CLSA on Kotak Mahindra Bank: The brokerage upgraded the stock to ‘outperform’ from ‘underperform’ and raised its target to Rs 1,900 from Rs 1,850 earlier. Incrementally, Kotak Mahindra Bank’s risk-reward is getting favourable, said CLSA.CLSA on Sterlite Tech: The brokerage has a ‘buy’ call on the stock with the target at Rs 340 per share. It said that the firm’s management detailed out acceleration strategy for digital networks post COVID-19.CLSA on Pharma: As per the brokerage, a resurgence in COVID cases will be a boost for pharma companies selling treatment-linked drugs in FY22 but could be transient and taper off in FY23.CLSA on Consumer Staples: The brokerage sees sharp gross margin pressure on consumer staples in Q1 as firms have passed on 30-50 percent of inflation. However, it said that the easing of supply-strained commodity prices in H1 will be an apt setting to further drive market share and gross margin.
Goldman Sachs on Vodafone Idea: The brokerage has a ‘sell’ call on the stock with the target at Rs 3 per share. Vi has large repayments due starting December 2021; co may have a Rs 23,400 cr cash shortfall until April 2022, it said.CLSA on Vodafone Idea: The brokerage has an ‘underperform’ call on the stock but raised the target to Rs 10 from Rs 9 earlier. It stated that the decline in subscribers is in-line and 4G additions are encouraging at 40 lakh.Jefferies on Tata Motors: The brokerage has a ‘buy’ call on the stock with the target at Rs 455 per share. Improved strategy and cyclical recovery should drive a big turnaround in Tata Motors, Jefferies said. Citi on NMDC: The brokerage has a ‘neutral’ call on the stock with the target at Rs 195 per share. NMDC expects iron ore prices to correct during the monsoon, Citi noted. It added that NMDC is trading at a premium to global peers.CLSA on Dish TV: The brokerage has a ‘buy’ call on the stock with the target at Rs 17 per share. It stated that the company has repaid Rs 1,000 crore debt in FY21. Its debt currently stands at Rs 800 crore, down 70 percent since FY19.
JPMorgan on Cement: As per the brokerage, cost inflation, sharply higher stock prices call for a breather in a strong demand cycle. It downgraded Shree Cement and UltraTech Cement but remains ‘overweight’ on ACC and Grasim.Kotak on Cummins: The brokerage maintains a ‘buy’ call on the stock with the target at Rs 1,030 per share. It added that the peers of the firm don’t have the margin to cede this time which would boost the company’s pricing power.Credit Suisse on HPCL: The brokerage is ‘neutral’ on the stock but raised the target to Rs 280 per share from Rs 242 earlier. It also increased FY22 EPS for HPCL by 26 percent to reflect a higher marketing margin.Jefferies on Graphite India: The brokerage has a ‘buy’ call on the stock with the target at Rs 875 per share. It is bullish after a strong Q4 performance; says decarbonisation is a structural tailwind.Antique on Karur Vysya Bank: Antique interacted with Karur Vysya Bank’s MD & CEO Ramesh Babu along with other senior management. As per the brokerage, the management endeavor is to improve RoA to 1 percent by FY23 and sustain it on an ongoing basis.
Credit Suisse on Marico: The brokerage raised the target price for the stock to Rs 600 per share from Rs 490 earlier. It would be among the most successful total addressable market (TAM) expansions in FMCG space in this decade if Marico achieves the FY24 revenue target for Saffola Foods, said the brokerage.Morgan Stanley on Technology: As per the brokerage, the new tech cycle provides medium-term growth visibility. It is ‘overweight’ on TCS and Infosys and ‘underweight’ on Wipro.Nomura on Autos: The brokerage expects a strong recovery in global automotive demand over 2021-22. It upgraded Motherson Sumi to ‘buy’ and is also positive on Bharat Forge, Apollo Tyres and Bajaj Auto.
CLSA on IGL: The brokerage upgraded the stock to ‘buy’ as it finds the PSU a good re-opening play with a rebound in mobility. It has a target of Rs 630 per share for the stock. It added that the recent underperformance to MGL, Gujarat Gas provides a good entry point.Nomura on IGL: The brokerage has a ‘buy’ call on the stock with a target at Rs 650 per share. While it sees upside risks to FY22-23 earnings, the brokerage expects city gas companies to pass the bulk of sharp domestic gas price hike in the second half of the FY22.Macquarie on IGL: The brokerage maintains an ‘outperform’ rating on the stock and raises the target to Rs 600. It also increased FY23 EPS by 6 percent on a better margin outlook.Citi on JSW Energy: The brokerage has a ‘buy’ call on the stock with a target at Rs 178 per share. It believes the firm is embarking on the next leg of growth through the creation of 2.5 GW of renewable capacity.CLSA on ONGC: The brokerage upgraded the stock to ‘buy’ with a target at Rs 165 per share. CLSA believes using a spot rate would take up the fair value to Rs 260 per share. The stock is pricing in Brent of only $51 per bbl.JPMorgan on Bharti Airtel: The brokerage is ‘overweight’ on the stock with a target at Rs 760 per share. It expects continued share gains supported by superior network quality to drive re-rating for Bharti Airtel.CLSA on Cement: The brokerage is positive on the Cement sector but sees limited room for re-rating with sector valuations above the 5-year median. It added that Dalmia Bharat and UltraTech Cement are its preferred picks.Goldman Sachs on Adani Ports: The brokerage maintains a ‘buy’ call on the stock with a target at Rs 760 per share. It expects growth to remain strong in the near to medium term.
Goldman Sachs on Info Edge: The brokerage maintains a ‘sell’ call on the stock with the target at Rs 2,760 per share. It, however, raised FY22-24 revenue estimates for the firm by up to 4 percent and said that outlook for recruitment business looks strong.Macquarie on Info Edge: The brokerage has an ‘underperform’ rating on the stock with the target at Rs 4,220 per share. It said that sequential improvement in core business continues.CLSA on Info Edge: The brokerage has an ‘outperform’ rating on the stock with the target at Rs 5,470 per share. It expects the company’s revenue growth to bounce back sharply by Q2.UBS on Bharti Airtel: The brokerage has a ‘buy’ call on the stock with the target at Rs 655 per share. The firm tied up with Tata Group for indigenous 5G solutions. As per UBS, the agreement is positive for the overall 5G ecosystem.
Morgan Stanley on Gujarat Gas: The brokerage is ‘overweight’ on the stock with the target at Rs 733 per share. It said that higher penetration should help margin.CLSA on PowerGrid: The brokerage has a ‘buy’ call on the stock with the target at Rs 275 per share. It said that valuation is inexpensive at current levels and raised FY22/23 EPS estimate by 5 percent.CLSA on Sun Pharma: The brokerage maintains a ‘buy’ call on the stock with the target at Rs 850 per share. It said that the company should maintain double-digit YoY India growth in FY21-24. It is bullish on India business and global specialty ramp-up.CLSA on Axis Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,025 per share. It expects Axis Bank’s RoE to rise by 15 percent by FY22/23; valuations are below the long-term average, the brokerage said.Credit Suisse on OMCs: As per the brokerage, it’s time to focus on post-divestment changes in the oil marketing sector. It prefers BPCL among OMCs.Credit Suisse on NBFCs: The brokerage cut FY22 estimate for NBFCs by 10-16 percent on higher provisions and lower loan growth. Shriram Transport is its top pick in the space while it is cautious on M&M Fin.
Jefferies on Tata Steel: The brokerage maintains a ‘buy’ call on the stock with a target at Rs 1,500 per share. It says the FY21 annual report shows a rising focus on sustainability and sets out specific targets for 2025 and 2030.CLSA on Tata Steel: The brokerage has a ‘buy’ call on the stock with a target at Rs 1,362 per share. It expects Europe to become self-sufficient in cashflows in the near term.CLSA on Lemon Tree: The brokerage has a ‘buy’ call on the stock with a target at Rs 50 per share. CLSA finds the company well-positioned due to its strong midmarket brand.CLSA on HCL Tech: The brokerage has a ‘buy’ call on the stock with a target at Rs 1,160 per share. It expects the company to sustain high growth over the next 2-3 years with an increased investment in digital engineering capabilities.Nomura on Glenmark: The brokerage has a ‘buy’ call on the stock with a target at Rs 762 per share. It finds the valuation of stock attractive at current levels and expects strong growth in FY22.Nomura on LIC Housing: The brokerage has a ‘buy’ call on the stock with a target at Rs 625 per share. It added that further re-rating is contingent on asset quality delivery for the firm.
Credit Suisse on Jubilant Food: The brokerage is ‘neutral’ on the stock with a target of Rs 2,900 per share. It said that margin upsides for Jubilant Food were unlikely hereon.UBS on Jubilant Food: The brokerage maintains a ‘neutral’ call on the stock with a target at Rs 3,000 per share. Growth drivers are in place for Jubilant Food, but execution will be the key, said the brokerage.CLSA on Jubilant Food: The brokerage maintains an ‘outperform’ rating on the stock with a target at Rs 3,300 per share. CLSA sees an earnings growth of 6-9 percent for Jubilant Food over FY22-23, and said the company is geared to leverage the market opportunity.Morgan Stanley on Jubilant Food: The brokerage maintains an ‘overweight’ call on the stock with a target at Rs 3,236 per share. It is constructive on the company’s medium-term scaling strategy.JPMorgan on Jubilant Food: The brokerage is ‘overweight’ on the stock and raised the target to Rs 3,425 per share from Rs 3,030 earlier. Positive growth supports premium multiples for Jubilant Food, said the brokerage.Macquarie on LIC Housing: The brokerage maintains an ‘outperform’ call on the stock with a target at Rs 600 per share. Capital raise is a welcome move for LIC Housing; growth seems to be making a comeback, said the brokerage.CLSA on LIC Housing: The brokerage maintains a ‘buy’ call on inexpensive valuation with a target at Rs 700 per share. LIC Housing’s asset quality a key negative surprise, CLSA said.
Jefferies on HDFC Bank: The brokerage has a ‘buy’ call on the stock with a target at Rs 1,860 per share. It expects a 19 percent profit CAGR over FY21-24 for the lender. The company said that it sees SME loans to be the fastest-growing segment over the next 3-5 years.CLSA on GAIL: The brokerage has a ‘buy’ call on the stock with a target at Rs 200 per share. It is confident that the company’s performance will improve in FY22 as the LNG price rises. It also raised FY22-23 EPS estimates by 2-3 percent.Credit Suisse on GAIL: The brokerage maintains a ‘neutral’ call on the stock with a target at Rs 165 per share. It raised FY22/23 EPS estimates by 13 percent/1 percent for the stock. It is neutral as GAIL is already reflecting the benefit of crude price hike.Macquarie on Asian Paints: The brokerage has an ‘outperform’ call on the stock with a target at Rs 3,200 per share. The firm announced a 6-8 percent price hike in its wood finishes segment. It also raises expectations of a price rise in the firm’s decorative portfolio, the brokerage said.Macquarie on Divi’s Labs: The brokerage has an ‘outperform’ call on the stock with a target at Rs 4,806 per share. It noted that commercialisation of Molnupiravir API could present a significant opportunity for the firm.
