Among brokerages, CLSA is bullish on L&T and has raised the target price of HDFC Bank. Meanwhile, Jefferies has 'buy' calls on Axis Bank and ICICI Bank and has raised their target prices. Here are the top brokerage calls for the day:
CLSA on L&T: The brokerage reiterated a 'buy' call on the stock with a target at Rs 1,400 per share. It added that focus on large and complex infrastructure projects has paid off.
CLSA on HDFC Bank: The brokerage maintained a 'buy' call on the stock and raised its target to Rs 1,700 per share from Rs 1,525 earlier. The company remains one of the top picks for the brokerage.
Jefferies on Axis Bank: The brokerage maintains a 'buy' call on the stock and has raised its target to Rs 700 per share from Rs 610 earlier. It sees earnings for the lender recovering from FY22 onwards.
Jefferies on ICICI Bank: The brokerage maintains a 'buy' call on the stock and has raised the target price to Rs 570 per share from Rs 530 earlier. It further noted that better capital and CASA will aid loan growth.
Morgan Stanley on Tata Steel: The brokerage is 'overweight' on the stock with a target at Rs 690 per share. It sees upside risks to their estimates for H2FY21.