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Top brokerage calls for June 13: Nomura downgrades cement companies; Morgan Stanley 'underweight' on Avenue Supermarts

Updated : June 13, 2019 08:37 AM IST

Indian shares are likely to open little changed amid mixed sentiment in global markets, with Asian shares trading lower and oil prices hovering at a five-month low. On Wednesday, domestic indices ended lower dragged by banking and auto stocks. Among brokerages, Nomura downgraded Ambuja Cements, Shree Cement and ACC to 'neutral' from 'buy'. The brokerage cut the TP for Ambuja Cements, while raised the 12-month target for Shree Cement and ACC. UBS also downgrades IndusInd Bank and retains 'sell' call on YES Bank. Morgan Stanley is 'underweight' on Avenus Supermart. Here are other top brokerage calls for Thursday:

<strong>Morgan Stanley on Avenue Supermarts</strong>: The brokerage has an 'underweight' call on the stock with a target at Rs 1,120 per share. It sees downside risks to estimates on price competition intensifying.
Morgan Stanley on Avenue Supermarts: The brokerage has an 'underweight' call on the stock with a target at Rs 1,120 per share. It sees downside risks to estimates on price competition intensifying.
<strong>HSBC on Avenue Supermarts</strong>: The brokerage retained a 'buy' call on the stock with a target at Rs 1,650. The company will continue its cluster-based expansion and maintain its pricing edge, the brokerage added.
HSBC on Avenue Supermarts: The brokerage retained a 'buy' call on the stock with a target at Rs 1,650. The company will continue its cluster-based expansion and maintain its pricing edge, the brokerage added.
<strong>Nomura on ACC:</strong> The brokerage downgraded the stock to 'neutral' from 'buy', but raised the cement stock's target to Rs 1,750 per share from Rs 1,700 earlier.
Nomura on ACC: The brokerage downgraded the stock to 'neutral' from 'buy', but raised the cement stock's target to Rs 1,750 per share from Rs 1,700 earlier.
<strong>Nomura on Shree Cement</strong>: The brokerage downgraded the stock to 'neutral' from 'buy', and increased its target price to Rs 21,500 per share from Rs 18,000 earlier.
Nomura on Shree Cement: The brokerage downgraded the stock to 'neutral' from 'buy', and increased its target price to Rs 21,500 per share from Rs 18,000 earlier.
<strong>Nomura on Ambuja Cements</strong>: The brokerage downgraded the stock to 'neutral' from 'buy' and cut the stock's target price to Rs 240 per share from Rs 295 earlier. The company may see the lowest volume/earnings growth among large-cap peers, the brokerage added.
Nomura on Ambuja Cements: The brokerage downgraded the stock to 'neutral' from 'buy' and cut the stock's target price to Rs 240 per share from Rs 295 earlier. The company may see the lowest volume/earnings growth among large-cap peers, the brokerage added.
<strong>UBS on Banks</strong>: UBS downgrades IndusInd Bank to sell and cut its target to Rs 1,400 from Rs 1,700 earlier. It maintains 'sell' rating on YES Bank and slashes its target to Rs 90 from Rs 170 per share earlier. It prefers Axis Bank and ICICI Bank.
UBS on Banks: UBS downgrades IndusInd Bank to sell and cut its target to Rs 1,400 from Rs 1,700 earlier. It maintains 'sell' rating on YES Bank and slashes its target to Rs 90 from Rs 170 per share earlier. It prefers Axis Bank and ICICI Bank.
<strong>Deutsche Bank on Insurance Companies:</strong> The brokerage expects SBI Life and HDFC Life to post strong growth, while it sees mixed growth for ICICI Prudential Life. Large private sector players are poised to benefit due to well-entrenched distribution, it added.
Deutsche Bank on Insurance Companies: The brokerage expects SBI Life and HDFC Life to post strong growth, while it sees mixed growth for ICICI Prudential Life. Large private sector players are poised to benefit due to well-entrenched distribution, it added.
<strong>Deutsche Bank on Cement Companies:</strong> According to Deutsche Bank, cement volume will likely decline by 2-3 percent. The brokerage expects industry margin in Q1 to rise 48 percent YoY and 35 percent QoQ to a decade-high level. ACC and UltraTech Cements are the brokerage's top picks in the sector.
Deutsche Bank on Cement Companies: According to Deutsche Bank, cement volume will likely decline by 2-3 percent. The brokerage expects industry margin in Q1 to rise 48 percent YoY and 35 percent QoQ to a decade-high level. ACC and UltraTech Cements are the brokerage's top picks in the sector.
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