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    Monday's top brokerage calls: Zomato, ITC, Varun Beverages and more

    Monday's top brokerage calls: Zomato, ITC, Varun Beverages and more

    Monday's top brokerage calls: Zomato, ITC, Varun Beverages and more
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    By CNBCTV18.com  IST (Updated)

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    SUMMARY

    Jefferies is positive on ITC and Varun Beverages while CLSA has a 'sell' call on Biocon. Here are the top brokerage calls for the day:

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    Jefferies on Zomato: The brokerage has maintained a 'buy' rating on the stock with a target price of Rs 175. The GST Council has made food delivery platforms liable to pay the indirect tax from January 1, which may raise the compliance burden on platforms and restaurants, according to Jefferies. No new tax is introduced but it is just a transfer of the GST payment responsibility, the brokerage said.

    2 / 5

    Jefferies on Varun Beverages: The brokerage has retained a 'buy' call on the stock with a target price of Rs 1,200. Varun Beverages' two products fall into the carbonated fruit beverage category, on which the GST Council has increased the tax rate to 40 percent from 12 percent. However, the impact will be negligible on the company as the two products form one percent of its overall volumes, according to Jefferies.

    3 / 5

    Jefferies on ITC: The brokerage has maintained an 'outperform' rating on the stock with a raised target of Rs 300. The GST Council has made no rate change in any of the cess sectors including tobacco, and the company is set to see a recovery in cigarette volumes and earnings in the coming quarters, according to Jefferies.

    Sebi levies fine on Biocon employee for violating insider trading norms
    4 / 5

    Morgan Stanley on Biocon: The brokerage has an 'equal-weight' call on the stock with a target price of Rs 371. The Serum deal will help Biocon complement its biosimilars business, according to Morgan Stanley. The sustenance of demand for Covid vaccines beyond 2022 and price challenges are key risks, it added.

    Biocon
    5 / 5

    CLSA on Biocon: The brokerage has a 'sell' call on the stock with a target price of Rs 260. The company's revenue is expected to start to accrue from the second half of FY23 with Covid vaccines.

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