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Top brokerage calls for June 19: Citi upgrades Tata Power to 'buy', remains negative on IndiGo

Updated : 2019-06-19 07:58:46

Indian benchmark indices are likely to open higher on Wednesday, in line with Asian stocks, amid hopes of US-China deal. Sentiment also remained positive ahead of the US Federal Reserve rate decision due later today. On Tuesday, the BSE Sensex gained 85.55 points to end at 39,046.34 while the Nifty50 rose 19.30 points to end at 11,691.50. Among brokerages, Citi upgraded Tata Power, while CLSA maintained a 'sell' call on Bharat Forge. Citi was negative on IndiGo, while Nomura was bullish on SBI. Here are the top brokerage calls for Wednesday:

<strong>Citi on Tata Power:</strong> The brokerage upgraded the stock to 'buy' from 'neutral' with a target at Rs 76 per share. Non-core asset divestment-led deleveraging could lift numbers, it added.
Citi on Tata Power: The brokerage upgraded the stock to 'buy' from 'neutral' with a target at Rs 76 per share. Non-core asset divestment-led deleveraging could lift numbers, it added.
<strong>Citi on IndiGo:</strong> The brokerage gave a 'sell' rating on the stock with a target price of Rs 1,300 per share. Competition for the airline is increasing from SpiceJet, the brokerage added.
Citi on IndiGo: The brokerage gave a 'sell' rating on the stock with a target price of Rs 1,300 per share. Competition for the airline is increasing from SpiceJet, the brokerage added.
<strong>Nomura on SBI</strong>: The brokerage maintained a 'buy' call on the stock, and suggested preferring it over ICICI Bank and Axis Bank.
Nomura on SBI: The brokerage maintained a 'buy' call on the stock, and suggested preferring it over ICICI Bank and Axis Bank.
<strong>CLSA on IT Sector:</strong> The brokerage believes HCL, TCS and Infosys are best positioned to exploit digital transformation adoption. Digital now drives over 10 percent growth for each leading Indian technology company.
CLSA on IT Sector: The brokerage believes HCL, TCS and Infosys are best positioned to exploit digital transformation adoption. Digital now drives over 10 percent growth for each leading Indian technology company.
<strong>CLSA on Bharat Forge:</strong> The brokerage maintained a 'sell' call on the stock and slashed its target price to Rs 390 per share from Rs 420 earlier. It sees a flattish trajectory in FY20-21 at best for topline growth and profit.
CLSA on Bharat Forge: The brokerage maintained a 'sell' call on the stock and slashed its target price to Rs 390 per share from Rs 420 earlier. It sees a flattish trajectory in FY20-21 at best for topline growth and profit.
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