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Top brokerage calls for November 13: Citi bullish on Britannia; Kotak maintains 'sell' on Motherson Sumi

Updated : 2019-11-13 08:09:25

Indian shares are expected to open lower on Wednesday in line with global markets and amid growing concerns of slowing economic activities in India. Shares in Asian and the US markets declined due to a lack of progress in the US-China trade negotiations. On stocks, Citi is bullish on Britannia and raised its target price, Kotak maintains a 'sell' call on Motherson Sumi. Here are the top brokerage calls for Wednesday:

 Citi on Britannia:  The brokerage put a 'buy' call on the stock and raised its target to Rs 3,575 per share from Rs 3,000 earlier. The brokerage revised its earnings per share (EPS) estimates by 9-10 percent over FY20-22, driven by new corporate tax rates. Consistent strategies and good execution should continue to drive healthy growth, Citi noted.
Citi on Britannia: The brokerage put a 'buy' call on the stock and raised its target to Rs 3,575 per share from Rs 3,000 earlier. The brokerage revised its earnings per share (EPS) estimates by 9-10 percent over FY20-22, driven by new corporate tax rates. Consistent strategies and good execution should continue to drive healthy growth, Citi noted.
 Macquarie on Britannia:  The brokerage maintained 'underperform' call on the stock with a target at Rs 2,518 per share. Volume growth of the company remained weak at 3 percent, according to the brokerage.
Macquarie on Britannia: The brokerage maintained 'underperform' call on the stock with a target at Rs 2,518 per share. Volume growth of the company remained weak at 3 percent, according to the brokerage.
 Kotak Institutional Equities on Motherson Sumi:  The brokerage maintained 'sell' call on the stock but raised its target price to Rs 110 per share from Rs 95 earlier. Consolidated EBITDA at 8 percent was above estimates, said the brokerage and increased the company's FY20-21 EPS estimates by 7-8 percent.
Kotak Institutional Equities on Motherson Sumi: The brokerage maintained 'sell' call on the stock but raised its target price to Rs 110 per share from Rs 95 earlier. Consolidated EBITDA at 8 percent was above estimates, said the brokerage and increased the company's FY20-21 EPS estimates by 7-8 percent.
 Citi on Coal India:  The brokerage put a 'buy' call on the stock and raised its target to Rs 270 per share from Rs 250 earlier. It added that volume weakness could persist for a few months.
Citi on Coal India: The brokerage put a 'buy' call on the stock and raised its target to Rs 270 per share from Rs 250 earlier. It added that volume weakness could persist for a few months.
 Kotak Institutional Equities on NMDC:  The brokerage maintained 'reduce' call on the stock and cut its target price to Rs 100 from Rs 106 earlier. It sees the company's prices to remain under pressure in H2FY20.
Kotak Institutional Equities on NMDC: The brokerage maintained 'reduce' call on the stock and cut its target price to Rs 100 from Rs 106 earlier. It sees the company's prices to remain under pressure in H2FY20.
 Citi on NMDC:  The brokerage has a 'buy' call on the stock with a target at Rs 125 per share. Expiry of mining leases in March 2020 may not be disruptive for domestic ore supply, said the brokerage. It noted that potential losses could largely be offset by alternate sources.
Citi on NMDC: The brokerage has a 'buy' call on the stock with a target at Rs 125 per share. Expiry of mining leases in March 2020 may not be disruptive for domestic ore supply, said the brokerage. It noted that potential losses could largely be offset by alternate sources.
 Morgan Stanley on Adani Ports:  The brokerage is 'overweight' on the stock with a target at Rs 408 per share. For FY20, management guided for volume growth of 8-10 percent, said the brokerage. It added that the company lowered FY20 revenue growth target to 11-13 percent from 12-14 percent.
Morgan Stanley on Adani Ports: The brokerage is 'overweight' on the stock with a target at Rs 408 per share. For FY20, management guided for volume growth of 8-10 percent, said the brokerage. It added that the company lowered FY20 revenue growth target to 11-13 percent from 12-14 percent.
 Nomura on Adani Ports:  The brokerage is 'neutral' on the stock and raised its target to Rs 430 per share from Rs 415 earlier. As per the brokerage, the company's capital expenditure will be elevated until FY21 given trade weakness.
Nomura on Adani Ports: The brokerage is 'neutral' on the stock and raised its target to Rs 430 per share from Rs 415 earlier. As per the brokerage, the company's capital expenditure will be elevated until FY21 given trade weakness.
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