Monday's top brokerage calls: Avenue Supermarts, Tech Mahindra and more

SUMMARY

Brokerages are mixed on Avenue Supermarts after its Q1 results. While Jefferies has an 'underperform call', Goldman Sachs has a 'buy' rating. Further CLSA is bullish on Tech Mahindra and Investec also has a 'buy' call on Equitas Holding. Here are the top brokerage calls for today.

By CNBCTV18.COMJul 12, 2021 8:39:08 AM IST (Updated)

Jefferies on Avenue Supermarts: The brokerage has an 'underperform' call on the stock with a target at Rs 2,300 per share. It said that it was surprised negatively with a 22-quarter low gross margin of 12.4 percent.

Goldman Sachs on Avenue Supermarts: The brokerage has a 'buy' call on the stock with a target at Rs 3,690 per share. However, it lowers FY22 EPS estimates by 7.9 percent to reflect a lower margin in Q1.

Citi on Avenue Supermarts: The brokerage has a 'sell' call on the stock with a target at Rs 2,210 per share. It cut estimates by another 8 percent for FY22.

CLSA on Tech Mahindra: The brokerage has a 'buy' call on the stock with a target at Rs 1,300 per share. It estimates restructuring legacy acquisitions to provide 70-80 bps margin leverage over the medium term for the firm.

Investec on Equitas Holding: The brokerage has a 'buy' call on the stock with a target at Rs 170 per share after the RBI approved SFBs to apply for a reverse merger.