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Top brokerage calls for July 1: Nomura maintains 'buy' call on IndusInd bank; CLSA raises price target of Havells, HDFC Bank

Updated : 2019-07-01 08:16:46

Indian benchmark indices are likely to open in green on Monday tracking Asian peers amid positive development in US-China trade negotiations and rising oil prices. Asian shares advanced after the US and China agreed to restart trade talks and hold new tariffs. Investors, however, will remain cautious ahead of the Union Budget on July 5. Among brokerages, Nomura remains bullish on IndusInd Bank while Citi is positive on UPL. Here are the top brokerage calls for Monday:

<strong>Nomura on IndusInd Bank:</strong> The brokerage maintained a 'buy' rating on the stock with a target of Rs 1,775 per share. It added that the past high multiples are unlikely to return soon.
Nomura on IndusInd Bank: The brokerage maintained a 'buy' rating on the stock with a target of Rs 1,775 per share. It added that the past high multiples are unlikely to return soon.
<strong>CLSA on HDFC Bank:</strong> The brokerage is bullish on the stock and has raised its target to Rs 2,930 per share from Rs 2,850 earlier. Risk appetite is peaking and the lender is focussing on deposit mobilisation and digitisation, it added.
CLSA on HDFC Bank: The brokerage is bullish on the stock and has raised its target to Rs 2,930 per share from Rs 2,850 earlier. Risk appetite is peaking and the lender is focussing on deposit mobilisation and digitisation, it added.
<strong>CLSA on Havells India:</strong> CLSA has an 'outperform' rating on the stock and has raised its target to Rs 840 per share from Rs 780 earlier. It expects the stock to be the best play on housing market revival.
CLSA on Havells India: CLSA has an 'outperform' rating on the stock and has raised its target to Rs 840 per share from Rs 780 earlier. It expects the stock to be the best play on housing market revival.
<strong>Citi on UPL:</strong> The brokerage retained a 'buy' call on the stock with a target at Rs 1,200 per share. The concerns over the impact of Mauritius tax policy changes appear premature, the brokerage added.
Citi on UPL: The brokerage retained a 'buy' call on the stock with a target at Rs 1,200 per share. The concerns over the impact of Mauritius tax policy changes appear premature, the brokerage added.
<strong>Kotak Institutional Equities on IT Services:</strong> The brokerage expects steady revenue growth for tier-1 IT companies, but see mid-tier firms reporting muted performance.
Kotak Institutional Equities on IT Services: The brokerage expects steady revenue growth for tier-1 IT companies, but see mid-tier firms reporting muted performance.
<strong>Morgan Stanley on India Economics:</strong> The brokerage said that the March-quarter current account deficit is at an eight-quarter low led by trade deficit improvement. It added that the balance of payment is likely to be in surplus in the first quarter of FY20.
Morgan Stanley on India Economics: The brokerage said that the March-quarter current account deficit is at an eight-quarter low led by trade deficit improvement. It added that the balance of payment is likely to be in surplus in the first quarter of FY20.
<strong>Goldman Sachs on India Economics:</strong> The brokerage said that the current account deficit narrowed in last quarter of FY19, as expected driven by a lower goods trade deficit.
Goldman Sachs on India Economics: The brokerage said that the current account deficit narrowed in last quarter of FY19, as expected driven by a lower goods trade deficit.
<strong>Citi on Gas Sector:</strong> The brokerage was positive on the sector with its pecking order as Gujarat Gas, Indraprastha Gas, and Mahanagar Gas.
Citi on Gas Sector: The brokerage was positive on the sector with its pecking order as Gujarat Gas, Indraprastha Gas, and Mahanagar Gas.
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