Motilal Oswal
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Top brokerage calls for June 28: Citi cuts price target for Maruti, Credit Suisse remains bearish on Bank of Baroda

Updated : 2019-06-28 08:12:39

Indian shares are likely to open higher on Friday in line with gains in global markets as world leaders meet at the G20 meeting in Osaka, Japan. Asia shares inched higher on hopes that a meeting between US President Donald Trump and Chinese President Xi Jinping could ease trade tensions. Among brokerages, Credit Suisse has 'underperform' call on Bank of Baroda, but is bullish on Torrent Pharma. Macquarie is 'neutral' on Reliance Industries while Citi has a 'buy' call on Maruti with a cut in target price. Here are other top brokerage calls for Friday:

<strong>Citi on Maruti</strong>: The brokerage is positive on the stock but cut its target price to Rs 7,400 per share from Rs 8,000 earlier. It added that the current slowdown will probably be the second longest slowdown but the company is best positioned to ride it out.
Citi on Maruti: The brokerage is positive on the stock but cut its target price to Rs 7,400 per share from Rs 8,000 earlier. It added that the current slowdown will probably be the second longest slowdown but the company is best positioned to ride it out.
<strong>Credit Suisse on Bank of Baroda</strong>: The brokerage has 'underperform' call on the stock with a target at Rs 115 per share. Growth for the merged entity has continued to weaken, it said and added that it expects growth to remain tepid.
Credit Suisse on Bank of Baroda: The brokerage has 'underperform' call on the stock with a target at Rs 115 per share. Growth for the merged entity has continued to weaken, it said and added that it expects growth to remain tepid.
<strong>Macquarie on Reliance</strong>: The brokerage is 'neutral' on RIL and expects further asset monetisation to solve the company’s rising net debt. Macquarie sees a weak operating environment for core refining and chem divisions.
Macquarie on Reliance: The brokerage is 'neutral' on RIL and expects further asset monetisation to solve the company’s rising net debt. Macquarie sees a weak operating environment for core refining and chem divisions.
<strong>CLSA on Infosys</strong>: The brokerage is bullish on the stock with a target at Rs 900 per share. It added that the higher returns have helped improve the company's return ratios and unchecked margin decline remains worrisome.
CLSA on Infosys: The brokerage is bullish on the stock with a target at Rs 900 per share. It added that the higher returns have helped improve the company's return ratios and unchecked margin decline remains worrisome.
<strong>Credit Suisse on Torrent Pharma:</strong> The brokerage maintained outperform call on the stock with a target at Rs 1,750 per share. It added that the company's working capital cycle stays as the best in the sector and overall margin should be even higher.
Credit Suisse on Torrent Pharma: The brokerage maintained outperform call on the stock with a target at Rs 1,750 per share. It added that the company's working capital cycle stays as the best in the sector and overall margin should be even higher.
<strong>Deutsche Bank on UltraTech Cements:</strong> The brokerage has a 'buy' call on the stock with a target at Rs 4,815 per share. The brokerage believes if UltraTech acquires Emami Cement for Rs 5,000-5,500 crore, the company's debt will rise by 26-29 percent.
Deutsche Bank on UltraTech Cements: The brokerage has a 'buy' call on the stock with a target at Rs 4,815 per share. The brokerage believes if UltraTech acquires Emami Cement for Rs 5,000-5,500 crore, the company's debt will rise by 26-29 percent.
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