Among brokerages, Citi has a 'buy' call on Adani Ports despite the negative news flow. Meanwhile, Citi and JPMorgan are also bullish on Coal India after the firm reported its March quarter numbers. Here's a look at the top brokerage calls for today:
Citi on Adani Ports: The brokerage has a 'buy' call on the stock with a target price at Rs 1,000 per share. Negative news flow around Adani Ports’ Group companies is a sentiment dampener but is less likely to have any major impact on the companies’ business prospects, said the brokerage.
Citi on Coal India: The brokerage has a 'buy' call on the stock with a target price at Rs 160 per share. For Coal India, the next wage revision due in July is a key factor to watch out for, noted the brokerage.
JPMorgan on Coal India: The brokerage is 'overweight' on the stock with a target price at Rs 200 per share. E-auction price increase offsets higher costs for CIL, said the brokerage. It added that the final dividend per share at 80 percent is positive.
JPMorgan on Lupin: The brokerage is 'underweight' on the stock with a lower target price at Rs 965 per share. US FDA’s warning letter to Lupin’s Somerset unit brings risk to the forefront. JPMorgan is also cautious about the stock due to the risk of an earnings disappointment.
JPMorgan on Tata Steel: The brokerage is overweight on the stock with a target price at Rs 1,610 per share. It added that EBITDA over the next 3 years may settle at a higher level versus an average of the last few years. JPMorgan finds Tata Steel to be a perfect candidate for re-rating.
Macquarie on RBI's MFI Note: As per the brokerage, proposed regulations on MFIs by RBI is much more lenient than what the market expected.
CLSA on RBI's MFI Note: RBI’s note is an overall positive for NBFC-MFIs, said the brokerage. Earlier regulations were more strictly defined for NBFC-MFIs versus banks, SFBs, it added.