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Top brokerage calls for July 4: Nomura cuts price target for Torrent Pharma, Maruti Suzuki; CLSA remains bullish on realty sector

Updated : 2019-07-04 08:55:36

Indian benchmark indices are set for a positive start on Wednesday ahead of the Union Budget tomorrow. US stocks closed at a record high in the previous session. Among brokerages, CLSA maintains 'buy' call on Jubilant Foodworks, while Morgan Stanley reduced Titan's rating. Nomura remained 'neutral' on Maruti Suzuki as it sees weaker industry demand and rising regulatory costs. Here are the top brokerage calls for the day:

1. <strong>Nomura on Torrent Pharma:</strong> The brokerage has maintained a 'buy' rating on the stock and has reduced the target price to Rs 1,907 from Rs 1,997 per share. The brokerage says that US disruptions impacted the earnings and that the key value driver is the domestic business.
1. Nomura on Torrent Pharma: The brokerage has maintained a 'buy' rating on the stock and has reduced the target price to Rs 1,907 from Rs 1,997 per share. The brokerage says that US disruptions impacted the earnings and that the key value driver is the domestic business.
2. <strong>CLSA on Realty</strong>: The research house said that the rate cuts and government support can lift the home buyer sentiment. CLSA's top picks are Godrej Properties, Sobha and Oberoi Realty.
2. CLSA on Realty: The research house said that the rate cuts and government support can lift the home buyer sentiment. CLSA's top picks are Godrej Properties, Sobha and Oberoi Realty.
3. <strong>Nomura on Maruti Suzuki:</strong> Nomura maintained 'neutral' rating on the stock and reduced its price target to Rs 6,717 from Rs 7,171 per share. It said that the weaker industry demand and rising regulatory costs is the reason behind the reduced price target.
3. Nomura on Maruti Suzuki: Nomura maintained 'neutral' rating on the stock and reduced its price target to Rs 6,717 from Rs 7,171 per share. It said that the weaker industry demand and rising regulatory costs is the reason behind the reduced price target.
4. <strong>Jefferies on Whirlpool:</strong> It has maintained 'hold' rating on the stock as it sees stretched valuations and average margin expansion.
4. Jefferies on Whirlpool: It has maintained 'hold' rating on the stock as it sees stretched valuations and average margin expansion.
5. <strong>Nomura on Cummins:</strong> The research house has downgraded the stock's rating to 'reduce' from 'neutral' as it sees FY20 as a weak year for the company.
5. Nomura on Cummins: The research house has downgraded the stock's rating to 'reduce' from 'neutral' as it sees FY20 as a weak year for the company.
6. <strong>Kotak Equities on Jubilant Foodworks</strong>: The brokerage maintained a 'buy' on the stock after being impressed with its products, new services in Hong Kong and price-value equation.
6. Kotak Equities on Jubilant Foodworks: The brokerage maintained a 'buy' on the stock after being impressed with its products, new services in Hong Kong and price-value equation.
7. <strong>Kotak Equities on ITC</strong>: It has maintained 'add' with a target price at Rs 335 per share as it sees improving fundamentals despite the narrative being weak.
7. Kotak Equities on ITC: It has maintained 'add' with a target price at Rs 335 per share as it sees improving fundamentals despite the narrative being weak.
8. <strong>Jefferies on Staples</strong>: The research house believes that negative operating leverage should limit the sector's margin expansion.
8. Jefferies on Staples: The research house believes that negative operating leverage should limit the sector's margin expansion.
9. <strong>Morgan Stanley on Titan</strong>: The brokerage has downgraded the stock's rating to 'equalweight' from 'overweight' as it believes there's less room for positive surprises in the coming quarters.
9. Morgan Stanley on Titan: The brokerage has downgraded the stock's rating to 'equalweight' from 'overweight' as it believes there's less room for positive surprises in the coming quarters.
10. <strong>Bank of America Merill Lynch on Dr Reddy's Laboratories:</strong> It has maintained a 'buy' on the stock as the company's recent US approvals have been decent.
10. Bank of America Merill Lynch on Dr Reddy's Laboratories: It has maintained a 'buy' on the stock as the company's recent US approvals have been decent.
11. <strong>Credit Suisse on NTPC</strong>: The research house has increased the target price to Rs 170 from Rs 158 per share earlier. It says that the company has multiple near-term catalysts.
11. Credit Suisse on NTPC: The research house has increased the target price to Rs 170 from Rs 158 per share earlier. It says that the company has multiple near-term catalysts.
12. <strong>CLSA on Jubilant Foodworks:</strong> It sees the competition to be picking up in the same food space. It said that brands like Mojo Pizza and Oven Story have crossed 100 outlets.
12. CLSA on Jubilant Foodworks: It sees the competition to be picking up in the same food space. It said that brands like Mojo Pizza and Oven Story have crossed 100 outlets.
13. <strong>CLSA on Axis Bank:</strong> The research house has increased the price target as it sees an earnings recovery in FY20 as credit costs normalise.
13. CLSA on Axis Bank: The research house has increased the price target as it sees an earnings recovery in FY20 as credit costs normalise.
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