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Top brokerage calls for July 11: CLSA maintains 'sell' call on Bharti Infratel; HSBC cuts price target for IndiGo

Updated : 2019-07-11 07:48:42

Indian benchmark indices are likely to open higher on Thursday, tracking gains in Asia, after US Federal Reserve chair Jerome Powell reinforced prospects of a US interest rate cut later this month. On Wednesday, the Sensex ended 174 points lower while the Nifty closed below 11,500 for the first time since May 17, dragged mainly by auto, metal and PSU Bank stocks. Among brokerages, CLSA retained its 'sell' call on Bharti Infratel, while, HSBC has 'buy' on IndiGo but has cut its price target. Citi is bullish on L&T Infotech and bearish on Dr Reddy's. Here are the top brokerage calls for Thursday:

<strong>CLSA on Bharti Infratel:</strong> The brokerage maintained a 'sell' call on the stock with a target of Rs 250 per share. Merger with Indus Towers is likely to happen in the coming months, it added.
CLSA on Bharti Infratel: The brokerage maintained a 'sell' call on the stock with a target of Rs 250 per share. Merger with Indus Towers is likely to happen in the coming months, it added.
<strong>HSBC on IndiGo</strong>: The brokerage maintained 'hold' call on the stock with target cut to Rs 1,405 from Rs 1,508 earlier. Promoter issue can have a serious impact on the operations and promoter selling stake would be a further risk, it added.
HSBC on IndiGo: The brokerage maintained 'hold' call on the stock with target cut to Rs 1,405 from Rs 1,508 earlier. Promoter issue can have a serious impact on the operations and promoter selling stake would be a further risk, it added.
<strong>Citi on L&T Infotech:</strong> The brokerage has a 'buy' call on the stock with a target of Rs 2,010 per share. Maintain 'buy' given better growth trajectory versus peers, it added.
Citi on L&T Infotech: The brokerage has a 'buy' call on the stock with a target of Rs 2,010 per share. Maintain 'buy' given better growth trajectory versus peers, it added.
<strong>Citi on Dr Reddy's:</strong> The brokerage has a 'sell' call on the stock with a target of Rs 2,670 per share. Citi remains concerned over the high concentration risk in earnings.
Citi on Dr Reddy's: The brokerage has a 'sell' call on the stock with a target of Rs 2,670 per share. Citi remains concerned over the high concentration risk in earnings.
<strong>Kotak Institutional Equities on ICICI Lombard</strong>: The brokerage maintained 'sell' call on the stock with target raised to Rs 775 per share from Rs 750 earlier. The brokerage expects combined ration to inch up to 100 percent in FY20-22 from 98.5 percent.
Kotak Institutional Equities on ICICI Lombard: The brokerage maintained 'sell' call on the stock with target raised to Rs 775 per share from Rs 750 earlier. The brokerage expects combined ration to inch up to 100 percent in FY20-22 from 98.5 percent.
<strong>Kotak Institutional Equities on Ashok Leyland:</strong> The brokerage has a 'buy' call on the stock with a target at Rs 130 per share. FY19 revenue growth was strong on M&HCV markets, however, margin decline was due to intense competition and high discounting.
Kotak Institutional Equities on Ashok Leyland: The brokerage has a 'buy' call on the stock with a target at Rs 130 per share. FY19 revenue growth was strong on M&HCV markets, however, margin decline was due to intense competition and high discounting.
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