Thursday's top brokerage calls: Britannia, ONGC and more

SUMMARY

Among brokerages, Jefferies raised the target price for Britania post Q4 earnings, while CLSA retains a bearish view on ONGC. Here are the top brokerage calls for the day:

By CNBCTV18.comJun 4, 2020 9:36:31 AM IST (Updated)

CLSA on Vodafone Idea: The brokerage reiterates 'buy' call on the stock with a target at Rs 12 per share. Mobile ARPU to grow by 30 percent by FY22, it added.

CLSA on ONGC: The brokerage has a 'sell' call on the stock with a target at Rs 55 per share. Weak core outlook, expensive valuation, and share supply overhang, it said.

CLSA on Britannia: The brokerage downgraded the stock to 'outperform' from 'buy' but raised its target to Rs 3,900 per share from Rs 3,700 earlier. Earnings momentum to sustain, said the brokerage, adding that valuations offer limited room for upside.

Jefferies on Britannia: The brokerage maintains 'hold' call on the stock but raised target to Rs 3,450 per share from Rs 2,800 earlier. Over 20 percent growth in April/May puts the company in the best position during Q1, it said.

Jefferies on HDFC: The brokerage has a 'buy call on HDFC with target raised to Rs 2,110 from Rs 2,000 earlier. Steady exit from lockdown should support the business of lenders, it said.

Edelweiss Securities on JSPL: The brokerage maintains a 'buy' call on the stock with target raised to Rs 155 per share from Rs 135 earlier.

Credit Suisse on Aurobindo: The brokerage has a 'neutral' call on the stock with a target ta Rs 665 per share. A sharp increase in expenses offset the benefit from the gross margin, it said.

Credit Suisse on BPCL: The brokerage has a 'neutral' call on the stock with a target at Rs 305 per share Good margin but a sharp increase in debt in Q4, noted the brokerage.