Tuesday's top brokerage calls: Tech Mahindra, RIL and more

SUMMARY

Among brokerages, Goldman Sachs raised RIL's target price to Rs 2,325 while maintaining a 'buy' call. Meanwhile, Citi and CLSA remain bullish on Tech Mahindra after its Q1 earnings. Here are the top brokerage calls for the day:

By CNBCTV18.comJul 28, 2020 9:05:07 AM IST (Published)

Goldman Sachs on RIL: The brokerage reiterated 'buy' call on the stock with a target at Rs 2,325. Raising the valuation on faster e-commerce roll-out and monetisation at Jio Platforms, it said.

Citi on Tech Mahindra: The brokerage maintained a 'buy' call on the stock with a target at Rs 800 per share. It said the company's supply-side issues improved; contributed to one-fourth of decline QoQ.

Goldman Sachs on Tech Mahindra: The brokerage maintained a 'buy' call on the stock with a target at Rs 763 per share. It raised EPS estimates by up to 8 percent on improving growth trajectory.

CLSA on Tech Mahindra: The brokerage maintained a 'buy' call on the stock with a target at Rs 700 per share. It said Q1 earnings were good but not great; low revenue growth visibility could constrain stock’s incremental moves.

Morgan Stanley on Bharti Infratel: The brokerage maintained an 'underweight' call on the stock with a target at Rs 175 per share. MS said that Bharti Infratel’s gross tenancy additions were lower due to the pandemic with continued tenancy churn.

Jefferies on Bharti Infratel: The brokerage maintained an 'underperform' call on the stock with a target at Rs 160 per share. Q1 was disappointing with revenues, EBITDA and profits missing estimates, said the brokerage, adding that it cut estimates by 2-3 percent.

Nomura on Kotak Bank: The brokerage has a 'neutral' call on the stock with a target at Rs 1,375 per share. It said strong capital position & prudent underwriting helped deliver superior return ratios.