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Top brokerage calls for July 9: Credit Suisse downgrades Titan, CLSA bearish on Tata Motors

Updated : 2019-07-09 08:17:12

Indian benchmark indices are likely to open little changed on Tuesday amid continued selling pressure over Budget proposals and mixed trades in global markets. Asian shares traded marginally higher following losses in the US stocks over fading hopes of a huge rate cut by the US Federal Reserve. Among brokerages, CLSA has a 'sell' call on Tata Motors while Credit Suisse downgraded Titan to 'neutral' from 'outperform'. Morgan Stanley is 'underweight' on Mindtree, while Citi is bullish on JSPL. Here are the top brokerage calls for Tuesday:

<strong>CLSA on Tata Motors:</strong> The brokerage has a 'sell' call on the stock with a target of Rs 150 per share. JLR commentary is cautious and rising warranty and impairments are the main causes of concern, it added.
CLSA on Tata Motors: The brokerage has a 'sell' call on the stock with a target of Rs 150 per share. JLR commentary is cautious and rising warranty and impairments are the main causes of concern, it added.
<strong>Credit Suisse on Titan:</strong> The brokerage downgraded the stock to 'neutral' from 'outperform' with a target of Rs 1,250 per share. Impact of gold price should not last beyond a few months, it said, adding that it is positive on the medium-term and market-share driven growth story.
Credit Suisse on Titan: The brokerage downgraded the stock to 'neutral' from 'outperform' with a target of Rs 1,250 per share. Impact of gold price should not last beyond a few months, it said, adding that it is positive on the medium-term and market-share driven growth story.
<strong>IDFC Securities on Titan:</strong> The brokerage has an 'outperform' rating on the stock with a target of Rs 1,310 per share. It added that the stock will remain under pressure in the near-term, but medium-to-long-term structural drivers remain intact.
IDFC Securities on Titan: The brokerage has an 'outperform' rating on the stock with a target of Rs 1,310 per share. It added that the stock will remain under pressure in the near-term, but medium-to-long-term structural drivers remain intact.
<strong>CLSA on Financials</strong>: The brokerage thinks ICICI Bank, Axis Bank, and SBI will outperform on profit growth. It added that YES Bank will report a sharp fall due to the consolidation of loans, weak top line.
CLSA on Financials: The brokerage thinks ICICI Bank, Axis Bank, and SBI will outperform on profit growth. It added that YES Bank will report a sharp fall due to the consolidation of loans, weak top line.
<strong>Nomura on Financials:</strong> The brokerage believes Q1 results for this sector will be a mixed bag. It expects loan growth decline trend to remain broad-based and prefers SBI in the financial space.
Nomura on Financials: The brokerage believes Q1 results for this sector will be a mixed bag. It expects loan growth decline trend to remain broad-based and prefers SBI in the financial space.
<strong>CLSA on Oil and Gas:</strong> The brokerage retained 'sell' call on IOC, BPCL, and HPCL as budget raised concerns. No increase in oil subsidy bill will keep borrowings high for OMCs.
CLSA on Oil and Gas: The brokerage retained 'sell' call on IOC, BPCL, and HPCL as budget raised concerns. No increase in oil subsidy bill will keep borrowings high for OMCs.
<strong>Morgan Stanley on Mindtree:</strong> The brokerage is 'underweight' on the stock with a target of Rs 820 per share. It expects a soft Q1 for the company due to push out in deal closures.
Morgan Stanley on Mindtree: The brokerage is 'underweight' on the stock with a target of Rs 820 per share. It expects a soft Q1 for the company due to push out in deal closures.
<strong>Citi on JSPL:</strong> The brokerage is bullish on the stock with a target of Rs 250 per share. Long-term EBITDA potential looks significant, it said, adding that deleveraging process will likely accelerate here-on.
Citi on JSPL: The brokerage is bullish on the stock with a target of Rs 250 per share. Long-term EBITDA potential looks significant, it said, adding that deleveraging process will likely accelerate here-on.
<strong>Nomura on MF Flows:</strong> The brokerage expects liquidity situation to continue to remain adverse in the near term. From a market share perspective, SBI MF is least impacted, it added.
Nomura on MF Flows: The brokerage expects liquidity situation to continue to remain adverse in the near term. From a market share perspective, SBI MF is least impacted, it added.
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