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Top brokerage calls for July 12: Nomura maintains 'buy' on Glenmark Pharma; CLSA raises price target of HDFC

Updated : 2019-07-12 07:59:03

Indian benchmark indices are set for a flat start on Friday following muted global cues and ahead of US-India trade talks beginning today. Asian shares edged lower over US-China trade concerns and ahead of the release of China’s June macroeconomic data. Among brokerages, CLSA is bullish on HDFC and has raised its target price. Nomura is positive on Glenmark Pharma while BofAML has upgraded Ambuja Cement and ACC. Here are the top brokerage calls for Friday:

<strong>CLSA on HDFC:</strong> The brokerage maintained a 'buy' call on the stock and raised its target to Rs 2,730 from Rs 2,500 per share. The shift in growth from 'value' to 'volume' is a structural positive, it said, adding that the company is well placed to play housing demand.
CLSA on HDFC: The brokerage maintained a 'buy' call on the stock and raised its target to Rs 2,730 from Rs 2,500 per share. The shift in growth from 'value' to 'volume' is a structural positive, it said, adding that the company is well placed to play housing demand.
<strong>Nomura on Glenmark:</strong> The brokerage is bullish on the stock with a target of Rs 867 per share. Forming partnership with other large Indian companies for a novel drug is a good strategy, it added. It expects Glenmark to tie up with more companies in due course.
Nomura on Glenmark: The brokerage is bullish on the stock with a target of Rs 867 per share. Forming partnership with other large Indian companies for a novel drug is a good strategy, it added. It expects Glenmark to tie up with more companies in due course.
<strong>Kotak Institutional Equities on Petronet LNG:</strong> The brokerage reiterated 'buy' call on the stock and raised the target to Rs 300 from Rs 270 per share. It expects volume trajectory to improve in the near-term.
Kotak Institutional Equities on Petronet LNG: The brokerage reiterated 'buy' call on the stock and raised the target to Rs 300 from Rs 270 per share. It expects volume trajectory to improve in the near-term.
<strong>Kotak Institutional Equities on ICICI Bank:</strong> The brokerage maintained 'buy' call on the stock with target raised to Rs 510 from Rs 460 per share. It added that the balance sheet is getting stronger and the business is back on track to deliver normalised level of RoEs by FY20-21.
Kotak Institutional Equities on ICICI Bank: The brokerage maintained 'buy' call on the stock with target raised to Rs 510 from Rs 460 per share. It added that the balance sheet is getting stronger and the business is back on track to deliver normalised level of RoEs by FY20-21.
<strong>BofAML on cement companies:</strong> The brokerage upgraded Ambuja Cements to 'buy' and ACC to 'neutral. It retained 'underperform' rating on Shree Cement and UltraTech. It expects subdued 4 percent cement volume growth in FY20.
BofAML on cement companies: The brokerage upgraded Ambuja Cements to 'buy' and ACC to 'neutral. It retained 'underperform' rating on Shree Cement and UltraTech. It expects subdued 4 percent cement volume growth in FY20.
<strong>CLSA on NTPC:</strong> CLSA maintained 'buy' call on the stock and said that the company is getting closer to lower under-recovery robust has a robust RE growth.
CLSA on NTPC: CLSA maintained 'buy' call on the stock and said that the company is getting closer to lower under-recovery robust has a robust RE growth.
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