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Top brokerage calls for November 20: Macquarie raises price target for ICICI Bank; Citi has 'sell' on Tata Steel

Updated : 2019-11-20 08:03:49

Indian shares are likely to open on a negative note, tracking Asian peers as conflicting messages from the US-China trade keeps investors on edge. Among brokerages, Macquarie raised price target for ICICI Bank, while Citi has a 'sell' call on Tata Steel. Here are the top brokerage calls for Wednesday:

 Macquarie on ICICI Bank:  The brokerage maintained 'outperform' rating on the stock but raised its target to Rs 615 per share from Rs 490 earlier. The brokerage added that the bank would not require any money for the next 18-24 months. ICICI Bank is Macquarie's top pick in the financial space. 
Macquarie on ICICI Bank: The brokerage maintained 'outperform' rating on the stock but raised its target to Rs 615 per share from Rs 490 earlier. The brokerage added that the bank would not require any money for the next 18-24 months. ICICI Bank is Macquarie's top pick in the financial space. 
 Citi on Tata Steel:  The brokerage put a 'sell' call on the stock with a target at Rs 330 per share. It added that the company's transformation plan should help alleviate some concerns around debt.
Citi on Tata Steel: The brokerage put a 'sell' call on the stock with a target at Rs 330 per share. It added that the company's transformation plan should help alleviate some concerns around debt.
 Nomura on Apollo Hospitals:  The brokerage maintained 'buy' call on the stock and raised its target to Rs 1,787 per share from Rs 1,693 earlier. It also noted that sustained turnaround in the company's earnings momentum will drive stock performance.
Nomura on Apollo Hospitals: The brokerage maintained 'buy' call on the stock and raised its target to Rs 1,787 per share from Rs 1,693 earlier. It also noted that sustained turnaround in the company's earnings momentum will drive stock performance.
 Credit Suisse on Reliance Industries:  The brokerage maintained 'neutral' outlook on the stock but raised its target price to Rs 1,400 from Rs 1,210 earlier. Reliance Jio's tariff increase could bring annual cash flow of over $1.5 billion, it added. (Disclaimer: Reliance Industries, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.)
Credit Suisse on Reliance Industries: The brokerage maintained 'neutral' outlook on the stock but raised its target price to Rs 1,400 from Rs 1,210 earlier. Reliance Jio's tariff increase could bring annual cash flow of over $1.5 billion, it added. (Disclaimer: Reliance Industries, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.)
 Credit Suisse on Sun Pharma:  The brokerage maintained 'neutral' rating on the stock with a target at Rs 450 per share. Taro Pharmaceuticals' buyback is a penultimate step to taking the company private, said the brokerage. It also noted that the move would help make Taro's cash fungible.
Credit Suisse on Sun Pharma: The brokerage maintained 'neutral' rating on the stock with a target at Rs 450 per share. Taro Pharmaceuticals' buyback is a penultimate step to taking the company private, said the brokerage. It also noted that the move would help make Taro's cash fungible.
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