Indian benchmark indices closed on a very strong note on Tuesday, and a similar rally is expected today. Asian shares got off to a subdued start on Wednesday after a mixed finish on Wall Street, while a frazzled pound awaited its fate ahead of yet another make-or-break parliamentary vote on Brexit.

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On Tuesday, the 30-share BSE Sensex closed at 37,535.66 up by 481.56 points while Nifty closed at 11,301.20 up by 133.20 points. BSE smallcap index gained 1 percent.

In brokerage calls today, Citi Research maintained a "neutral" rating for Kotak Mahindra Bank with the target price at Rs 1,340 per share. Citi Research raised a "buy" target for Maruti Suzuki at Rs 8,300 per share from Rs 7,600 per share. Credit Suisse maintained "neutral" on Pidilite Industries and raised its target from Rs 950 per share to Rs 1,125 per share.

Here are the top brokerage calls for today:

HSBC on Ramco Cements

- Initiates reduce, target at Rs 540 per share- Producers in South India will struggle to raise prices

- Rs 2,690 crore capex programme to raise capacity

- Reverses DCF with 21% EBITDA CAGR in 11 Years to FY30E

- Forecast EBITDA to rise at a CAGR of 15% in FY20-23E

Citi Research on Kotak Mahindra Bank

- Neutral rating, target at Rs 1,340 per share- The court refuses interim relief, case adjourned till April 1

- Reports say that RBI’s autonomy could be undermined if the court rules against RBI

Citi Research on Maruti Suzuki

- Call rating, target raised to Rs 8,300 from Rs 7,600 per share- Cuts EPS estimates by 5-7 percent over FY19-21

- Expect a slight volume pick-up post elections and into the festive season

- Earnings downgrades could trough over FY20

Citi Research on Dilip Buildcon

- Call rating, target raised to Rs 761 from Rs 725 per share- Incremental awards are not expected until the elections conclude

- The company's backlog remains healthy, expect further improvement in the balance sheet

- Management expects significant order wins in H2FY20

Citi Research on Tata Power

- Neutral rating, target at Rs 77 per share- Recent coal-mining performance has been weak and the stock appears expensive for sub-par return ratios

- Domestic Market Obligation has been hurting Tata Power's mining numbers

Credit Suisse on Pidilite Industries

- Neutral rating, target raised to Rs 1,125 from Rs 950 per share- Strong outlook for FY20 as margin pressures are behind.

-FY19 earnings estimates are lowered by 5% but raised FY20/FY21 by 2%

- FY19-21 earnings will grow at a CAGR of 20% v/s past 3-year CAGR of 7%

- Valuations remain stretched and there's limited upside

Credit Suisse on Indian markets- As vegetable inflation normalizes, CPI heads to 3% as expected

- MPC projections may need cuts again. There is still downside risk to MPC's target of 2.8% for Q4

- H1FY20 estimates of 3.2-3.4% are realistic

- As the economy slows due to financial system stress, core May also weaken

Citi Research on Macros

- Headline CPI bottoms out at 2.57%YoY in Feb

- Food inflation momentum reverses fuel and transport CPI remains a drag

- Core moderates despite sticky health and education CPI

- February CPI affirms 25 bps April rate cut but thwarts a deeper action

- See 30-40 bps downside risk to RBI’s CPI forecast of 2.8% in Q4 and 3.2% in Q1FY20