Wednesday's top brokerage calls: ICICI Bank, Asian Paints and more

SUMMARY

Among the top brokerage calls for the day, CLSA and Credit Suisse have maintained an 'Outperform' call on Asian Paints post March quarter earnings. Here are the other top brokerage calls for the day:

By CNBC-TV18Jun 24, 2020 8:21:56 AM IST (Published)

Jefferies on ICICI Bank: The brokerage said the bank offers a favorable risk-reward with receding asset quality risks; valuations attractive at current levels.

Morgan Stanley on Bank of Baroda: The brokerage is 'Underweight' on the bank as Q4 profit before tax was lower than estimates, given higher provisions.

Morgan Stanley on Avenue Supermarts: The brokerage expects Avenue Supermarts store count to rise 3.7x over the next 10 years and believes that the company will become more aggressive on store additions from FY22.

Jefferies on KEI Industries: Jefferies believes that a strong balance sheet will help the company manage a challenging FY21.

CLSA on Asian Paints: The brokerage has maintained an 'Outperform' rating on Asian Paints. It said that the diversified portfolio and strong brands will help the company gain market share.

Credit Suisse on Asian Paints: The brokerage has maintained an 'Outperform' rating on Asian Paints. It said that the company has the highest visibility of FY22 earnings within the consumer discretionary space.

Jefferies on Finolex Industries: The brokerage said that the company’s pipes segment margin improved to the highest level while the balance sheet remains strong.

CLSA on DB Corp: The brokerage maintained 'Buy' rating and cut the target price to Rs 120 from Rs 135 earlier.

Credit Suisse on Steel: The brokerage expects steel prices to be rangebound with limited downside risk.