Friday's top brokerage calls: Kotak Mahindra Bank, Sterlite Tech and more

SUMMARY

CLSA upgraded Kotak Bank to 'outperform' from 'underperform' and raised its target while it is also bullish on Sterlite Tech. Here's a look at the top brokerage calls for today:

By CNBCTV18.comJul 2, 2021 9:10:50 AM IST (Published)

CLSA on Kotak Mahindra Bank: The brokerage upgraded the stock to 'outperform' from 'underperform' and raised its target to Rs 1,900 from Rs 1,850 earlier. Incrementally, Kotak Mahindra Bank’s risk-reward is getting favourable, said CLSA.

CLSA on Sterlite Tech: The brokerage has a 'buy' call on the stock with the target at Rs 340 per share. It said that the firm's management detailed out acceleration strategy for digital networks post COVID-19.

CLSA on Pharma: As per the brokerage, a resurgence in COVID cases will be a boost for pharma companies selling treatment-linked drugs in FY22 but could be transient and taper off in FY23.

CLSA on Consumer Staples: The brokerage sees sharp gross margin pressure on consumer staples in Q1 as firms have passed on 30-50 percent of inflation. However, it said that the easing of supply-strained commodity prices in H1 will be an apt setting to further drive market share and gross margin.