Macquarie says Sun Pharma remains its preferred large-cap pharma pick, as it considers it best positioned to make the speciality transition which is essential for long-term growth.
We revert to an overweight on IT and pharma. Lower interest rates to benefit private banks and mortgage providers, says Neelkanth Mishra of Credit Suisse.
Credit Suisse has cut FY18-19 estimates by 6-8 percent and trimmed target price to Rs 680 from Rs 720 earlier on weak quarter. It has also reduced standalone estimates on demonetisation impact.
Speaking to CNBC-TV18 Neelkanth Mishra of Credit Suisse said that Donald Trump‘s victory has led to external readjustments in countries like Brazil and Indonesia.
Credit Suisse believes Great Britain pound depreciation will drive a multi-year outperformance for Jaguar Land Rover in a way similar to what happened with the Japanese yen for the Japanese stocks.
Most analysts are positive on ITC given sharp underperformance in past months on GST concerns. JP Morgan is overweight on ITC stating that some uncertainty will remain on the final taxation change for ITC. It adds earnings impact could be gauged only as clarity emerges on quantum and nature of cess on sin products.
Mindtree shares hit fresh 52-week low of Rs 452.10, down 5.6 percent intraday Monday. Analysts remained negative on the stock and slashed target price as numbers were quite disappointing, though it had already issued profit warning in September for second quarter.
Former Goldman Sachs banker Matthew Westerman, who took over as head of the Global Banking division in May, has made sweeping changes in the drive to steal market share in a business area where HSBC lags most of its major peers.
Fullerton India said it has priced the 37-month issue at fixed annual coupon of 8.12 percent.
Neelkanth Mishra of Credit Suisse says while the broader Indian market hasn't moved much in the last two months, it has continued to outperform global equities marginally.
According to Credit Suisse, the revised price of ethanol will result in approximately 5 percent reduction in the cost of spirit (45 percent of total raw materials consumed)
we cut our long-standing overweight on consumer staples and deepen our underweight on IT and healthcare. We stay overweight on discretionary but two-wheelers may hurt, says Neelkanth Mishra of Credit Suisse.
Credit Suisse' Neelkanth Mishra expects repo rate to fall to a decade low in the coming quarters. He says that beginning December the market may see a robust and widespread pick-up which may boost indices.
While we are sticking with our overweight in tech, we are suggesting a switch to banks for investors who want to take profit. One of the top picks from the CS regional portfolio is HCL Tech, says Sakthi Siva of Credit Suisse.
RBI is operating in an inflation targeting framework and they will decide on rate cuts with an eye on their 4-percent inflation target, says Jahangir Aziz, Asia Economic Research, JPMorgan.
With maintaining outperform rating on Hindustan Zinc, Credit Suisse says it has raised target price on the stock to Rs 270 (from Rs 225 earlier) after expected rise of 8-14 percent in earnings per share for FY17-19.
Vibhav Kapoor of IL&FS advises one to buy 10-15 percent of what they want and not completely go on a buying spree.
Underweight refers to a below-average chance of matching the performance of its peers, and hence investors should have less exposure to the stock in their portfolios.
According to the Credit Suisse Research Institute's bi-annual CS Gender 3000 report, the Asia-Pacific has shown significant progress in gender diversity and India has closed the gap with a global average of 14.7 percent.
With maintaining neutral rating on Glaxosmithkline Pharmaceutical, Credit Suisse slashed target price to Rs 2,850 as it continues to struggle with price control & supply constraints in some products. It also reduced FY17 earnings per share by 41 percent.
Credit Suisse has maintained its outperform rating on Larsen & Toubro on likely execution pick up, strong cash flows on peaking inventory, subsidiaries support and working capital with reasonable valuations. It has raised target price to Rs 1,925 (from Rs 1,825) per share and changed FY17-19 earnings per share by -1 percent to +2 percent.
Credit Suisse has compared price to book value with return on equities to arrive at the conclusion
Preferred play is HCL Technologies where there appear to be signs of RoE bottoming, she says, adding the brokerage house has an outperform rating on HCL Technologies.
Credit Suisse expects the Reserve Bank to cut rates by 25 basis points in December. However, the central bank's inflation target 4 percent looks difficult on a sustainable basis, says Asia Economist Deepali Bhargava.
Sakthi Siva of Credit Suisse, in a note today, said that she maintains an underweight stance and has an underperform ranking on India, Indonesia, Malaysia and Philippines. All four seem to be expensive according to Siva.