Friday's top brokerage calls: M&M, Piramal Enterprises and more

SUMMARY

Jefferies has raised its sales estimates for Macrotech by 7-10 percent for FY23-24, while Nomura sees Mahindra XUV700 driving volume recovery for M&M. Here are the top brokerage calls for the day:

By CNBCTV18.comOct 8, 2021 8:38:43 AM IST (Published)

Nomura on Mahindra & Mahindra | Mahindra XUV700 will drive volume recovery for M&M, according to Nomura. The brokerage believes Mahindra XUV700 can help M&M regain significant market share in the medium term.

CLSA on Piramal Enterprises | The brokerage has maintained its 'outperform' rating on Piramal Enterprises and noted that the company believes both businesses are adequately capitalised for organic and inorganic growth opportunities.

Nomura on Life Insurance | The brokerage remains positive on the growth prospects of life insurance companies. Nomura prefers SBI Life Insurance Co as its margin levers remain the strongest and as the current valuation is undemanding.

Jefferies on Macrotech | The brokerage has raised its sales estimates for FY23-24 by 7-10 percent after Q2 sales more than doubled on-quarter, hinting at a strong housing market.