Tuesday's top brokerage calls: HDFC and Tata Motors

SUMMARY

CLSA downgraded its rating on the shares of HDFC to 'outperform' while Macquarie says loan growth is picking up and non-individual book growth will improve further for the company. Here are top brokerage calls for the day:

By CNBCTV18.comNov 2, 2021 8:41:55 AM IST (Published)

CLSA on HDFC | The brokerage sees the stock valuation close to fair levels which prompted it to downgrade its rating on the shares of HDFC to 'outperform'. CLSA pointed out that HDFC reported strong growth but best of margin is behind us.

Jefferies on Tata Motors | The brokerage believes demand recovery, market share gains and better margin should continue to help India business. Jefferies has a 'buy' call on the stock.

Morgan Stanley on HDFC | The brokerage has retained its 'overweight' stance on the stock and has raised its target price due to higher subsidiary valuations. However, Morgan Stanley has trimmed its forecasts.

Macquarie on HDFC | Asset quality position remains very strong, Macquarie noted maintaining its 'outperform' call on HDFC's stock. Loan growth is picking up and non-individual book growth will improve further, the brokerage believes.