These are Thursday's biggest brokerage calls: Phoenix Mills, HDFC Bank and more

SUMMARY

Indian equity markets are likely to open with a negative bias even as Asian shares gained as another dose of central bank stimulus offered some salve for the global economic outlook amid coronavrius fears. The SGX Nifty was trading 35 points lower suggesting a negative start for the Indian Indices. Among brokerages, Citi was bullish on HDFC Bank while HSBC raised the target price for Phoenix Mills. Here are the top brokerage calls for the day:

By CNBC-TV18Mar 5, 2020 8:15:06 AM IST (Published)

HSBC on Phoenix Mills: The brokerage maintained a 'buy' call on the stock and raised its target price to Rs 1,110 from Rs 1,000 earlier. The brokerage expects significant renewals over the next three years.

Citi on HDFC Bank: The brokerage had a 'buy' call on the stock with a target at Rs 1,600 per share. Market share gains will drive growth as asset quality of the company remains stable, the brokerage noted.

HSBC on Cement stocks: The brokerage retained a 'buy' call on Dalmia Bhara, ACC, and Ambuja Cements. It had a 'reduce' call on UltraTech Cement and Shree Cement.

HSBC on Apollo Hospitals: The brokerage maintained a 'buy' call on the stock with the target price at Rs 1,875 per share. HSBC noted that the impact of the fast-spreading COVID-19 on the hospital chain was uncertain, but its core business was on the right path.

Credit Suisse on L&T: The brokerage was 'neutral' on the stock with the target price cut to Rs 1,325 per share from Rs 1,460. Credit Suisse added that the company's growth levers were weak and growth assumptions would face challenges.