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Tata Steel, Ambuja Cement, Sun Pharma and more: Wednesday's top brokerage calls
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Tata Steel, Ambuja Cement, Sun Pharma and more: Wednesday's top brokerage calls
May 2, 2023 11:04 PM

Tata Steel | Morgan Stanley has maintained an 'equal-weight' rating on Tata Steel with a target of Rs 110 per share. It says that the company's standalone EBITDA was much stronger, led by both realisations and lower opex.

Ambuja Cement | Morgan Stanley has maintained an 'equal-weight' rating on Ambuja Cement, with a target of Rs 380 per share. It says the company's EBITDA was in-line with expectations and revenue was slightly better, offset by higher opex.

Tata Steel | CLSA has maintained an 'outperform' rating on Tata Steel with a target of Rs 125 per share. It says that the company's fourth quarter realisations were above estimates and net debt declined as well.

Tata Steel | JPMorgan has maintained an 'overweight' rating on Tata Steel with a target of Rs 150 per share. It says that the company's sharp improvement in EBITDA in its Indian business is a positive.

Ambuja Cement | CLSA has maintained an 'underperform' rating on Ambuja Cement with a target of Rs 395 per share. It says the

NTPC | Morgan Stanley has maintained an 'overweight' rating on NTPC with a target of Rs 198 per share. It says that NTPC continues to be the best way to play India's energy security and transition.

Sun Pharma | Nomura has maintained a 'buy' rating on Sun Pharma with a target of Rs 1,190 per share. It says the USFDA's decision to put the trial on hold indicates high concern on part of the agency.

Sun Pharma | Macquarie has maintained an 'outperform' rating on Sun Pharma with a target of Rs 1,275 per share. It says that the the deuruxolitinib trial pause for the 12 mg dose was a mild negative surprise as the molecule didn't show any side effects during the second and third clinical trials.

Home First Finance | Morgan Stanley has maintained an 'overweight' rating on Home First Finance with a target of Rs 900 per share. It says it is of the view that the 50 bps lending rate hike from April 1 should recoup interest spends.

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