Tuesday's top brokerage calls: Paytm, Infosys, UltraTech and more

SUMMARY

Brokerage Radar: While JP Morgan maintains an 'overweight' recommendation on Paytm shares, the brokerage firm has as 'underweight' rating on the IT sector with an 'overweight' rating on Infosys, Mphasis, Tech Mahindra and Persistent Systems. Here are the top brokerage calls for today -

By CNBCTV18.comJun 7, 2022 8:16:02 AM IST (Updated)

JP Morgan on Paytm The brokerage firm said that the reduction in Adjusted EBITDA loss with better cost controls are the key stock drivers for Paytm. JP Morgan has maintained its 'overweight' rating on shares of Paytm with a cut in target price to Rs 1,000 from Rs 1,200.

Jefferies on Cement sector The brokerage firm noted that the risk of downgrades in earnings estimates has resurfaced. Multiple markets declined due to weak demand and the smallest decline was seen in the western region and the largest in the central region, said Jefferies.

CLSA on Cement | The brokerage firm said that the sector is on the cusp of another round of consolidation and believes that the risk-reward ratio for UltraTech Cement is the most attractive. CLSA sees full impact of cost inflation to be reflected in earnings in the first half of FY23.

JP Morgan on IT sector | While the brokerage firm has an 'underweight' rating on the IT sector, it maintains an 'overweight' stance on Infosys, Mphasis, Tech Mahindra and Persistent Systems. According to JP Morgan, descriptions of demand and pipeline has changed from superlative to positive.