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    Top brokerage calls for April 16: Macquarie 'neutral' on Dr Reddy's Labs, RIL

    Top brokerage calls for April 16: Macquarie 'neutral' on Dr Reddy's Labs, RIL

    Top brokerage calls for April 16: Macquarie 'neutral' on Dr Reddy's Labs, RIL
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    By Mousumi Paul   IST (Updated)

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    Indian benchmark indices are likely to set open higher following positive trade data and IMD monsoon forecast. Asian stocks hovered below a nine-month peak after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses.

    Indian shares are likely to open higher following positive trade data and IMD monsoon forecast. Asian stocks hovered below a nine-month peak after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses.
    At 07:59 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, was up 0.07 percent at 11,745, indicating a quiet start on Dalal Street.
    On Monday, the S&P BSE Sensex settled 138.73 points higher at 38,905.84 while the Nifty50 closed higher by 46.90 points to end at 11,690.35.
    Here are the top brokerage calls for the day:
    Macquarie on Reliance Industries
    • Maintain 'Neutral' call, target at Rs 1,290 per share
    • For Q4, expect EPS of Rs 16 (-8% QoQ, +1% YoY)
    • Post results, expect consensus to raise FY1-2 EPS estimates
    • Q/Q declines in refining, petchems, E&P, partly offset by organised retail, Jio
    • Macquarie on Dr Reddy's Laboratories 
      • Maintain 'Neutral' call, target at Rs 2,648 per share
      • Resolution in less than 3 months for Bachupally Unit-3 ahead of expectations
      • Outstanding warning letter for Srikakulam only troublesome point
      • Bachupally is the highest contributor to Co’s US sales at 35 percent
      • Goldman Sachs on ICICI Bank
        • Reiterate 'Buy' call, target at Rs 492 per share
        • Mobilisation and strength of retail franchise central to investment thesis
        • Strong deposit franchise, lower cost of funds put Co at an advantage
        • Expect Co to deliver RoAs/RoEs of 1.8/17 percent over FY20-21
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