Thursday's top brokerage calls: Tech Mahindra, L&T, Voltas and IEX

SUMMARY

UBS has downgraded its rating on shares of Indian Energy Exchange while Goldman Sachs sees limited room for upside for Voltas. Here are today's top brokerage calls:

By CNBCTV18.comDec 2, 2021 8:51:39 AM IST (Updated)

Jefferies on Tech Mahindra | Remote working has improved ESG metrics materially for Tech Mahindra, says Jefferies, maintaining its 'buy' recommendation on the stock.

Jefferies on L&T | Larsen & Toubro is on track for re-rating, especially with the recovery in capital expenditure, Jefferies said. Any ESG rating upgrade would be an added sweetener, added Jefferies.

Goldman Sachs on Voltas | The brokerage said it remains 'neutral' on the company's stock as it sees limited room to surprise on the upside. Goldman Sachs has raised numbers slightly given the benefit of price growth in air conditioners.

UBS on IEX | The brokerage has downgraded its rating on shares of Indian Energy Exchange to 'sell'. UBS sees risk to multiple contraction due to expensive valuations. It likes the company's structural long-term thesis but there is a risk to near-term earnings.