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Top brokerage calls for December 4: CLSA maintains 'sell' on Lupin; Nomura raises target price for ICICI Bank

Updated : 2019-12-04 08:07:17

Indian markets are expected to open lower on Wednesday, following losses in global markets over uncertainties around US-China trade talks. At 7:43 am, the SGX Nifty was trading 44 points lower at 12,007, indicating a negative start for the Sensex and Nifty50. Among brokerages, CLSA is bearish on Lupin, while Nomura and Morgan Stanley are bullish on ICICI Bank. Here are the top brokerage calls for Wednesday:

<strong>CLSA on Lupin:</strong> The brokerage put a 'sell' rating on the stock and cut its target price to Rs 640 per share from Rs 650 earlier. The company's US revival hinges on select products, said the brokerage, adding that any slip on execution can pose a downside risk to earnings.
CLSA on Lupin: The brokerage put a 'sell' rating on the stock and cut its target price to Rs 640 per share from Rs 650 earlier. The company's US revival hinges on select products, said the brokerage, adding that any slip on execution can pose a downside risk to earnings.
<strong>Morgan Stanley on ICICI Bank:</strong> The brokerage was 'overweight' on the stock with a target at Rs 775 per share. It added that scope for meaningful re-rating over the next 12-18 months is high.
Morgan Stanley on ICICI Bank: The brokerage was 'overweight' on the stock with a target at Rs 775 per share. It added that scope for meaningful re-rating over the next 12-18 months is high.
<strong>Nomura on ICICI Bank:</strong> The brokerage maintained 'buy' call on the stock and raised its target to Rs 645 per share from Rs 610 earlier. The lender is building sustainable income avenues and it remains a top pick for Nomura in the sector, said the brokerage.
Nomura on ICICI Bank: The brokerage maintained 'buy' call on the stock and raised its target to Rs 645 per share from Rs 610 earlier. The lender is building sustainable income avenues and it remains a top pick for Nomura in the sector, said the brokerage.
<strong>Credit Suisse on autos:</strong> The brokerage was 'neutral' on TVS Motor Company, Maruti Suzuki, Eicher Motors, and Ashok Leyland. It was overweight' on M&M, Tata Motors, Hero MotoCorp, and Escorts and 'underweight' only on Bajaj Auto, among auto stocks.
Credit Suisse on autos: The brokerage was 'neutral' on TVS Motor Company, Maruti Suzuki, Eicher Motors, and Ashok Leyland. It was overweight' on M&M, Tata Motors, Hero MotoCorp, and Escorts and 'underweight' only on Bajaj Auto, among auto stocks.
<strong>Kotak Institutional Equities on MindTree</strong>: The brokerage maintained a 'reduce' call on the stock with a target at Rs 725 per share. It added that the company's client base has remained stable despite uncertainty.
Kotak Institutional Equities on MindTree: The brokerage maintained a 'reduce' call on the stock with a target at Rs 725 per share. It added that the company's client base has remained stable despite uncertainty.
<strong>Citi on L&T Infotech:</strong> The brokerage had a 'buy' rating on the stock with a target at Rs 1,855 per share. The brokerage expects a strong Q3 as the momentum of deal wins has continued to be decent.
Citi on L&T Infotech: The brokerage had a 'buy' rating on the stock with a target at Rs 1,855 per share. The brokerage expects a strong Q3 as the momentum of deal wins has continued to be decent.
<strong>Barclays on India PMI:</strong> Manufacturing PMI shows stabilisation in November, said Barclays. It added that consumer goods output improved, while capital goods production deteriorated. Barclays expects the Reserve Bank of India's monetary policy committee (MPC) to cut the repo rate by 25 basis points on Thursday.
Barclays on India PMI: Manufacturing PMI shows stabilisation in November, said Barclays. It added that consumer goods output improved, while capital goods production deteriorated. Barclays expects the Reserve Bank of India's monetary policy committee (MPC) to cut the repo rate by 25 basis points on Thursday.
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