Monday's top brokerage calls: Vedanta, ITC and more

SUMMARY

Among brokerages, Citi and CLSA cut target price for Vedanta while maintaining bullish calls after its delisting offer fails. Meanwhile, Hindalco is Jefferies' top pick in the metal space followed by Tata Here are the top brokerage calls for today:

By CNBCTV18.comOct 12, 2020 8:25:03 AM IST (Updated)

Citi on Vedanta: The brokerage maintains a 'buy' call on the stock but cur target price to Rs 130 per share from Rs 150 earlier after the delisting offer fails. It also cut the company's FY21-23 EBITDA estimates by 1-4 percent.

CLSA on Vedanta: The brokerage maintains an 'outperform' call on the stock with a target cut to Rs 118 per share from Rs 133 earlier. It expects the stock to react negatively in the near term after delisting failed.

Jefferies on Metals: There is a multitude of reasons to be positive on Indian metal stocks, said the brokerage. Hindalco is its top pick in the metal space followed by Tata Steel.

CLSA on ITC: The brokerage upgrades the company to 'buy' with a target at Rs 220 per share. It believes long-term positives for ITC unfolding as revenue diversifies, the FMCG segment is set to become a major value driver.

CLSA on Motherson Sumi: The brokerage maintains' outperform' call on the stock and raised the target to Rs 130 per share from Rs 120 earlier. Samvardhana Motherson International’s (SAMIL) businesses could scale up post the merger with the firm, it added.

Jefferies on Real Estate: As per the brokerage, residential sales recovery has likely preceded execution recovery in Q2. Lease income from offices is likely stable QoQ, retail & hotels have struggled to recover, it added.