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Top brokerage calls for September 24: Credit Suisse maintains 'underperform' on Infosys; Morgan Stanley bullish on RIL

Updated : 2019-09-24 07:59:50

Indian shares are likely to extend gains made in the last two sessions on the government’s booster in the form of corporate tax rate cut, a reform which is likely to benefit several firms. Asian shares too were trading higher, adding to positives for the domestic market. At 7:00 am, the SGX Nifty futures traded 0.69 percent or 79.50 points higher at 11,680.50, indicating a strong start for Sensex and Nifty. Among brokerages, Credit Suisse is bearish on Infosys and Morgan Stanley is bullish on RIL. Here are the top brokerage calls for Tuesday:

<strong>Credit Suisse on Infosys:</strong> The brokerage has an 'underperform' rating on the stock but raised its target to Rs 690 per share from Rs 670 earlier. The company is staring at a weaker H2 on softness in key large verticals and base effect, it said. Organic revenue growth may moderate to 8 percent in Q4 from 12 percent in Q1, it added.
Credit Suisse on Infosys: The brokerage has an 'underperform' rating on the stock but raised its target to Rs 690 per share from Rs 670 earlier. The company is staring at a weaker H2 on softness in key large verticals and base effect, it said. Organic revenue growth may moderate to 8 percent in Q4 from 12 percent in Q1, it added.
<strong>Jefferies on Petronet LNG:</strong> The brokerage maintains 'buy' rating on the stock with a target of Rs 315 per share. It added that the valuation of the stock is reasonable post the 6 percent fall on September 23 and earnings may also rise from tax rate cuts.
Jefferies on Petronet LNG: The brokerage maintains 'buy' rating on the stock with a target of Rs 315 per share. It added that the valuation of the stock is reasonable post the 6 percent fall on September 23 and earnings may also rise from tax rate cuts.
<strong>Citi on Tech Mahindra:</strong> The brokerage maintains 'neutral' call on the stock and has raised its target to Rs 730 per share from Rs 705 earlier. The stock should continue to be supported by positive sentiment, it said, raising FY21-22 revenue and EPS estimates by 3 percent and 2-3 percent.
Citi on Tech Mahindra: The brokerage maintains 'neutral' call on the stock and has raised its target to Rs 730 per share from Rs 705 earlier. The stock should continue to be supported by positive sentiment, it said, raising FY21-22 revenue and EPS estimates by 3 percent and 2-3 percent.
<strong>Morgan Stanley on Reliance Industries</strong>: The brokerage is 'overweight' on the stock with a target of Rs 1,369 per share. The company is increasing investor confidence in earnings delivery, the brokerage said, adding that lower taxes and cheaper gas feed costs should de-risk outlook.
Morgan Stanley on Reliance Industries: The brokerage is 'overweight' on the stock with a target of Rs 1,369 per share. The company is increasing investor confidence in earnings delivery, the brokerage said, adding that lower taxes and cheaper gas feed costs should de-risk outlook.
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