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Top brokerage calls for June 12: Edelweiss initiates AU Small Finance Bank with 'buy'; Deutsche Bank cuts TP for Maruti

Updated : 2019-06-12 08:59:08

Indian benchmark indices are set for a flat start on Wednesday ahead important macro data due to be released later in the day. Asian shares were also cautious over concerns of US-China trade relations. On Tuesday, Indian shares ended higher led by gains in banking and metal stocks. The Sensex ended 166 points higher at 39,950, while the broader Nifty50 index added 43 points to end at 11,966. Among brokerages, Deutsche Bank has a 'hold' rating on the stock but cut its target price, while, Morgan Stanley remains bullish on Shriram Transport Finance. Edelweiss initiates coverage on AU Small Finance Bank with a 'buy' call and target at Rs 880 per share. Here are the other top brokerage calls for Wednesday:

<strong>Edelweiss on AU Small Finance Bank</strong>: The brokerage initiates coverage with a 'buy' rating and target at Rs 880 per share. 30 percent plus asset CAGR remains plausible for an extended period, it added.
Edelweiss on AU Small Finance Bank: The brokerage initiates coverage with a 'buy' rating and target at Rs 880 per share. 30 percent plus asset CAGR remains plausible for an extended period, it added.
<strong>Deutsche Bank on Maruti Suzuki</strong>: The brokerage has a 'hold' rating on the stock with target slashed to Rs 6,325 per share from Rs 6,450 earlier. Market share decline could trigger further de-rating and margin likely to remain under pressure, it added.
Deutsche Bank on Maruti Suzuki: The brokerage has a 'hold' rating on the stock with target slashed to Rs 6,325 per share from Rs 6,450 earlier. Market share decline could trigger further de-rating and margin likely to remain under pressure, it added.
<strong>Nomura on Tata Motors</strong>: The brokerage has a 'neutral' call on the stock with a target at Rs 187 per share. It expects 6 percent year-on-year growth in overall JLR volumes in FY20.
Nomura on Tata Motors: The brokerage has a 'neutral' call on the stock with a target at Rs 187 per share. It expects 6 percent year-on-year growth in overall JLR volumes in FY20.
<strong>Morgan Stanley on Shriram Transport Finance</strong>: The brokerage has an 'overweight' rating on Shriram Transport Finance with a target at Rs 1,350 per share. Management confident on asset quality as vehicle utilisation levels remain good and expects credit costs to move to 200 bps in FY20, it added.
Morgan Stanley on Shriram Transport Finance: The brokerage has an 'overweight' rating on Shriram Transport Finance with a target at Rs 1,350 per share. Management confident on asset quality as vehicle utilisation levels remain good and expects credit costs to move to 200 bps in FY20, it added.
<strong>Credit Suisse on Auto Sector:</strong> The brokerage retains positive stance on Motherson Sumi and Varroc Engineering. Motherson Sumi stands higher up in the pecking order given its stronger track record, Credit Suisse added.
Credit Suisse on Auto Sector: The brokerage retains positive stance on Motherson Sumi and Varroc Engineering. Motherson Sumi stands higher up in the pecking order given its stronger track record, Credit Suisse added.
<strong>Deutsche Bank on IndusInd Bank</strong>: The brokerage has a 'buy' rating on the stock with the target at Rs 1,900 per share. Uncertainties have reduced, and valuations are likely to improve, it added.
Deutsche Bank on IndusInd Bank: The brokerage has a 'buy' rating on the stock with the target at Rs 1,900 per share. Uncertainties have reduced, and valuations are likely to improve, it added.
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