Wednesday's top brokerage calls: Tata Motors, Info Edge and more

SUMMARY

Among brokerages, HSBC upgraded Tata Motors to 'buy' and raised its target price while CLSA downgraded Info Edge to 'outperform'. Here are the top brokerage calls for the day:

By CNBCTV18.comSept 9, 2020 8:47:26 AM IST (Published)

HSBC on Tata Motors: The brokerage upgraded the stock to 'buy' and raised the target price to Rs 200 from Rs 120 earlier. It also expects a reasonable reduction in the net debt of the firm over FY22 and FY23.

CLSA on Info Edge: The brokerage downgraded the stock to 'outperform' from 'buy' with a target at Rs 3,580 per share. The decline in billing for Q1 came in at 44 percent YoY versus CLSA’s estimate of a 38 percent decline.

Citi on Zee: Citi reiterated 'buy' rating on the stocks and raised the target to Rs 275 per share from Rs 240 earlier. News flow is likely to remain high in the coming weeks, said Citi, adding that increased disclosures are likely to prove a boon on the margin front.

CLSA on Dr Reddy's: The brokerage maintains an 'outperform' call on the stock with a target at Rs 4,550 per share. The company's transformation journey is going well and earnings momentum is likely to remain strong, it added.