Tuesday's top brokerage calls: TCS and Dr Reddy's

SUMMARY

Among brokerages, Credit Suisse and Macquarie have an 'outperform' rating on TCS after the country's largest software services exporter reported its March quarter numbers. Meanwhile, Citi and Bernstein are bullish on Dr Reddy's after India approved Sputnik V for COVID-19. Here are the top brokerage calls for the day:

By Pranati Deva Apr 13, 2021 9:29:42 AM IST (Updated)

Credit Suisse on TCS: The brokerage has an 'outperform' call on the stock with a target at Rs 3,750 per share. The brokerage maintains FY22/23 estimates for the firm on the back of largely in-line performance in the March quarter.

Macquarie on TCS: The brokerage has an 'outperform' call on the stock with a target at Rs 3,640 per share. It added that the firm is on track for double-digit growth in FY22 and is well-positioned from 3 key spending themes.

Citi on TCS: The brokerage maintains a 'sell' call on the stock but raised the target to Rs 2,935 per share from Rs 2,870 earlier. It continues to prefer Infosys over TCS.

Bernstein on Dr Reddy's: The brokerage maintains an 'outperform' call on the stock with a target at Rs 5,225 per share.

JPMorgan on Dr Reddy's: The brokerage maintains a 'neutral' call on the stock with a target at Rs 4,850 per share. Sputnik V supplies will increase Dr Reddy’s FY22 EBITDA by 10 percent, it added.

Citi on Dr Reddy's: The brokerage has a 'buy' call on the stock with a target at Rs 5,400 per share. Sputnik V can be a $200 m EBITDA opportunity in the bull case, Citi said.