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Foreign brokerages raise target price for these 10 stocks; do you own any?

Kajaria Ceramics, HDFC Bank, Federal Bank, ACC and HUL are among 10 stocks in which foreign brokerages raised the target price.
Oct 22, 2020 / 01:46 PM IST
On October 21, in a highly volatile session, benchmark indices ended higher for the fourth consecutive session with Nifty above 11,900. Here are 10 stocks where foreign brokerages raised target price
On October 21, in a highly volatile session, benchmark indices ended higher for the fourth consecutive session with Nifty above 11,900. Here are 10 stocks where foreign brokerages raised target price
Research house CLSA maintained underperform call and raised target to Rs 1,750 from Rs 1,660 per share. It reported a healthy 2.9% QoQ revenue growth and there is a visible improvement in deal activity. The decision-making on larger-size deals remains stretched, while organic revenue CQGR over H2FY21 is broadly unchanged at 2-3.5%. CLSA raised its FY21/FY22 EPS estimates by 4% each, reported CNBC-TV18.
Research house CLSA maintained underperform call and raised target to Rs 1,750 from Rs 1,660 per share. It reported a healthy 2.9% QoQ revenue growth and there is a visible improvement in deal activity. The decision-making on larger-size deals remains stretched, while organic revenue CQGR over H2FY21 is broadly unchanged at 2-3.5%. CLSA raised its FY21/FY22 EPS estimates by 4% each, reported CNBC-TV18.
Jefferies has kept buy call on Kajaria Ceramics and raised target price to Rs 650 from Rs 550 per share. The Q2 was a beat to estimates with margin at 20.2%, while sales volume stable YoY & capacity utilisation at plus 90%. Research house raised FY21 EPS estimate by 4%. The medium-term catalysts would be solid brand, optimising mix and potential share gains. Jefferies retained company as one of its top midcap picks, reported CNBC-TV18.
Jefferies has kept buy call on Kajaria Ceramics and raised target price to Rs 650 from Rs 550 per share. The Q2 was a beat to estimates with margin at 20.2%, while sales volume stable YoY & capacity utilisation at plus 90%. Research house raised FY21 EPS estimate by 4%. The medium-term catalysts would be solid brand, optimising mix and potential share gains. Jefferies retained company as one of its top midcap picks, reported CNBC-TV18.
HUL share gains a key near-term priority as it reported in-line Q2 financials with 16% topline growth, said CLSA. The company is prioritising volume over margin in the near term, consider this an apt strategy to expand penetration across categories and it should be able to uptrade consumers & recoup any margin losses. CLSA has cut FY21-23 earnings estimates by 4-5% and continue to see company as a structural play in Indian FMCG. It has maintained buy call and target raised to Rs 2,600 from Rs 2,525 per share, reported CNBC-TV18.
HUL share gains a key near-term priority as it reported in-line Q2 financials with 16% topline growth, said CLSA. The company is prioritising volume over margin in the near term, consider this an apt strategy to expand penetration across categories and it should be able to uptrade consumers & recoup any margin losses. CLSA has cut FY21-23 earnings estimates by 4-5% and continue to see company as a structural play in Indian FMCG. It has maintained buy call and target raised to Rs 2,600 from Rs 2,525 per share, reported CNBC-TV18.
Heidelberg Cement India 
Jefferies maintained buy rating on ACC with target price increased to Rs 2,200 from Rs 1,900 per share. The company reported a sharp rise in Q3CY20 'purchases'. The cost efficiency remains a theme and makes company an exciting story, reported CNBC-TV18.
Brokerages firm CLSA has kept buy on HDFC Bank and raised target to Rs 1,525 from Rs 1,450 per share. According to the firm, the collections & new business trends strong, while asset quality commentary reassuring. It reduce credit cost estimate to 3% for FY21-FY22 from 3.2%, while increase PPoP estimate by 1-2% due to better fee income, reported CNBC-TV18.
Brokerages firm CLSA has kept buy on HDFC Bank and raised target to Rs 1,525 from Rs 1,450 per share. According to the firm, the collections & new business trends strong, while asset quality commentary reassuring. It reduce credit cost estimate to 3% for FY21-FY22 from 3.2%, while increase PPoP estimate by 1-2% due to better fee income, reported CNBC-TV18.
Dr Reddy
Haitong Securities has kept outperform call on Dr Reddy's Laboratories and increased target to Rs 6,450 per share. It has upgraded earnings by 16-31% for FY22-23. There is a strong visibility on US pipeline for next 2-3 years. There’s a higher profitability of the India business and Haitong Securities' blue sky scenario suggests 55%+ returns over next one year, reported CNBC-TV18.
Brokerage firm Citi has maintained buy call on Federal Bank and raised target to Rs 75 per share. The company reported strong operating performance, while provision buffer increases. The low cost of funds & high balacesheet liquidity should enable bank to grow. The conservative provisions should cushion future risks to P&L. Citi has raised FY21 profit estimate by 17% due to higher NIM, reported CNBC-TV18.
Brokerage firm Citi has maintained buy call on Federal Bank and raised target to Rs 75 per share. The company reported strong operating performance, while provision buffer increases. The low cost of funds & high balacesheet liquidity should enable bank to grow. The conservative provisions should cushion future risks to P&L. Citi has raised FY21 profit estimate by 17% due to higher NIM, reported CNBC-TV18.
The truck demand is on a steadily improving trajectory, said Jefferies. The manufacturing is recovering well while construction seems to be picking up too. Broking house see further upside to the stock as truck demand continues to revive. It has maintained buy call with target raised to Rs 100 from Rs 75 per share, reported CNBC-TV18.
The truck demand is on a steadily improving trajectory, said Jefferies. The manufacturing is recovering well while construction seems to be picking up too. Broking house see further upside to the stock as truck demand continues to revive. It has maintained buy call with target raised to Rs 100 from Rs 75 per share, reported CNBC-TV18.
Research house CLSA has kept outperform rating on Oberoi Realty and increased target price to Rs 440 from Rs 395 per share. The company planning platform deal with investors to unlock rental asset value. In residential segment, company targets to surpass FY20 presales in FY21, reported CNBC-TV18.
Research house CLSA has kept outperform rating on Oberoi Realty and increased target price to Rs 440 from Rs 395 per share. The company planning platform deal with investors to unlock rental asset value. In residential segment, company targets to surpass FY20 presales in FY21, reported CNBC-TV18.
HDFC Life | Jefferies has maintained buy call on HDFC Life and raised target to Rs 760 from Rs 730 per share. The company reported 21% YoY rise in VNB to Rs 550 crore, which was in-line with estimates. The rebound in premiums to 21% YoY has been impressive, while recovery in protection business slower than expected. Research house raises VNB estimates & see 17% CAGR in VNB over FY20-23, reported CNBC-TV18.
HDFC Life | Jefferies has maintained buy call on HDFC Life and raised target to Rs 760 from Rs 730 per share. The company reported 21% YoY rise in VNB to Rs 550 crore, which was in-line with estimates. The rebound in premiums to 21% YoY has been impressive, while recovery in protection business slower than expected. Research house raises VNB estimates & see 17% CAGR in VNB over FY20-23, reported CNBC-TV18.
Rakesh Patil
first published: Oct 22, 2020 01:46 pm

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