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Top brokerage calls for August 20: Credit Suisse upgrades RIL; Citi prefers HDFC among NBFC stocks

Updated : 2019-08-20 08:21:28

Indian shares are set for a flat start on Tuesday as markets await a relief package from the government to revive growth. Meanwhile, Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession and helping boost riskier assets. Among brokerages, Credit Suisse upgraded RIL to 'neutral', While CLSA cut the price target for NTPC. Here are the top brokerage calls for Tuesday:

<strong>Credit Suisse on Reliance Industries:</strong> The brokerage upgraded the stock to 'neutral' and raised its target price to Rs 1,210 from Rs 1,028 per share. The brokerage is factoring in a stronger balance sheet with a debt reduction of $22 billion till FY21 and low capex intensity guidance.
Credit Suisse on Reliance Industries: The brokerage upgraded the stock to 'neutral' and raised its target price to Rs 1,210 from Rs 1,028 per share. The brokerage is factoring in a stronger balance sheet with a debt reduction of $22 billion till FY21 and low capex intensity guidance.
<strong>Citi on NBFCs:</strong> The brokerage prefers HDFC followed by Shriram Transport Finance. It added that assets under management (AUM) growth slowed further due to liquidity constraints and end-market softness. Asset quality issues also emerged in pockets, especially in real estate loans, the brokerage noted.
Citi on NBFCs: The brokerage prefers HDFC followed by Shriram Transport Finance. It added that assets under management (AUM) growth slowed further due to liquidity constraints and end-market softness. Asset quality issues also emerged in pockets, especially in real estate loans, the brokerage noted.
<strong>CLSA on NTPC:</strong> The brokerage is bullish on the stock but cut its target price to Rs 165 per share from Rs 170 earlier. The company said that most one-offs that hurt in Q1 shall not repeat in H2, the brokerage said. CLSA also cut its FY20 EPS estimate by 4 percent to factor in weak Q1.
CLSA on NTPC: The brokerage is bullish on the stock but cut its target price to Rs 165 per share from Rs 170 earlier. The company said that most one-offs that hurt in Q1 shall not repeat in H2, the brokerage said. CLSA also cut its FY20 EPS estimate by 4 percent to factor in weak Q1.
<strong>Jefferies on Mahanagar Gas:</strong> The brokerage has a 'buy' call on the stock with a target at Rs 1,030 per share. The brokerage expects the margin to expand to Rs 9/standard cubic metre in FY20-22 from Rs 8.20/scm in FY19. This could be a good opportunity to accumulate the stock, it said.
Jefferies on Mahanagar Gas: The brokerage has a 'buy' call on the stock with a target at Rs 1,030 per share. The brokerage expects the margin to expand to Rs 9/standard cubic metre in FY20-22 from Rs 8.20/scm in FY19. This could be a good opportunity to accumulate the stock, it said.
<strong>Nomura on VA Tech</strong>: The brokerage has a 'buy' call on the stock but cut its target to Rs 445 from Rs 520 per share earlier. It said that recovery of stuck debtors by FY21 a key trigger, adding that FY20 revenue guidance of Rs 3,400-3,700 crore at risk if execution in key projects is delayed.
Nomura on VA Tech: The brokerage has a 'buy' call on the stock but cut its target to Rs 445 from Rs 520 per share earlier. It said that recovery of stuck debtors by FY21 a key trigger, adding that FY20 revenue guidance of Rs 3,400-3,700 crore at risk if execution in key projects is delayed.
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