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Top brokerage calls for September 5: Morgan Stanley 'overweight' on Lupin; Credit Suisse cuts target price of ITC

Updated : 2019-09-05 08:18:23

Indian shares are likely to open in green, tracking gains in Asian peers as apparent progress in the political crises in Britain and Hong Kong gave investors confidence. At 7.26 am, the SGX Nifty Futures traded 0.29 percent higher at 10,889, indicating a positive start for the Indian market. Here are the top brokerage calls for Thursday:

<strong>Credit Suisse on ITC:</strong> The brokerage has 'outperform' rating on the stock but cut its target to Rs 345 per share. The global slump in tobacco valuations and rising risk of tax hike form a major overhang, the brokerage said. It also noted that the company's foreign institutional investors (FII) holdings are dropping steadily, however, domestic mutual funds have significantly increased holding.
Credit Suisse on ITC: The brokerage has 'outperform' rating on the stock but cut its target to Rs 345 per share. The global slump in tobacco valuations and rising risk of tax hike form a major overhang, the brokerage said. It also noted that the company's foreign institutional investors (FII) holdings are dropping steadily, however, domestic mutual funds have significantly increased holding.
<strong>Morgan Stanley on Lupin:</strong> The brokerage has 'overweight' on the stock with a target at Rs 1,003 per share. The company announced an out-licensing deal with Boehringher Ingelheim (BI) for oncology drugs, but the brokerage estimates that it will take the company 6-7 years to commercialise these assets assuming successful clinical/regulatory developments.
Morgan Stanley on Lupin: The brokerage has 'overweight' on the stock with a target at Rs 1,003 per share. The company announced an out-licensing deal with Boehringher Ingelheim (BI) for oncology drugs, but the brokerage estimates that it will take the company 6-7 years to commercialise these assets assuming successful clinical/regulatory developments.
<strong>IDFC Securities on Natco Pharma:</strong> The brokerage has an 'outperform' rating on the stock with a target at Rs 860 per share. The company continues to pursue unconventional growth strategies, the brokerage said, adding that despite near-term earnings softness, the initiatives will add comfort.
IDFC Securities on Natco Pharma: The brokerage has an 'outperform' rating on the stock with a target at Rs 860 per share. The company continues to pursue unconventional growth strategies, the brokerage said, adding that despite near-term earnings softness, the initiatives will add comfort.
<strong>Kotak Institutional Equities on Infosys</strong>: The brokerage has an 'add' rating on the stock and raised its target to Rs 850 per share from Rs 775 earlier. The company is confident on growth and margin outlook on large deal ramp-up and improved provisioning in clients and verticals, it said.
Kotak Institutional Equities on Infosys: The brokerage has an 'add' rating on the stock and raised its target to Rs 850 per share from Rs 775 earlier. The company is confident on growth and margin outlook on large deal ramp-up and improved provisioning in clients and verticals, it said.
<strong>Credit Suisse on Financials:</strong> The Reserve Bank of India (RBI) has mandated retail/SME loans to be priced on external benchmarks and according to the brokerage ICICI Bank, Axis Bank and the State Bank of India will be the most impacted by this move, whereas HDFC Bank and IndusInd Bank with largely fixed consumer portfolio will be the least impacted by this move.
Credit Suisse on Financials: The Reserve Bank of India (RBI) has mandated retail/SME loans to be priced on external benchmarks and according to the brokerage ICICI Bank, Axis Bank and the State Bank of India will be the most impacted by this move, whereas HDFC Bank and IndusInd Bank with largely fixed consumer portfolio will be the least impacted by this move.
<strong>CLSA on Cadila Health:</strong> The brokerage has a 'buy' call on the stock with a target at Rs 285 per share. Investments in India, emerging markets and innovation to revive earnings from FY21, it added.
CLSA on Cadila Health: The brokerage has a 'buy' call on the stock with a target at Rs 285 per share. Investments in India, emerging markets and innovation to revive earnings from FY21, it added.
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