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Thursday's top brokerage calls: ICICI Bank, Zee and more

Updated : 2020-07-09 09:09:55

Among brokerages, Jefferies is bullish on ICICI Bank after its capital raise announcement while CLSA cut the target price for Zee but maintained a 'buy' call. Here are the top brokerage calls for the day:

 Jefferies on ICICI Bank:  The brokerage maintained a 'buy' call on the stock after it announced an enabling resolution for a capital raise of Rs 15,000 crore. It expects capital raise to potentially drive EPS dilution of 6 percent.
Jefferies on ICICI Bank: The brokerage maintained a 'buy' call on the stock after it announced an enabling resolution for a capital raise of Rs 15,000 crore. It expects capital raise to potentially drive EPS dilution of 6 percent.
 CLSA on ICICI Bank : The brokerage maintained 'buy' on the stock with a target at Rs 480 per share. It said that a higher CET-1 threshold would be a key motivation for capital raise and capital accretion from subsidiary share will suffice the COVID-19 provisioning.
CLSA on ICICI Bank: The brokerage maintained 'buy' on the stock with a target at Rs 480 per share. It said that a higher CET-1 threshold would be a key motivation for capital raise and capital accretion from subsidiary share will suffice the COVID-19 provisioning.
 CLSA on Zee:  The brokerage reiterated 'buy' call on the stock but cut its target to Rs 225 from Rs 275 earlier. It added that the firm is regaining viewership and ad recovery is slow but business is resilient.
CLSA on Zee: The brokerage reiterated 'buy' call on the stock but cut its target to Rs 225 from Rs 275 earlier. It added that the firm is regaining viewership and ad recovery is slow but business is resilient.
 Jefferies in Financials:  As per the brokerage, Indian financials' $13 billion capital raising pipeline is defensive & offensive. The pipeline is defensive as it’s stemming from uncertainty & high moratoriums & it’s offensive on the potential for inorganic/buyout-led growth if stability emerges in Q3.
Jefferies in Financials: As per the brokerage, Indian financials' $13 billion capital raising pipeline is defensive & offensive. The pipeline is defensive as it’s stemming from uncertainty & high moratoriums & it’s offensive on the potential for inorganic/buyout-led growth if stability emerges in Q3.
 CLSA on Financials:  As per the brokerage, there is material room for valuations to catch up for ICICI Bank and Axis Bank. Outlook for banks over the next 12 months is challenging, it added.
CLSA on Financials: As per the brokerage, there is material room for valuations to catch up for ICICI Bank and Axis Bank. Outlook for banks over the next 12 months is challenging, it added.
 CLSA on IT Services:  Deal activity fell 16 percent YoY in Q2 but gradual recovery is likely over H2, said the brokerage. But it expects a slow recovery in H2 as large deals remain off the table.
CLSA on IT Services: Deal activity fell 16 percent YoY in Q2 but gradual recovery is likely over H2, said the brokerage. But it expects a slow recovery in H2 as large deals remain off the table.
 CLSA India Strategy:  Q1 is expected to be Indian businesses’ worst quarter on record, said the brokerage. It added that all sectors are set to report a YoY PBT drop but export sectors such as IT & Pharma should fall the least.
CLSA India Strategy: Q1 is expected to be Indian businesses’ worst quarter on record, said the brokerage. It added that all sectors are set to report a YoY PBT drop but export sectors such as IT & Pharma should fall the least.
 CLSA on Autos:  As per the brokerage, 2-wheelers are better prepared for low growth. Mass-market 2-wheeler OEMs have shown better cost controls than Maruti, it added. It expects valuation premiums of Eicher and TVS to contract.
CLSA on Autos: As per the brokerage, 2-wheelers are better prepared for low growth. Mass-market 2-wheeler OEMs have shown better cost controls than Maruti, it added. It expects valuation premiums of Eicher and TVS to contract.
 CLSA on Biocon:  The brokerage has a 'sell' call on the stock with a target at Rs 240 per share. It said that this is the seventh consecutive year of negative FCF and high capex intensity for the firm. Market share gains will only be gradual, posing a downside risk to estimates, it added.
CLSA on Biocon: The brokerage has a 'sell' call on the stock with a target at Rs 240 per share. It said that this is the seventh consecutive year of negative FCF and high capex intensity for the firm. Market share gains will only be gradual, posing a downside risk to estimates, it added.
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