Monday's top brokerage calls: Biocon, UltraTech Cement and more

SUMMARY

Among brokerages, CLSA maintains a 'sell' call on Biocon and reduced its target price after Q3 earnings while it remained bullish on UltraTech Cement and raised its target on better than expected results. Here are the top brokerage calls for today:

By CNBCTV18.comJan 25, 2021 9:02:36 AM IST (Published)

CLSA on Biocon: The brokerage maintains a 'sell' call on the stock and has reduced its target price to Rs 240 per share from Rs 265 earlier. It also lowered its FY21-23 EPS estimates for the pharma firm by 8-12 percent after Q3 earnings.

CLSA on UltraTech Cement: The brokerage maintains 'outperform' call on the stock and has raised the target to Rs 6,230 per share from Rs 6,000 earlier. December quarter results were ahead of estimates but costs pressures loom on UltraTech, added the brokerage.

Morgan Stanley on UltraTech Cement: The brokerage maintains an 'outperform' call on the stock with a target at Rs 6,300 per share. It said that UltraTech’s Q3 results were better than expectations on all fronts.

CLSA on HDFC Life: The brokerage maintains an 'outperform' rating on the stock with a target at Rs 765 per share. It expects HDFC Life to deliver a 20 percent VNB compound annual growth rate over FY21-23.

CLSA on SBI Life: The brokerage maintains a 'buy' call on the stock as persistency improves back to FY20 level with a target at Rs 1,125 per share. The company's VNB margin rose 100 bps and is tracking ahead of expectations, it added.

CLSA on JSW Steel: The brokerage maintains a 'sell' call on the stock with a target at Rs 340 per share. It expects JSW Steel’s steel spreads in FY22 to be higher YoY but lower than the spot.

CLSA on NCC: The brokerage maintains a 'buy' call on the stock and has raised its target to Rs 80 per share from Rs 53 earlier. It also increased FY22-23 EPS for NCC as the company gets ready to focus on its competencies on a $493 billion opportunity.

Goldman Sachs on RIL: The brokerage maintains a 'buy' call on the stock with a target at Rs 2,390 per share. It expects core EBITDA growth of 59 percent YoY for the firm in FY22.

Credit Suisse on RIL: The brokerage is 'neutral' on the stock with a target at Rs 1,930 per share. Weak quarter across retail, O2C & Jio but good ramp-up in JioMart & fashion segment, it added.