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Top brokerage calls for November 19: Jefferies upgrades Bharti Airtel to 'hold'; Citi has 'sell' on Ashok Leyland, TVS Motor

Updated : 2019-11-19 08:09:33

Indian equities are likely to open lower on Tuesday, tracking losses in global markets amid concerns of the economic slowdown after US-China trade deal uncertainties crept back in. Among brokerages, Jefferies upgraded Bharti Airtel and downgraded Bharti Infratel, while Citi has 'sell' calls on Ashok Leyland and TVS Motor. Here are the top brokerage calls for Tuesday:

 Jefferies on Telecom companies:  The brokerage upgraded Bharti Airtel to 'hold' from 'underperform' and raised its target price to Rs 407 per share, while it downgraded Bharti Infratel to 'underperform' from 'hold' and slashed its target price to Rs 180 per share. Further, it maintained 'hold' on Vodafone Idea but cut its target price to Rs 2.4 per share.
Jefferies on Telecom companies: The brokerage upgraded Bharti Airtel to 'hold' from 'underperform' and raised its target price to Rs 407 per share, while it downgraded Bharti Infratel to 'underperform' from 'hold' and slashed its target price to Rs 180 per share. Further, it maintained 'hold' on Vodafone Idea but cut its target price to Rs 2.4 per share.
 Citi on Autos:  Q2 results were above expectations but outlook remained cautious, the brokerage said. Top buys for the brokerage are Maruti Suzuki and Hero MotoCorp, and top sells are Ashok Leyland and TVS Motor.
Citi on Autos: Q2 results were above expectations but outlook remained cautious, the brokerage said. Top buys for the brokerage are Maruti Suzuki and Hero MotoCorp, and top sells are Ashok Leyland and TVS Motor.
 Morgan Stanley on IT Companies:  The brokerage was 'overweight' on Tech Mahindra, L&T Infotech, Mphasis, Cyient, and JustDial. It was 'equal-weight' on TCS, Infosys, and Hexaware and 'underweight' on Wipro, HCL Tech and MindTree.
Morgan Stanley on IT Companies: The brokerage was 'overweight' on Tech Mahindra, L&T Infotech, Mphasis, Cyient, and JustDial. It was 'equal-weight' on TCS, Infosys, and Hexaware and 'underweight' on Wipro, HCL Tech and MindTree.
 Credit Suisse on ITC:  The brokerage maintained 'outperform' rating on the stock with a target at Rs 330 per share. The company has derated versus other FMCG stocks despite improving operations, the brokerage said, adding that it now trades at 65 percent discount to HUL, its lowest in 15 years.
Credit Suisse on ITC: The brokerage maintained 'outperform' rating on the stock with a target at Rs 330 per share. The company has derated versus other FMCG stocks despite improving operations, the brokerage said, adding that it now trades at 65 percent discount to HUL, its lowest in 15 years.
 Morgan Stanley on Future Retail:  The brokerage has an 'overweight' rating on the stock but cut its target to Rs 540 per share from Rs 660 earlier. Q2 earnings were in-line, but a sharp rise in debt was a key negative, the brokerage noted. It also lowered its FY20 earnings estimate by 8.5 percent.
Morgan Stanley on Future Retail: The brokerage has an 'overweight' rating on the stock but cut its target to Rs 540 per share from Rs 660 earlier. Q2 earnings were in-line, but a sharp rise in debt was a key negative, the brokerage noted. It also lowered its FY20 earnings estimate by 8.5 percent.
 Nomura on logistics:  Despite a decline in port container volumes, rail containers were still on a growth trajectory, said the brokerage. ConCor was the brokerage's top pick in the logistics space. It put a 'buy' call on ConCor and Gujarat Pipavav and was 'neutral' on Adani Ports.
Nomura on logistics: Despite a decline in port container volumes, rail containers were still on a growth trajectory, said the brokerage. ConCor was the brokerage's top pick in the logistics space. It put a 'buy' call on ConCor and Gujarat Pipavav and was 'neutral' on Adani Ports.
 HSBC on Castrol India:  The brokerage maintained a 'buy' call on the stock and raised its target to Rs 165 from Rs 145 earlier. Volumes were down sharply in a seasonally weak quarter, said the brokerage, adding that margins were still growing on strong realisations and good cost control.
HSBC on Castrol India: The brokerage maintained a 'buy' call on the stock and raised its target to Rs 165 from Rs 145 earlier. Volumes were down sharply in a seasonally weak quarter, said the brokerage, adding that margins were still growing on strong realisations and good cost control.
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