Friday's top brokerage calls: HDFC, Reliance Industries and more

SUMMARY

Among brokerages, Macquarie and CLSA have 'outperform' call on HDFC post its June quarter earnings while Goldman Sachs remained bullish on Reliance Industries after its Q1 results. Here are the top brokerage calls for the day:

By CNBCTV18.comJul 31, 2020 9:03:37 AM IST (Published)

Macquarie on HDFC: The brokerage has an 'outperform' rating on the stock with the target at Rs 2,095 per share. It said that the lender had a decent show in a tough quarter and excess provisions can cushion against future losses.

CLSA on HDFC: The brokerage maintained an 'outperform' rating with a target at 2,100 per share and said that the valuation is reasonable at current levels.

Goldman Sachs on RIL: As per GS, the company posted a strong relative outperformance versus peers in a subdued quarter. Weaker energy was offset by stronger than expected retail performance, it added.

Citi on Dabur: The brokerage maintained a 'buy' call on the stock with a target at Rs 495 per share. In the pecking order, it put the company below names like Britannia, Godrej Consumer, and Marico.

CLSA on Dabur: The brokerage has a 'buy' rating on the stock with target raised to Rs 590 per share from Rs 565 earlier. It said that the company reported an in-line Q1 with domestic sales decline arrested at 7 percent.

CLSA on Torrent Pharma: The brokerage maintained a 'buy' call on the stock with the target raised to Rs 3,100 from Rs 2,920. The company's profit was 48 percent ahead of estimates driven by a margin surprise, it said.

CLSA on Max Financial: The brokerage reiterated 'outperform' call on the stock with a target at Rs 640 per share. A regulatory nod of Axis Bank deal can drive a rerating, it added.