Tuesday's top brokerage calls: UltraTech, Jindal Steel and L&T Infotech

SUMMARY

Earnings upgrade cycle for UltraTech Cement has likely come to an end for now, JP Morgan believes, whereas CLSA has initiated coverage on Jindal Steel & Power's stock with a 'buy' rating. Here are the top brokerage calls for the day:

By CNBCTV18.comOct 19, 2021 8:08:21 AM IST (Published)

JP Morgan on UltraTech Cement | Earnings upgrade cycle for UltraTech Cement has likely come to an end for now, the brokerage believes. JP Morgan expects cement price hikes to offset most of the cost pressure.

Jefferies on UltraTech Cement | The brokerage is of the view that the cement company's stock might remain range-bound until margin visibility improves.

CLSA on Jindal Steel & Power Ltd | The brokerage has initiated coverage on the stock with a 'buy' rating saying that the scrip is inexpensive compared to peers. Jindal Steel & Power Ltd is set to become India's fourth-largest steel company on the back of favourable macro-economic conditions, JP Morgan added.

Citi on Larsen & Toubro Infotech | The brokerage has raised its estimates for the company by 5 percent for FY22, by 3 percent for FY23 and by 2 percent for FY24. Citi noted that the company's EBIT margin improved on quarter despite higher attrition and supply-side challenges.