Tuesday's top brokerage calls: Voltas, PVR and UPL

SUMMARY

Brokerage Radar: CLSA says buy UPL and PVR shares while Citi has also maintained its 'buy' call on Voltas stock. Here are top brokerage calls for this morning -

By CNBCTV18.comMay 10, 2022 9:02:29 AM IST (Published)

CLSA on Voltas | The brokerage firm has cut earnings before interest, tax, depreciation and amortisation (EBITDA) estimates for Voltas by 2-6 percent owing to lower-than-expected earnings in the fourth quarter of FY22. CLSA has a 'sell' rating on shares of Voltas.

Citi on Voltas | The company continues to maintain its leadership position in the air conditioning business, Citi noted. Joint venture Voltbek's market share also continues to inch up, the brokerage firm said while maintaining its 'buy' call on the stock.

CLSA on PVR | With the company reporting quarterly numbers ahead of estimates, CLSA has upgraded its revenue and EBITDA estimate by 1-2 percent for FY23-24.

CLSA on UPL | CLSA believes that debt reduction and transition to differentiated products are key for re-rating UPL's stock. The brokerage firm has retained its 'buy' recommendation on the stock.