Jefferies has a 'buy' call on Concor, and CLSA on ITC. Here are the top brokerage calls for the day:
1 / 5
Credit Suisse on Asian Paints: The brokerage has retained an 'outperform' call on the stock with a target price of Rs 3,650. The demand buoyancy continues for the company, for which waterproofing is a strong growth area. Credit Suisse does not see any permanent hit to the company's margin given its high pricing power.
2 / 5
CLSA on ITC: The brokerage has maintained a 'buy' rating on the stock with a target price of Rs 265. The company's FMCG business is firmly on path for a profitable scale-up, and is expected to deliver a 31 percent EBITDA CAGR over the FY20-FY24 period, according to CLSA.
3 / 5
Citi on aluminium: The aluminium price on LME has risen 12 percent in three months as risks related to Chinese supply disruptions continue, according to the brokerage. Citi also said that alumina prices are up 13 percent on account of fire at the Jamalco plant and production cuts in China, which could be exacerbated by potential supply disruptions from Guinea.
4 / 5
Jefferies on telecom: The JioPhone Next is Reliance Jio's next attempt at boosting data usage, according to the brokerage. Jefferies also said that upgrades from JioPhone devices could boost the telecom company's FY23 revenue estimates by up to 10 percent. The churn among smartphone users could impact Bharti Airtel's India mobile revenue in FY23 by 2-3 percent, according to Jefferies.
5 / 5
Jefferies on Container Corporation: The brokerage has maintained a 'buy' rating on the stock with a target price of Rs 870. The government ownership has limited the FY21 fixed cost cuts unlike private sector companies, according to Jefferies.