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Top brokerage calls for October 7: CLSA maintains 'sell' call on BPCL; IDFC Securities bullish on Zee

Updated : 2019-10-07 08:07:11

The Indian market fell for the fifth consecutive session on Friday after the Reserve Bank of India (RBI) reduced FY20 GDP growth target to 6.1 percent from 6.9 percent. In the bi-monthly monetary policy, the RBI cut repo rate by 25 bps for the fifth time this year as expected, in a bid to boost growth the economy. The Sensex ended 433 points lower at 37,673, while the broader Nifty50 index lost 139 points to end the day at 11,175. Among brokerages, CLSA maintains 'sell' call on BPCL, while morgan Stanley is 'overweight' on Biocon. Here are the top brokerage calls for Monday:

 IDFC Securities on Zee:  The brokerage has an 'outperform' call on the stock with a target at Rs 416 per share. VTB encumbrance created in September 2017 and was a structured pledge on the company's shares and the new SEBI norms mandate direct/indirect encumbrances to be disclosed, noted the brokerage. Promoters are hopeful of resolving the pledged shares issue in a quarter from now, it added.
IDFC Securities on Zee: The brokerage has an 'outperform' call on the stock with a target at Rs 416 per share. VTB encumbrance created in September 2017 and was a structured pledge on the company's shares and the new SEBI norms mandate direct/indirect encumbrances to be disclosed, noted the brokerage. Promoters are hopeful of resolving the pledged shares issue in a quarter from now, it added.
 CLSA on BPCL : The brokerage maintains 'sell' rating on the stock with a target at Rs 300 per share. According to CLSA, the stock rally has not left much on the table even under privatisation and that it may trade around Rs 445 per share based on peer multiples.
CLSA on BPCL: The brokerage maintains 'sell' rating on the stock with a target at Rs 300 per share. According to CLSA, the stock rally has not left much on the table even under privatisation and that it may trade around Rs 445 per share based on peer multiples.
 Morgan Stanley on Biocon : The brokerage is 'overweight' on the stock with a target at Rs 350 per share. Biocon and Mylan launched Semglee in Australia, which is the first insulin glargine biosimilar in Australia, said the broekrage, adding that company's Glargine is approved in over 40 countries including Europe, India and other key EMs.
Morgan Stanley on Biocon: The brokerage is 'overweight' on the stock with a target at Rs 350 per share. Biocon and Mylan launched Semglee in Australia, which is the first insulin glargine biosimilar in Australia, said the broekrage, adding that company's Glargine is approved in over 40 countries including Europe, India and other key EMs.
 Citi on ConCor:  The brokerage is bullish on the stock with a target at Rs 621 per share. Directorate General of Foreign Trade (DGFT) disallowed Rs 861 crore claim out of the company's total claim of Rs 1,044 crore, the brokerage said, adding that in the worst case, Rs 861 crore may have to be written off.
Citi on ConCor: The brokerage is bullish on the stock with a target at Rs 621 per share. Directorate General of Foreign Trade (DGFT) disallowed Rs 861 crore claim out of the company's total claim of Rs 1,044 crore, the brokerage said, adding that in the worst case, Rs 861 crore may have to be written off.
 Citi on Godrej Consumer:  The broekrage is 'neutral' on the stock with a target at Rs 655 per share. Citi believes upsides from here on are capped and that the recent uptick captures sequential improvement in reported numbers.
Citi on Godrej Consumer: The broekrage is 'neutral' on the stock with a target at Rs 655 per share. Citi believes upsides from here on are capped and that the recent uptick captures sequential improvement in reported numbers.
 Morgan Stanley on Bajaj Finance:  The brokerage has an 'equal-weight' call on the stock with a target at Rs 3,700 per share. Moderation in new customer acquisitions in-line with the company's Q1 commentary and the key thing to watch will be asset quality, said the brokerage.
Morgan Stanley on Bajaj Finance: The brokerage has an 'equal-weight' call on the stock with a target at Rs 3,700 per share. Moderation in new customer acquisitions in-line with the company's Q1 commentary and the key thing to watch will be asset quality, said the brokerage.
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