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These are Monday's biggest brokerage calls: Reliance Industries, TCS, HDFC Bank and more

Updated : 2020-01-20 09:07:14

Indian shares are set for a positive start on Monday, tracking positive global cues and amid Q3FY20 corporate earnings. Reliance Industries, Tata Consultancy Services, HDFC Bank and HCL Technologies are in focus after Q3 results. Here are the top brokerage calls for Friday:

Morgan Stanley on Reliance Industries: The global brokerage has maintained 'Overweight' stance on Reliance Industries, with a target price of Rs 1,753 per share after 6 percent earnings growth which was above its estimate. (Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
Morgan Stanley on Reliance Industries: The global brokerage has maintained 'Overweight' stance on Reliance Industries, with a target price of Rs 1,753 per share after 6 percent earnings growth which was above its estimate. (Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
Citi on Tata Consultancy Services (TCS): The brokerage maintained a 'sell' rating on the Tata Group IT company, with a target price of Rs 1,975 per share owing to growth being challenged in BFSI/Retail while expectations remain elevated.
Citi on Tata Consultancy Services (TCS): The brokerage maintained a 'sell' rating on the Tata Group IT company, with a target price of Rs 1,975 per share owing to growth being challenged in BFSI/Retail while expectations remain elevated.
CLSA on Reliance Industries: The brokerage gave a 'buy' call and a target price of Rs 2,010 as the oil-to-telecom-to-retail conglomerate showed the first positive free cash flow in over six years. While Jio's EBITDA missed by 3 percent, the retail segment had another stellar quarter.
CLSA on Reliance Industries: The brokerage gave a 'buy' call and a target price of Rs 2,010 as the oil-to-telecom-to-retail conglomerate showed the first positive free cash flow in over six years. While Jio's EBITDA missed by 3 percent, the retail segment had another stellar quarter.
Credit Suisse on HCL Technologies: With an 'outperform' rating at a target price of Rs 700, the brokerage is upbeat on HCL Tech as the IT company could become the fastest organically growing large cap company in FY20. It also raised earnings per share estimate by 2-3 percent, it said.
Credit Suisse on HCL Technologies: With an 'outperform' rating at a target price of Rs 700, the brokerage is upbeat on HCL Tech as the IT company could become the fastest organically growing large cap company in FY20. It also raised earnings per share estimate by 2-3 percent, it said.
Credit Suisse on Reliance Industries: The brokerage maintained a 'neutral' stance at a target price of Rs 1,400 per share due to lower than expected result on ARPU, subscribers and margin.
Credit Suisse on Reliance Industries: The brokerage maintained a 'neutral' stance at a target price of Rs 1,400 per share due to lower than expected result on ARPU, subscribers and margin.
HSBC on TCS: The brokerage maintained 'hold' rating at a target price of Rs 1,950 per share as the IT major continued to report soft revenue growth although margins remain healthy.
HSBC on TCS: The brokerage maintained 'hold' rating at a target price of Rs 1,950 per share as the IT major continued to report soft revenue growth although margins remain healthy.
Credit Suisse on TCS: The brokerage maintained 'neutral' stance at a target price of Rs 1,950 per share on TCS after a third successive revenue miss amid a moderate growth in BFSI and Retail as well as steep valuations.
Credit Suisse on TCS: The brokerage maintained 'neutral' stance at a target price of Rs 1,950 per share on TCS after a third successive revenue miss amid a moderate growth in BFSI and Retail as well as steep valuations.
Jefferies on TCS: The brokerage maintained 'buy' at a higher target price of Rs 2,500 per share as it expects the IT company to outperform top tier peers on both growth and margins.
Jefferies on TCS: The brokerage maintained 'buy' at a higher target price of Rs 2,500 per share as it expects the IT company to outperform top tier peers on both growth and margins.
Kotak Institutional Equities on HDFC Bank: It maintained 'add' rating at a target price of Rs 1,350 per share as the lender reported 33 percent YoY earnings growth led by 20 percent YoY operating profit growth.
Kotak Institutional Equities on HDFC Bank: It maintained 'add' rating at a target price of Rs 1,350 per share as the lender reported 33 percent YoY earnings growth led by 20 percent YoY operating profit growth.
Morgan Stanley on HCL Tech: The global brokerage maintained 'underweight' stance at a target price of Rs 580. A key highlight of Q3 results was the margin improvement driven by better productivity.
Morgan Stanley on HCL Tech: The global brokerage maintained 'underweight' stance at a target price of Rs 580. A key highlight of Q3 results was the margin improvement driven by better productivity.
Credit Suisse on HDFC Bank: The brokerage maintained 'outperform' rating at a higher target price of Rs 1,550 from the previous Rs 1,400 per share as the bank should continue to allow for market share gains.
Credit Suisse on HDFC Bank: The brokerage maintained 'outperform' rating at a higher target price of Rs 1,550 from the previous Rs 1,400 per share as the bank should continue to allow for market share gains.
Morgan Stanley on JSPL: It maintained 'overweight' stance with a target price of Rs 174 per share as the steel company's EBITDA above the brokerage firm's estimate and consensus. JSPL's focus on deleveraging continues to drive net debt down QoQ.
Morgan Stanley on JSPL: It maintained 'overweight' stance with a target price of Rs 174 per share as the steel company's EBITDA above the brokerage firm's estimate and consensus. JSPL's focus on deleveraging continues to drive net debt down QoQ.
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