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Tuesday's top brokerage calls: Adani Ports, HDFC and more

Tuesday's top brokerage calls: Adani Ports, HDFC and more

Tuesday's top brokerage calls: Adani Ports, HDFC and more
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By CNBCTV18.com Oct 6, 2020 8:55:20 AM IST (Published)

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SUMMARY

Among brokerages, Macquarie has an 'outperform' call on Adani Ports after Krishnapatnam Port’s acquisition while CLSA remains bullish on Tata Motors, Sobha, HDFC, and Marico. Here are the top brokerage calls for today:

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Macquarie on Adani Ports: The brokerage maintains 'outperform' call on the stock and has raised the target price to Rs 425 per share from Rs 390 earlier. It believes Krishnapatnam Port's acquisition will enhance the company's reach to 90 percent of India’s economic hinterland.

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CLSA on Adani Ports: The brokerage upgraded the stock to 'buy' and raised its target price to Rs 425 per share from Rs 386 earlier after Krishnapatnam Port’s acquisition. It also raised its EPS estimates by 6-10 percent.

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Morgan Stanley on Adani Ports: The brokerage is 'overweight' on the stock with a target of Rs 396 per share.

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Citi on Adani Ports: The brokerage maintains a 'buy' call on the stock with a target at Rs 402 per share. It expects FY21 EBITDA of Rs 1,200 crore from Krishnapatnam Port.

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CLSA on HDFC: The brokerage maintains an 'outperform' call on the stock with a target at Rs 2,100 per share. It says pick-up in growth is stronger than expected.

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CLSA on Tata Motors: The brokerage maintains a 'buy' call on the stock with a target at Rs 220 per share. It added that JLR has turned free cash flow positive in Q2 as retail volumes improve.

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CLSA on Marico: The brokerage maintains a 'buy' call on the stock with a target at Rs 350 per share after the Q2 business update. It added that management commentary suggests operations are returning to pre-COVID levels.

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CLSA on Sobha: The brokerage maintains 'outperform' call on the stock and raised the target to Rs 270 per share from Rs 252 earlier. It also sees a marginal increase in debt due to its dividend payment in Q2.

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