Indian benchmark indices are likely to open on a flat note on Tuesday, in-line with Asian peers, as rising crude oil prices weighed on the markets. The market started off the futures and options (F&O) expiry week on a negative note with the Nifty closing tad below 11,600 levels. The BSE Sensex fell 495.10 points to close at 38,645.18 while the Nifty 50 plunged 158.30 points to settle at 11,594.50.

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Among brokerages, Deutsche Bank remained bullish on the cement stocks, with ACC and Shree Cements as its top picks. Macquarie gave an 'outperform' call on Zee Enterprises. Nomura was 'neutral' on AU Small Finance Bank and Cummins India.

Here are the top brokerage calls for Tuesday:

Deutsche Bank on Cement

- Pricing remains strong; raising earnings per share (EPS) estimates and target prices

- Raise FY20 EPS estimate for our coverage companies by 3-14 percent

- Raise all-India pricing growth assumption to 6 percent YoY from 4 percent for FY20

- ACC and Shree Cement are top picks in the sector

- "Buy" call on ACC, target raised to Rs 1,830 from Rs 1,790 per share

- "Buy" call on Shree Cement, target raised to Rs 21,600 from Rs 19,330 per share

- "Buy" call on Ambuja, target raised to Rs 235 from Rs 230 per share

- "Buy" call on Ultratech, target raised to Rs 4,575 from Rs 4,240 per share

- "Buy" call on Ramco, target raised to Rs 790 from Rs 785 per share

Macquarie on Zee Ent

- "Outperform" call, target at Rs 540 per share

- Announcement on the stake sale promoters is imminent

- According to the chairman, it is likely in the next 1-2 weeks

- Presence of five suitors, mostly global, reaffirms interest at current valuations

- Value, retention of the current management team and fund infusion in Zee key monitorables

Nomura on AU Small Fin

- Maintain a "neutral" call, target at Rs 590 per share

- Return on asset (RoA) expansion and cost-income ratio improvement will be more gradual

- Building in RoAs of 1.6 percent and cost-income ratio of 53 percent for FY22

- Assets under managemnet growth still strong but vehicle disbursements moderated

Nomura on Cummins

- Maintain a "neutral" call, target at Rs 765 per share

- Cost headwinds to impact margin

- Slowing infra orders may result in weaker domestic growth in FY20

- More pricing pressure evident in India compared with global peers

- Revival of infra awarding is a key upside risk

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