Top brokerage calls for June 7: CLSA prefers banks over NBFCs; HSBC downgrades SpiceJet

SUMMARY

Indian shares are likely to open little changed on Friday, tracking flat trades in global markets and after the Reserve Bank of India’s monetary policy decision. The stock market saw its biggest one-day fall in 2019 in the previous session with the BSE Sensex falling 554 points to close at 39,530 and Nifty50 down 180 points to 11,844. Among brokerages, HSBC downgraded SpiceJet to 'reduce' and maintained 'hold' on IndiGo, while raising their 12-month target price. Citi was bullish on CESC and Nomura maintained 'buy' on Apollo Tyres. Here are other top brokerage call for today

By CNBC-TV18Jun 7, 2019 8:30:09 AM IST (Updated)

HSBC on Indigo and SpiceJet: The brokerage has downgraded SpiceJet to 'reduce' and maintained 'hold' on IndiGo, while raising the 12-month target price for the stocks.

Citi on CESC: The brokerage gave a 'buy' rating to the stock and raised the target price to Rs 891 per share from Rs 871 earlier..

CLSA on Q4 earnings: The brokerage expects a 23 percent earnings growth for Nifty in FY20. Of the 130 results in their coverage 54 percent were below expectations, 12 percent in-line, and 35 percent above estimates.

CLSA on Financials: The brokerage prefers banks over NBFCs, with ICICI Bank, HDFC, and ICICI Lombard as its top picks.

Nomura on Apollo Tyres: The brokerage maintained a 'buy' rating for the stock with a target at Rs 247 per share.

CLSA on Telecom: The brokerage believes 5G is a long-term promise with limited near-term benefits and prefers deferring 5G spectrum purchase. The brokerage has a 'buy' only on Bharti Airtel among telecom stocks.