• SENSEX
    NIFTY 50
Market

CLSA bullish on ONGC and Sun Pharma, cuts target price of Bharat Forge

Updated : 2019-08-14 08:00:24

Indian shares are likely to open higher on Wednesday supported by a rally in global stock markets and after retail inflation data boosted chances of a rate cut. Asian shares advanced after the US delayed tariffs on some Chinese imports. At 7.10 AM, the SGX Nifty futures traded 38 points, or 0.35 percent, higher at 10,958.50, indicating a positive start for the Sensex and the Nifty. Here are the brokerage calls for today:

CLSA on remains bullish on <strong>Oil & Natural Gas Corporation</strong> at a price target of Rs 240 as the brokerage sees 85 percent upside in the stock. The research house believes that the stock should deliver 50 percent upside if Brent stays around levels of sub-US$45/barrel. Also, the stock is trading at a compelling 4.7x P/E and offers 8 percent dividend yield. Rising share of non-subsidy linked value from the KG block and Mozambique investment could make ONGC a doubler in three years. (Image: AP)
CLSA on remains bullish on Oil & Natural Gas Corporation at a price target of Rs 240 as the brokerage sees 85 percent upside in the stock. The research house believes that the stock should deliver 50 percent upside if Brent stays around levels of sub-US$45/barrel. Also, the stock is trading at a compelling 4.7x P/E and offers 8 percent dividend yield. Rising share of non-subsidy linked value from the KG block and Mozambique investment could make ONGC a doubler in three years. (Image: AP)
CLSA retains ‘buy’ on <strong>Sun Pharma </strong>but raised its target price to Rs 540 from Rs 520 saying that the pharma giant started FY20 on a strong note. The research house said that Ilumya is gaining traction but the Cequa launch has been delayed further. (Image: Reuters)
CLSA retains ‘buy’ on Sun Pharma but raised its target price to Rs 540 from Rs 520 saying that the pharma giant started FY20 on a strong note. The research house said that Ilumya is gaining traction but the Cequa launch has been delayed further. (Image: Reuters)
CLSA also remained bullish on <strong>Dr Lal</strong> <strong>Pathlabs</strong> and raised target price to Rs 1,330 from Rs 1,320. The brokerage believes that the results were largely in-line with the estimates. Volume growth remained strong and single point of focus, which is helping the company to expand in tier II-III towns. (Image: Company)
CLSA also remained bullish on Dr Lal Pathlabs and raised target price to Rs 1,330 from Rs 1,320. The brokerage believes that the results were largely in-line with the estimates. Volume growth remained strong and single point of focus, which is helping the company to expand in tier II-III towns. (Image: Company)
CLSA retained ‘outperform’ on <strong>Motherson</strong> <strong>Sumi</strong> <strong>Systems</strong> but lowered its target price to Rs 110 from Rs 135. The brokerage said that the weak auto demand and ramp-up issues at SMP’s recently-started US plant is taking a toll on the company’s operating performance. Motherson expects the US plant to ramp-up gradually in the coming quarters, it said. (Image: Reuters)
CLSA retained ‘outperform’ on Motherson Sumi Systems but lowered its target price to Rs 110 from Rs 135. The brokerage said that the weak auto demand and ramp-up issues at SMP’s recently-started US plant is taking a toll on the company’s operating performance. Motherson expects the US plant to ramp-up gradually in the coming quarters, it said. (Image: Reuters)
CLSA retained ‘sell’ on <strong>Bharat</strong> <strong>Forge</strong> and cut its target price to Rs 350 from Rs 390. The brokerage said that the first YoY earnings declined after eight quarters of double-digit growth. It further added that there is a high likelihood of a downturn in the company’s three key segments that form ~65 percent of its standalone revenues given the weakening in US and Indian truck sales. (Image: Company)
CLSA retained ‘sell’ on Bharat Forge and cut its target price to Rs 350 from Rs 390. The brokerage said that the first YoY earnings declined after eight quarters of double-digit growth. It further added that there is a high likelihood of a downturn in the company’s three key segments that form ~65 percent of its standalone revenues given the weakening in US and Indian truck sales. (Image: Company)
Live TV

Ask Our Experts CNBC TV18