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Tuesday's top brokerage calls: Power Grid, Colgate, Balkrishna Industries and more

Updated : 2020-06-23 09:24:49

Among brokerage calls, CLSA upgraded Power Grid to 'buy' while Nomura maintained 'buy' on Balkrishna Industries. Here are the top brokerage calls for the day:

CLSA on Cement: The brokerage said that the demand remained surprising in May as it was down 5-15 percent YoY v/s expected 35-40 percent decline. Cement prices have softened since May but are up sequentially, said the brokerage. ACC and Ambuja Cements remain CLSA's top picks from the sector.
CLSA on Cement: The brokerage said that the demand remained surprising in May as it was down 5-15 percent YoY v/s expected 35-40 percent decline. Cement prices have softened since May but are up sequentially, said the brokerage. ACC and Ambuja Cements remain CLSA's top picks from the sector.
Credit Suisse expects steel prices to remain rangebound with limited downside risk. It prefers JSPL and Tata Steel from the sector.
Credit Suisse expects steel prices to remain rangebound with limited downside risk. It prefers JSPL and Tata Steel from the sector.
Nomura maintained 'buy' on Colgate with a target price at Rs 1,620, saying that elevated oral hygiene will drive consumer habit changes. The company is one of the most stable companies in this category, it added.
Nomura maintained 'buy' on Colgate with a target price at Rs 1,620, saying that elevated oral hygiene will drive consumer habit changes. The company is one of the most stable companies in this category, it added.
Nomura remained bullish on Balkrishna Industries with the target price at Rs 1,445. It said,
Nomura remained bullish on Balkrishna Industries with the target price at Rs 1,445. It said, "See flat volume in FY21 and 15 percent growth in FY22." The valuation is attractive due to healthy free cash flow yield and RoE, the report said.
Credit Suisse maintained 'outperform' on the stock with the target price cut to Rs 220 from Rs 250 earlier. It feels that the company's long-term outlook on business is positive.
Credit Suisse maintained 'outperform' on the stock with the target price cut to Rs 220 from Rs 250 earlier. It feels that the company's long-term outlook on business is positive.
CLSA also upgraded Power Grid to 'buy' with the target price increased to Rs 205 from Rs 190 earlier. The company is a defensive play and could grow earnings 19 percent over FY21-23, said the brokerage.
CLSA also upgraded Power Grid to 'buy' with the target price increased to Rs 205 from Rs 190 earlier. The company is a defensive play and could grow earnings 19 percent over FY21-23, said the brokerage.
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