6.3 percent. However, it added that June inflation is 32 bps below consensus expectations.UBS on CPI Inflation: As per the brokerage, CPI inflation came in below consensus in June as price pressures ease. Headline CPI relatively stable at 6.3 percent in June vs the previous month, it added.Kotak on Axis Bank: The brokerage has a ‘buy’ call on the stock with a target at Rs 850 per share. Axis Bank’s RoE trajectory has greater room for improvement; the bank is well-positioned for a multiple expansion, Kotak Institutional Equities said.Macquarie on OMCs: The brokerage continues to expect a cyclical improvement in refining margins on OMCs. It added that HPCL has bottom-up capacity growth drivers and has a ‘buy’ call on the stock with a target at Rs 516 per share.Bernstein on Bajaj Finance: The brokerage has an ‘outperform’ call on the stock with a target at Rs 7,240 per share. Good execution on digital transformation by Bajaj Finance will support its premium fintech valuation, Bernstein stated.
Macquarie on TCS: The brokerage maintains an ‘outperform’ call on the stock with the target at Rs 3,640 per share. It added that the firm is well-positioned to benefit from a strong demand environment but has cut its FY22-23 EPS estimates by 1 percent.Goldman Sachs on TCS: The brokerage has a ‘buy’ call on the stock with the target at Rs 3,703 per share. It believes the company’s strong domain expertise will help maintain double-digit revenue growth over FY22-24.Citi on TCS: The brokerage has a ‘sell’ call on the stock with the target at Rs 3,080 per share. it finds TCS’ valuation high for an FY20-23 CAGR estimate of 7 percent.JPMorgan on TCS: The brokerage is ‘overweight’ on the stock with the target at Rs 3,680 per share. It noted that deal wins remain strong for the IT major and said that its exposure to India is higher than its peers.UBS on TCS: The brokerage is ‘neutral’ on the stock with the target at Rs 3,345 per share. It said that broader market concerns could keep the stock defensive.Morgan Stanley on Tata Motors: The brokerage is ‘equal-weight’ on the stock with the target at Rs 298 per share. It cut FY22 earnings by 31 percent reflecting the greater-than-expected impact of chip shortages.ICICI Direct on Sugar Companies: The brokerage raised the target price of sugar firms including Balrampur Chini, Dalmia Bharat, Avadh Sugars, Triveni Engineering.
Macquarie on IT: Infosys and L&T Infotech are Macquarie’s top picks in the IT space. It expects strong demand tailwinds for IT companies, aided by cloud and digital transformation.Jefferies on Adani Ports: The brokerage is ‘overweight’ on the stock with the target at Rs 910 per share. It said the company underperformed Nifty by 14 percent since questions were raised for FPI holdings in group companies. Such instances in the past have been buying opportunities, it said.Jefferies on GAIL: The brokerage maintained ‘hold’ on the stock with the target at Rs 150 per share. It said any significant correction in the crude prices remains a key risk to the company.Jefferies on Tata Motors: The brokerage maintains ‘buy’ rating on the stock with the target at Rs 435 per share. It said that the company is sanguine on demand and can deliver margin once the shortages ease.Morgan Stanley on JSPL: The brokerage is ‘equal-weight’ on the stock with the target at Rs 535 per share.Nomura on Tata Motors: The brokerage is ‘neutral’ on the stock with the target at Rs 353 per share. It said the production in the second half of FY22 will improve sequentially.
Morgan Stanley on Bajaj Finance: The brokerage is ‘overweight’ on the stock with the target at Rs 6,000 per share. It said that the AUM growth for the financial services company is better than its estimates.Morgan Stanley on Indigo: The brokerage is ‘overweight’ on the stock with the target at Rs 2,292 per share. It said the company’s position has improved significantly since the start of the pandemic.Morgan Stanley on ONGC: The brokerage is ‘underweight’ on the stock with the target at Rs 126 per share. It said that the company lacks volume growth and is slowly monetising its reserves.Morgan Stanley on Tata Motors: The brokerage maintains ‘equal-weight’ on the stock with the target at Rs 300 per share. It said that the impact of chip shortage at Jaguar Land Rover is much more than it had anticipated.Nomura on Tata Motors: The brokerage is ‘neutral’ on the stock with the target at Rs 353 per share. It said that the impact of chip shortage is much higher than expected and FCF/EBIT is expected to remain negative in the first half of FY22.CLSA on Tata Steel: The brokerage is ‘overweight’ on the stock with the target at Rs 1,450 per share. It said that the company reiterated its focus on capacity expansion in India.Morgan Stanley on Titan: The brokerage is ‘equal-weight’ on the stock with the target at Rs 1,358 per share. It said that the jewellery sales are up 37 percent as compared to the first wave.CLSA on Titan: The brokerage maintains ‘sell’ rating on the stock with the target at Rs 1,370 per share.Â
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.
Citi on Marico: The brokerage maintains a ‘buy’ call on the stock with the target at Rs 595 per share. It said that there were no material surprises from the Q1 trading update and that the revenue growth is likely to be healthy.Goldman Sachs on Marico: The brokerage has a ‘neutral’ call on the stock with the target at Rs 475 per share. It said that the company expects to deliver muted bottom-line growth in the quarter.Macquarie on Avenue Supermarts: The brokerage has an ‘outperform’ call on the stock with the target at Rs 3,700 per share. It upgraded FY23/24 EPS estimates for the firm by 4 percent/6 percent. It added that inflation should increase the attractiveness of value retailers like D-Mart.Morgan Stanley on Avenue Supermarts: The brokerage is ‘overweight’ on the stock with the target at Rs 3,218 per share. It noted that D-Mart was one of the best re-opening plays last year and the firm is now better positioned in the online delivery platform.CLSA on Tata Steel: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,462 per share. CLSA expects the margin for the firm to improve further from the decadal high of Q4. It added that the firm will benefit from the higher steel prices in India and strong spreads in Europe.CLSA on Telecom: The brokerage continues to have Bharti Airtel as preferred pick in telecom space with 4G penetration at 56 percent of its 321 million subscribers.
