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Top brokerage calls for October 10: Jefferies cautious on Bharti Airtel, Vodafone after Jio's IUC charge

Updated : 2019-10-10 08:05:43

Indian shares are likely to open negative on Thursday following global markets which tumbled over no signs of progress in trade talks between Washington and Beijing. On Wednesday, Indian shares snapped a six-day losing streak led by gains in financials. Among brokerages, Edelweiss maintains a 'buy' call on Bharti Airtel and 'hold' call on Vodafone Idea, while Jefferies is cautious on both these stocks. Here are the top brokerage calls for Thursday:

<strong>Edelweiss on Reliance Jio's interconnect usage charge (IUC) charge:</strong> The brokerage expects additional charges to drive up the company's revenue by 5 percent. Additional charges would translate into 10 percent increase in Jio’s EBITDA, Edelweiss added. It maintains a 'buy' call on Bharti Airtel and 'hold' call on Vodafone Idea.
Edelweiss on Reliance Jio's interconnect usage charge (IUC) charge: The brokerage expects additional charges to drive up the company's revenue by 5 percent. Additional charges would translate into 10 percent increase in Jio’s EBITDA, Edelweiss added. It maintains a 'buy' call on Bharti Airtel and 'hold' call on Vodafone Idea.
<strong>Jefferies on Reliance Jio's IUC Charge:</strong> The benefit of the current move for incumbents is unclear, according to the brokerage. It remains cautious on both Bharti Airtel and Vodafone Idea.
Jefferies on Reliance Jio's IUC Charge: The benefit of the current move for incumbents is unclear, according to the brokerage. It remains cautious on both Bharti Airtel and Vodafone Idea.
<strong>Citi on Reliance Jio's IUC Charge:</strong> Jio’s IUC recovery charge paves way for a price hike, but sustainability is key, the brokerage said, adding that this could translate to Rs 20 per month additional recharges. Given Vodafone’s high leverage, the stock could be the biggest near-term beneficiary, Citi noted.
Citi on Reliance Jio's IUC Charge: Jio’s IUC recovery charge paves way for a price hike, but sustainability is key, the brokerage said, adding that this could translate to Rs 20 per month additional recharges. Given Vodafone’s high leverage, the stock could be the biggest near-term beneficiary, Citi noted.
<strong>Morgan Stanley on Sun Pharma: </strong> The brokerage is 'overweight' on the stock with a target at Rs 505 per share. The brokerage believes the share price will rise in absolute terms over the next 30 days. It added that short-term valuation is much more compelling after the recent fall.
Morgan Stanley on Sun Pharma:  The brokerage is 'overweight' on the stock with a target at Rs 505 per share. The brokerage believes the share price will rise in absolute terms over the next 30 days. It added that short-term valuation is much more compelling after the recent fall.
<strong>Morgan Stanley on Cipla:</strong> The brokerage is 'equal-weight' on the stock with a target at Rs 578 per share. Morgan Stanley expects business to normalise in the medium term and it added that the valuations seem attractive at current levels.
Morgan Stanley on Cipla: The brokerage is 'equal-weight' on the stock with a target at Rs 578 per share. Morgan Stanley expects business to normalise in the medium term and it added that the valuations seem attractive at current levels.
<strong>Citi on metals and cement:</strong> The brokerage expects Q2 results to be weak across metals and cement space. Citi noted that it would look out for EBITDA per tonne trends across to set the base for the future. It continues to prefer cement over metals.
Citi on metals and cement: The brokerage expects Q2 results to be weak across metals and cement space. Citi noted that it would look out for EBITDA per tonne trends across to set the base for the future. It continues to prefer cement over metals.
<strong>Nomura on Minda Industries:</strong> The brokerage is bullish on the stock with a target at Rs 378 per share. The company expects to complete the acquisition of Delvis in two months, the brokerage said, adding that it remains positive on the company as it is a key beneficiary of ongoing premiumisation.
Nomura on Minda Industries: The brokerage is bullish on the stock with a target at Rs 378 per share. The company expects to complete the acquisition of Delvis in two months, the brokerage said, adding that it remains positive on the company as it is a key beneficiary of ongoing premiumisation.
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