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Top brokerage calls for August 13: Morgan Stanley upgrades RIL to 'overweight'; Citi positive on Sun TV

Top brokerage calls for August 13: Morgan Stanley upgrades RIL to 'overweight'; Citi positive on Sun TV

Top brokerage calls for August 13: Morgan Stanley upgrades RIL to 'overweight'; Citi positive on Sun TV
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By CNBC-TV18 Aug 13, 2019 8:18:14 AM IST (Published)

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SUMMARY

Indian shares are likely to open higher on Tuesday amid expectations the government will address tax concerns and announce steps to revive economic growth. Meanwhile, Asian shares traded lower due to the weak sentiment arising from the US-China trade war and turbulence amongst protesters in Hong Kong. Among brokerages, Morgan Stanley upgraded RIL to 'overweight', while Jefferies remained bearish. Here are the top brokerage calls for Tuesday:

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Morgan Stanley on RIL: The brokerage upgraded the stock to 'overweight' from 'equal-weight' with a target at Rs 1,349 per share. It added that its time to relook at the stock and faster asset monetisation could surprise the street.

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CLSA on RIL: The brokerage retained 'buy' call on the stock with a target at Rs 1,530 per share. The company sets the stage for the next leap for its tech and consumer businesses, and may see a re-rating, it added.

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Jefferies on RIL: The brokerage maintains 'underperform' rating on the stock with a target at Rs 990 per share. It presumes Rs 0.6 lakh crore cut in net liability rather than Rs 1.5 lakh crore by March 2021.

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CLSA on Shree Cements: The brokerage downgraded the stock to 'underperform' from 'outperform' with a target at Rs 20,800 per share. They raised their realisation assumptions based on higher spot cement prices.

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CLSA on Cadila Healthcare: The brokerage upgraded the stock to 'buy' from 'sell' and raised its target to Rs 285 from Rs 250 per share. CLSA cut its FY20-21 EPS estimate by 8-14 percent on lower margin and higher depreciation assumptions.

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Citi on Cadila Healthcare: The brokerage has a 'sell' rating on the stock and cut its target to Rs 220 per share from Rs 255 earlier. The brokerage sees the company's US revenue declining. It added that compliance issues at Moraiya Plant are likely to resolve only in FY21.

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Citi on Britannia: The brokerage maintained 'buy' call on the stock with a target cut to Rs 3,000 per share from Rs 3,250 earlier. It cut estimate by 5-7 percent factoring the results and recent trends.

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Citi on Sun TV: The brokerage maintains 'buy' rating on the stock with target cut to Rs 580 per share from Rs 690 earlier.

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Jefferies on SAIL: The brokerage maintains 'underperform' rating on the stock with a target at Rs 34 per share. Q1 profit was well below estimates, it said, adding that with domestic steel prices softening, expect the margin to further decline.

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