Tuesday's top brokerage calls: HCL Tech, ACC, HDFC Life, and more

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Among brokerages, CLSA and Morgan Stanley are bullish on HCL Tech after its June quarter earnings, while UBS has a 'sell' call on it. Here's a look at the top brokerage calls for today:

Tuesday's top brokerage calls: HCL Tech, ACC, HDFC Life, and more
CS on ACC: The brokerage has a 'neutral' rating on the stock with the target at Rs 2,450 per share. It noted that the company's volumes and realisation estimates have increased and firing on all cylinders is a reflection of strength in the sector.
CLSA on ACC: The brokerage has a 'buy' call on the stock with the target at Rs 2,600 per share, upgraded from the previous target of Rs 2,190. It noted that the company has reported its best-ever EBITDA/t of Rs 1,279 and its EV/EBITDA is trading at a higher end of its historical discount to the sector. The brokerage has also raised its FY21-23 EBITDA estimate by 8-9 percent.
CLSA on HCL Tech: The brokerage has a 'buy' call on the stock with the target at Rs 1,180 per share. The brokerage expects company's momentum to come back strongly in second quarter and said that all the deals won in the first quarter were healthy with an all-time high pipeline.
Jeffries on HDFC Life: The brokerage has a 'buy' call on the stock with the target at Rs 800 per share, lower than its previous target of Rs 880. It noted that reserves with the life insurance company should be adequate to meet second wave claims. The brokerage also sees a 19 percent rise in its VNB CAGR over FY21-24.
MS on HCL Tech: The brokerage has an 'equal-weight' rating on the stock with the target at Rs 1,065 per share. It noted that the company's results stood out. The brokerage expects the larger valuation discounts (versus peers) to persist going forward.
Nomura on HDFC Life: The brokerage has a 'neutral' rating on the stock with the target at Rs 750 per share. It noted that the company remains a compounder but suggested investors wait for a better entry point. The brokerage noted that its recent underperformance is gradually closing valuation gaps versus its peers.
Nomura on Nippon AMC: The brokerage has a 'neutral' rating on the stock with the target at Rs 400 per share. It said that AMC's quarter 1 results are largely in line with its expectations on both profit and core EBIT. Overall, mutual fund revenues are flat QoQ despite 5/2 percent growth in equity and debt assets.
UBS on HCL Tech: The brokerage has a 'sell' call on the stock with the target at Rs 855 per share. It noted that its first-quarter results are unlikely to please as its FY22 guidance remains unchanged.
UBS on ACC: The brokerage has a 'sell' call on the stock with the target at Rs 1,530 per share. The brokerage expects the company to lose capacity market share.

Market Movers

CompanyPriceChng%Chng
Hindalco413.45 13.40 3.35
SBI Life Insura1,102.20 25.55 2.37
Tata Steel1,324.50 26.55 2.05
Bajaj Finserv13,804.00 278.95 2.06
SBI429.20 5.90 1.39
CompanyPriceChng%Chng
Bajaj Finserv13,794.15 268.80 1.99
Tata Steel1,323.80 25.70 1.98
SBI429.20 5.90 1.39
Bajaj Finance6,244.35 82.20 1.33
Nestle18,220.65 143.10 0.79
CompanyPriceChng%Chng
Hindalco415.85 15.80 3.95
SBI Life Insura1,102.70 26.05 2.42
Tata Steel1,324.00 26.05 2.01
Bajaj Finserv13,790.00 264.95 1.96
SBI429.95 6.65 1.57
CompanyPriceChng%Chng
Tata Steel1,323.75 25.65 1.98
Bajaj Finserv13,768.55 243.20 1.80
SBI429.60 6.30 1.49
Bajaj Finance6,239.25 77.10 1.25
Nestle18,172.90 95.35 0.53

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.44250.02500.03
Euro-Rupee87.72200.02000.02
Pound-Rupee102.6560-0.0230-0.02
Rupee-100 Yen0.67610.00200.30