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Top brokerage calls for July 23: Morgan Stanley, CLSA bullish on Kotak Bank; Citi maintains 'sell' on TVS Motor

Updated : 2019-07-23 08:14:35

Indian benchmark indices are likely to start on a flat note on Tuesday, tracking mild gains in Asian peers, as investors remained cautious amid the ongoing June-quarter earnings season. On Monday, the indices ended lower, dragged by financial stocks. Among the brokerages, Morgan Stanley and CLSA are bullish on Kotak Mahindra Bank post Q1 earnings, while Citi has maintained 'sell' call on TVS Motor Company. Here are the top brokerage calls for Tuesday:

<strong>Morgan Stanley on Kotak Bank:</strong> The brokerage has an 'overweight' call on the stock with a target at Rs 1,600 per share. Asset quality and CASA traction for the private sector lender remained strong, it added.
Morgan Stanley on Kotak Bank: The brokerage has an 'overweight' call on the stock with a target at Rs 1,600 per share. Asset quality and CASA traction for the private sector lender remained strong, it added.
<strong>Credit Suisse on Kotak Bank:</strong> The brokerage is 'neutral' on the stock with a target at Rs 1,340 per share. It says that the company's Q1 results are largely in-line with the estimates and the margin outlook remains strong.
Credit Suisse on Kotak Bank: The brokerage is 'neutral' on the stock with a target at Rs 1,340 per share. It says that the company's Q1 results are largely in-line with the estimates and the margin outlook remains strong.
<strong>CLSA on Kotak Bank:</strong> CLSA maintains 'buy' rating on Kotak Mahindra Bank and raises its target to Rs 1,750 from Rs 1,665 earlier. It says scope for re-rating is limited and see a 22 percent profit CAGR over FY19-22.
CLSA on Kotak Bank: CLSA maintains 'buy' rating on Kotak Mahindra Bank and raises its target to Rs 1,750 from Rs 1,665 earlier. It says scope for re-rating is limited and see a 22 percent profit CAGR over FY19-22.
<strong>Credit Suisse on TVS Motor Company:</strong> The brokerage upgraded the stock to 'neutral' from 'underperform' but cut its price target to Rs 360 per share from Rs 390 earlier. On both scooters and motorcycles, the company continues to outperform the industry, the brokerage adds.
Credit Suisse on TVS Motor Company: The brokerage upgraded the stock to 'neutral' from 'underperform' but cut its price target to Rs 360 per share from Rs 390 earlier. On both scooters and motorcycles, the company continues to outperform the industry, the brokerage adds.
<strong>Citi on TVS Motor Company:</strong> The brokerage has a 'sell' call on the stock and cut its target to Rs 360 per share from Rs 430 earlier. Management commentary on Industry growth is negative and the outlook remains weak, it noted.
Citi on TVS Motor Company: The brokerage has a 'sell' call on the stock and cut its target to Rs 360 per share from Rs 430 earlier. Management commentary on Industry growth is negative and the outlook remains weak, it noted.
<strong>Citi on GSK Pharma:</strong> The brokerage is bearish on the stock with a target at Rs 1,240 per share. The company reported an in-line performance at the net income level but slightly missed revenue.
Citi on GSK Pharma: The brokerage is bearish on the stock with a target at Rs 1,240 per share. The company reported an in-line performance at the net income level but slightly missed revenue.
<strong>Morgan Stanley on United Spirits:</strong> The brokerage has an 'overweight' call on the company with a target at Rs 700 per share. The company's operating cost rationalisation and improved capital efficiencies drove earnings growth, it added.
Morgan Stanley on United Spirits: The brokerage has an 'overweight' call on the company with a target at Rs 700 per share. The company's operating cost rationalisation and improved capital efficiencies drove earnings growth, it added.
<strong>Credit Suisse on United Spirits:</strong> The brokerage is 'neutral' on the stock with a target at Rs 570 per share. It says looking for comments on sustainability of cost cuts in ads, employee.
Credit Suisse on United Spirits: The brokerage is 'neutral' on the stock with a target at Rs 570 per share. It says looking for comments on sustainability of cost cuts in ads, employee.
<strong>Morgan Stanley on Just Dial:</strong> The brokerage has an 'overweight' call on the stock with a target at Rs 680 per share. It notes that operating metrics point to sustained growth momentum and the revenue of Rs 240 crore was in-line with estimates.
Morgan Stanley on Just Dial: The brokerage has an 'overweight' call on the stock with a target at Rs 680 per share. It notes that operating metrics point to sustained growth momentum and the revenue of Rs 240 crore was in-line with estimates.
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