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Top brokerage calls for June 25: Citi Research cuts price target for Emami, CLSA bearish on steel stocks

Updated : 2019-06-25 09:20:39

Indian benchmark indices are likely to open flat on Tuesday, in line with global markets as investors await US-China trade talks at the G20 meeting later this week. On Monday, the benchmark indices ended lower due to heavy selling in auto and metal stocks. Among brokerages, Citi Research maintained a 'buy' call on Emami with a cut in target price, while CLSA remained bearish on steel companies. Meanwhile, Jefferies believes that the longer term outlook for equities will be challenging. Here are the other top brokerage calls for Tuesday:

<strong>Citi Research on Emami</strong>: The brokerage maintained a 'buy' call on the stock but declined its target price to Rs 340 per share from Rs 435 per share. It said that the promoter stake sale was done to avoid any invocation by lenders.
Citi Research on Emami: The brokerage maintained a 'buy' call on the stock but declined its target price to Rs 340 per share from Rs 435 per share. It said that the promoter stake sale was done to avoid any invocation by lenders.
<strong>CLSA on Realty Sector</strong>: The brokerage said that the interest rate cuts and government's support can lift home buyer sentiment. It placed its bets on Godrej Properties, Sobha and Oberoi Realty.
CLSA on Realty Sector: The brokerage said that the interest rate cuts and government's support can lift home buyer sentiment. It placed its bets on Godrej Properties, Sobha and Oberoi Realty.
<strong>CLSA on Steel Companies</strong>: The brokerage expects ore prices to peak in Q3CY19 and then ease materially over Q4CY19 and Q1CY20.
CLSA on Steel Companies: The brokerage expects ore prices to peak in Q3CY19 and then ease materially over Q4CY19 and Q1CY20.
<strong>Goldman Sachs on Metal Companies</strong>: The brokerage house said that the higher input costs will lead to softer spreads. It maintained 'buy' and 'neutral' calls on Tata Steel and JSW Steel respectively.
Goldman Sachs on Metal Companies: The brokerage house said that the higher input costs will lead to softer spreads. It maintained 'buy' and 'neutral' calls on Tata Steel and JSW Steel respectively.
<strong>Morgan Stanley on Telecom Companies:</strong> It said that Airtel and Vodafone Idea saw weak trends of subscriber additions.
Morgan Stanley on Telecom Companies: It said that Airtel and Vodafone Idea saw weak trends of subscriber additions.
<strong>Jefferies on Market Strategy:</strong> The research house doesn't see any extended enthusiasm towards the markets. It said that the global market growth continues to slow down but quality stocks have made a good comeback.
Jefferies on Market Strategy: The research house doesn't see any extended enthusiasm towards the markets. It said that the global market growth continues to slow down but quality stocks have made a good comeback.
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