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Top brokerage calls for December 2: Macquarie, Jefferies remain bearish on Yes Bank; BofAML bullish on Bharti Airtel

Updated : 2019-12-02 08:20:34

Yes Bank board on Friday increased its fundraising target to $2 billion and announced the names of the interested investors, including Hong Kong-based SPGP Holdings, which is backed by the Canadian family office of Erwin Singh Braich. Meanwhile, telecom operators, Reliance Jio, Bharti Airtel and Vodafone Idea announced tariff hikes. Here are the top brokerage calls for Monday:

<strong>Nomura on Yes Bank:</strong> The brokerage maintains 'neutral' rating on the stock with a target at Rs 63 per share. It also noted that fundamentally, a large capital raise would address the bank's ongoing concern.
Nomura on Yes Bank: The brokerage maintains 'neutral' rating on the stock with a target at Rs 63 per share. It also noted that fundamentally, a large capital raise would address the bank's ongoing concern.
<strong>Macquarie on Yes Bank:</strong> The brokerage has an 'underperform' rating on the stock with a target at Rs 50 per share. The brokerage has big reservations against the quality of investors. It was doubtful about the RBI's approval of investors wanting more than 10 percent for 85 percent of proposed capital.
Macquarie on Yes Bank: The brokerage has an 'underperform' rating on the stock with a target at Rs 50 per share. The brokerage has big reservations against the quality of investors. It was doubtful about the RBI's approval of investors wanting more than 10 percent for 85 percent of proposed capital.
<strong>Jefferies on Yes Bank:</strong> The brokerage has an 'underperform' rating on the stock with a target at Rs 38 per share. Of the total $1.8 billion proposed for investment, $1.7 billion is from two lesser-known off-shore investors, said the brokerage. It added that both off-shore investors don't seem to have very positive reputations.
Jefferies on Yes Bank: The brokerage has an 'underperform' rating on the stock with a target at Rs 38 per share. Of the total $1.8 billion proposed for investment, $1.7 billion is from two lesser-known off-shore investors, said the brokerage. It added that both off-shore investors don't seem to have very positive reputations.
<strong>HSBC on Tata Power:</strong> The brokerage maintains a 'hold' rating on the stock but cut its target to Rs 65 from Rs 75 per share. Upside risks include an increase in coal prices, Mundra resolution, and large defence orders, it added.
HSBC on Tata Power: The brokerage maintains a 'hold' rating on the stock but cut its target to Rs 65 from Rs 75 per share. Upside risks include an increase in coal prices, Mundra resolution, and large defence orders, it added.
<strong>Credit Suisse on Telecom</strong>: Bharti Airtel’s and Vodafone Idea’s price hike was in-line with estimates, said the brokerage. It is constructive on Bharti Airtel as the company is well-positioned to capitalise on pricing recovery. However, It remains 'neutral' on Vodafone Idea.
Credit Suisse on Telecom: Bharti Airtel’s and Vodafone Idea’s price hike was in-line with estimates, said the brokerage. It is constructive on Bharti Airtel as the company is well-positioned to capitalise on pricing recovery. However, It remains 'neutral' on Vodafone Idea.
<strong>BofAML on Telcos:</strong> The brokerage has a 'buy' rating on Bharti Airtel and Reliance Industries on tariff hike. It added that price hike by Vodafone Idea and Bharti Airtel was better than expectations. It also expects more tariff hikes to follow.
BofAML on Telcos: The brokerage has a 'buy' rating on Bharti Airtel and Reliance Industries on tariff hike. It added that price hike by Vodafone Idea and Bharti Airtel was better than expectations. It also expects more tariff hikes to follow.
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