Indian benchmark indices are likely to open flat on Friday, following subdued Asian peers, as investors looked for fresh triggers. Stock-specific action will continue amid Q4 earnings season. On Thursday, the indices failed to hold 11,750 level and ended marginally lower in lacklustre trade. The Sensex ended 35.78 points down at 39,031.55, while Nifty closed 6.50 points lower at 11,748.20.

Share Market Live

NSE

Among brokerages, Credit Suisse maintained "outperform" on Dabur but cut its target to Rs 460, meanwhile, Macquarie was "neutral" on the stock and raised its target to Rs 430. For Britannia, Credit Suisse had an "outperform" rating while Macquarie rated "underperform". Credit Suisse had also downgraded L&T Finance to "underperform" and cut its target to Rs 110. Deutsche Bank also cut MRF's target to Rs 55,000.

Here are top brokerage calls for today:

Credit Suisse on Dabur

- Maintain "outperform", target cut to Rs 460 from Rs 500 per share

- Weak quarter further marred by one-offs

- Cut FY20/FY21 earnings estimate by 8-9 percent

- Volume growth of 4.3 percent marked a sharp slowdown from Q3 and Q2

- Sharp drop in margin largely from ESOP charges and international business

Macquarie on Dabur

- "Neutral" call, target raised to Rs 430 from Rs 421 per share

- Like aggressiveness on market share, but it leads to near-term margin pressure

- Remain concerned on higher competition in foods and oral care

- Cut FY20/21 EPS estimates by 10-11 percent

- Management has guided for high single-digit volume growth in FY20

- Margin impacted by higher ESOP cost and other expenditure

Macquarie on Britannia

- "Underperform" rating, target raised to Rs 2,473 from Rs 2,104 per share

- Cut FY20/21 EBITDA by 1 percent

- Raise FY20/21 earnings by 3-4 percent on higher other income assumptions

- Street expectation of 21 percent earnings CAGR in FY19-21 is too ambitious

- Nielsen numbers shows market share loss for Parle

- We are 7-12 percent below consensus earnings for FY20/21

Credit Suisse on Britannia

- Maintain "outperform", target cut to Rs 3,250 from Rs 3,400 per share

- EBITDA growth moderating due to the macro slowdown

- Volumes up 7 percent YoY, continuing the slowdown in a trend seen in Q3

- Biscuit market growth has slowed down by 500 bps in the past two quarters

- Cut FY20/21 EPS estimate by 6-8 percent

- Build in lower margin expansion and slower growth

Credit Suisse on L&T Fin

- Downgrade to "underperform", target cut to Rs 110 from Rs 125 per share

- Acceleration in developer loans concerning in current turbulent times

- Increasing developer exposure has aided profitability

- Stress exposures like IL&FS and Essel are yet to be recognised

- Cut FY20-21 EPS estimate by 6-9 percent

Deutsche Bank on MRF

- "Hold" rating, target cut to Rs 55,000 from Rs 62,000 per share

- Margin trajectory continues to disappoint

- Tyre companies could face margin headwinds unless pricing improves

- Cut FY19-21 EPS estimates by 4-11 percent

> 10 things you need to know before the opening bell on May 3

> Top stocks to watch out for on May 3: Wipro, Tata Motors, Bharti Airtel