These are Monday's biggest brokerage calls: Aurobindo Pharma, NTPC and more

SUMMARY

Indian indices are likely to open with a negative bias as rising concerns about the economic impact from the coronavirus epidemic in China has led to a downturn in global sentiment. The death toll the outbreak has surpassed that from the SARS epidemic, raising alarm bells about its severity. Among brokerages, CLSA raised the target price for Aurobindo Pharma, while Citi was bullish on Tata Steel and NTPC. Here are the top brokerage calls for Monday:

By CNBC-TV18Feb 10, 2020 8:20:52 AM IST (Published)

CLSA on Aurobindo Pharma: The brokerage had a 'buy' call on the stock but raised the target to Rs 670 per share from Rs 600 earlier. As per the brokerage, the company will continue to see opportunities to gain market share.

HSBC on Aurobindo Pharma: The brokerage had a 'buy' call on the stock but raised the target to Rs 660 per share from Rs 575 earlier. It added that outlook remains stable for US sales on the back of a strong pipeline.

Citi on NTPC: The brokerage had a 'buy' call on the stock with the target price at Rs 142 per share. The company remained the top pick in electric utilities for the brokerage.

Citi on Tata Steel: The brokerage had a 'buy' call on the stock with the target at Rs 550 per share. The brokerage is positive on the stock in the medium term.

Kotak on Tata Steel: The brokerage maintained 'buy' call on the stock with the target raised to Rs 1,550 per share from Rs 1,500 earlier.

HSBC on Dalmia Bharat: The brokerage reiterated 'buy' call on the stock with a target price at Rs 1,230 per share. It added that strong volume growth led by double-digit growth in East and North-East regions defied industry slowdown.

Citi on Dalmia Bharat: The brokerage had a 'buy' rating on the stock but cut its target price to Rs 1,275 per share from Rs 1,300 earlier.

CLSA on Abbott India: The brokerage had a 'buy' call on the stock and raised its target price to Rs 16,850 per share from Rs 15,810 earlier. It also raised the stock's EPS estimates by 2-3 percent.

CLSA on UPL: The brokerage raised FY20-22 EPS estimates for the stock by 2-9 percent and added that valuations are attractive at current levels.

Macquarie on Emami: The brokerage had an 'outperform' rating on the stock but cut its target to Rs 276 per share from Rs 381 earlier. It also cut FY19-22 earnings by 1-2 percent on lower revenue assumptions.

Macquarie on KEC International: The brokerage was 'neutral' on the stock and raised its target to Rs 347 per share from Rs 333 earlier. It added that the stock was fully valued at current valuations.

Kotak on ACC: The brokerage maintained a 'reduce' rating on the stock with the target price raised to Rs 1,550 per share from Rs 1,500 earlier. It added that the valuations are inexpensive but the company lacks upside triggers.

Nomura on ACC: The brokerage was 'neutral on the stock with the target at Rs 1,750 earlier. It added that the company was not fully geared to benefit from the demand pickup.