Indian equity markets are set to open negatively on Monday after shares in South Korea plunged as the country raised coronavirus alert to the "highest level". Among brokerages, HSBC cuts price target for IndusInd Bank, while Citi remains bullish on Ambuja Cement. Here are the top brokerage calls for today:
HSBC on IndusInd Bank: The brokerage maintains 'buy' call on the stock but cut its target to Rs 1,825 per share from Rs 2,000 earlier. The brokerage does not expect an outsized deterioration of asset quality.
Citi on Ambuja Cement: The brokerage maintains 'buy' call on the stock and raised target to Rs 285 per share from Rs 270 earlier. Lower prices, weaker demand, and a weak economy are key downside risks, the brokerage added.
Nomura on Max Financial: Agreement with Axis will address investor concerns on long-term distribution tie-up, the brokerage noted. It maintains a 'buy' call on the stock and raised the target to Rs 700 from Rs 550 per share.
Nomura on Ambuja Cements: The brokerage has a 'neutral' rating on the stock with a target at Rs 240 per share.
Credit Suisse on Bharti Infratel: Bharti Infratel gets government approval to go ahead with the Indus Tower merger. The broekrage maintains 'underperform' rating on the stock with a target at Rs 200 per share.