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Top brokerage calls for July 2: Deutsche Bank maintains 'hold' on Maruti, Nomura cuts price target for Ceat

Updated : 2019-07-02 08:38:48

Indian benchmark indices are likely to open in green on Tuesday, tracking mixed trends in global markets. Asian shares traded mixed after disappointing PMI data. Meanwhile, US stocks hit record highs in the previous session following progress in US-China trade negotiations. Among brokerages, Nomura maintains 'reduce' call on Ceat and cut its target price, while Deutsche Bank has a 'hold' rating on Maruti. Credit Suisse expects the government to stick to 3.4 percent deficit target. Here are the top brokerage calls for the day:

<strong>Deutsche Bank on Maruti:</strong> The brokerage has a 'hold' rating on the stock with a target at Rs 6,325 per share. It adds that the company's market share in Q1 declined 160 bps (y-o-y) and the market share losses will continue in the coming quarters.
Deutsche Bank on Maruti: The brokerage has a 'hold' rating on the stock with a target at Rs 6,325 per share. It adds that the company's market share in Q1 declined 160 bps (y-o-y) and the market share losses will continue in the coming quarters.
<strong>Nomura on Auto Sector</strong>: The brokerage notes that the industry wholesale volumes in June continued to decline sharply and that any government initiatives in the Budget could lead to demand recovery in the second half of FY20.
Nomura on Auto Sector: The brokerage notes that the industry wholesale volumes in June continued to decline sharply and that any government initiatives in the Budget could lead to demand recovery in the second half of FY20.
<strong>Nomura on Ceat:</strong> The brokerage maintains 'reduce' call on the stock and cut its target price to Rs 817 per share from Rs 980 earlier. It says the expansion in competitive and capital intensive segments is likely to impact the return on capital employed (ROCEs).
Nomura on Ceat: The brokerage maintains 'reduce' call on the stock and cut its target price to Rs 817 per share from Rs 980 earlier. It says the expansion in competitive and capital intensive segments is likely to impact the return on capital employed (ROCEs).
<strong>Credit Suisse on Market Strategy:</strong> The brokerage continues to expect the government to stick to the 3.4 percent deficit target. It adds that slippage would increase the compensation burden for the centre.
Credit Suisse on Market Strategy: The brokerage continues to expect the government to stick to the 3.4 percent deficit target. It adds that slippage would increase the compensation burden for the centre.
<strong>Credit Suisse on Havells India</strong>: The brokerage maintains 'neutral' call on the stock with a target at Rs 720 per share. It also says that the company is entering a soft growth patch driven by macro slowdown.
Credit Suisse on Havells India: The brokerage maintains 'neutral' call on the stock with a target at Rs 720 per share. It also says that the company is entering a soft growth patch driven by macro slowdown.
<strong>Credit Suisse on Reliance Industries:</strong> The brokerage maintains 'neutral' call on the stock with a target at Rs 1,350 per share. It also adds that retail should have a soft quarter given the economic slowdown. For Jio, it expects a 25 million user net addition in Q1FY20.
Credit Suisse on Reliance Industries: The brokerage maintains 'neutral' call on the stock with a target at Rs 1,350 per share. It also adds that retail should have a soft quarter given the economic slowdown. For Jio, it expects a 25 million user net addition in Q1FY20.
<strong>CLSA on Budget</strong>: The brokerage says potential rate cuts and one-time capital return by RBI are key hopes for easing. Weakening economy raised expectations of a fiscal boost in budget, it adds.
CLSA on Budget: The brokerage says potential rate cuts and one-time capital return by RBI are key hopes for easing. Weakening economy raised expectations of a fiscal boost in budget, it adds.
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