Thursday's top brokerage calls: Maruti Suzuki, Eicher Motors, AU Small Finance Bank and more

SUMMARY

Macquarie has maintained its 'outperform' call on Titan and is 'neutral' on Maruti. Nomura has retained a 'reduce' rating on Eicher Motors saying Royal Enfield's monthly run rate misses its estimates. Here are the top brokerage calls for the day:

By CNBCTV18.comSept 2, 2021 8:58:33 AM IST (Updated)

Nomura on AU Small Finance Bank: The brokerage has maintained a 'neutral' call on the stock with a target price of Rs 1,200. The 10-15 percent fall in the stock price highlights a much larger concern, said Nomura. The brokerage also said it prefers not to dwell much into the recent exits from the company as they appear to be largely business as usual.

Nomura on Eicher: The brokerage has retained a 'reduce' rating on the stock with a target price of Rs 2,374. Royal Enfield's monthly run rate of 43,000 units so far in FY22 is below Nomura's estimate of 60,000. Higher pricing for the new Royal Enfield model may impact sales, according to the brokerage.

Macquarie on Titan: The brokerage has maintained an 'outperform' rating on the stock with a target price of Rs 2,150. Macquarie has maintained its FY23-FY24 EPS estimates on Titan and said the company's building blocks are in place to drive up regulatory compliance.

Macquarie on Maruti: The brokerage has retained a 'neutral' rating on the stock with a target price of Rs 6800. Macquarie sees a 7-19 percent downside to its FY22 volume estimate. The timing and intensity of a recovery in semiconductor supply is key, according to the brokerage.

Citi on AU Small Finance Bank: The brokerage has maintained a 'buy' call on the stock with a target price of Rs 1,500. Citi is positive on the small finance bank's long growth runway, and improving business environment. AU SFB's asset quality trends also look positive with gradual expansion in the net interest margin, according to Citi.