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Top stock ideas from CLSA, Motilal Oswal, Edelweiss after corporate tax cuts

Top stock ideas from CLSA, Motilal Oswal, Edelweiss after corporate tax cuts

Top stock ideas from CLSA, Motilal Oswal, Edelweiss after corporate tax cuts
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By CNBC-TV18 Sept 24, 2019 3:09:03 PM IST (Updated)

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SUMMARY

Benchmark indices BSE Sensex and NSE's Nifty 50 have surged over 8 percent the last two sessions after finance minister Nirmala Sitharaman reduced corporate tax rates for domestic companies and new manufacturing firms. Industry leaders and analysts have called the move a structural reform that will improve investor sentiment and propel economic growth. Many brokerages have revised their stock strategies and index targets following the tax reforms. Here are the top stock ideas recommended by brokerages CLSA, Motilal Oswal, Edelweiss, Credit Suisse and Prabhudas Lilladher.

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CLSA believes HDFC Bank, ITC, Kotak Bank, ONGC, Larsen and Toubro, Sun Pharma and HCL Technologies are among the firms that would receive large tax benefits.

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Motilal Oswal recommends ICICI Bank, SBI, L&T, TItan and Airtel among largecap stocks. In midcaps, Indian Hotels, Ashok Leyland, Mahindra Finance and JK Cements are among the top stocks the brokerage recommends.

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Avenue Supermarts, Nestle, Asian Paints, ABB India and L&T are among the top stocks Credit Suisse prefers following the tax reforms.

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Edelweiss' top stock ideas include Axis Bank, Bharti Airtel, MindTree, SpiceJet and ICICI Bank.

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Brokerage Prabhudas Lilladher picks HDFC Bank, ICICI Bank, Maruti Suzuki, Ultratech Cement and Shriram Transport Finance among the stocks to invest after corporate tax cuts.

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UBS, JP Morgan, Nomura and many other brokerages have revised their strategies and targets for the Sensex and the Nifty post the announcement.

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Here is the highlight of finance minister Nirmala Sitharaman's tax reform announcement.

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