Wednesday's top brokerage calls: Reliance Industries, IndusInd Bank, Tata Motors, and Dr Reddy's

SUMMARY

While CLSA maintains 'buy' rating on the shares of Indusind Bank with a target price of Rs 1,060, MS maintains 'overweight' rating on the shares of Dr Reddy's with a target price of Rs 5,099. Here are the top brokerage calls for today -

By CNBCTV18.comJun 22, 2022 8:50:45 AM IST (Updated)

CLSA on Indusind Bank | CLSA maintains a 'buy' rating on the shares of IndusInd Bank with a target price of Rs 1,060. The brokerage house says that the asset quality worries are behind and credit costs will begin to normalise from FY23.

CLSA on Tata Motors | CLSA says that the debt for the company is likely to come down as free cashflow improves. Chip shortage and supply chain bottlenecks will likely to continue in CY22 according to CLSA.

Jefferies on Reliance Industries | Jefferies says that the company could deliver 60 percent sequential growth in order to cash (O2C) EBITDA in Q1FY23. It adds that earnings upgrade is likely.

MS on Dr. Reddy's Laboratories| MS maintains 'overweight' rating on the shares of Dr Reddy's with a target price of Rs 5,099. It says that future business could potentially contribute 15 percent of total sales by 2027.