Updated: 2020-12-15 08:45:51
Among brokers, HSBC downgraded IndiGo to “reduce” from “hold” but raised its target while maintaining an optimistic view of Spicejet. Macquarie is also “neutral” about Tata Motors, as JLR faces multiple challenges, a newly pushed Chinese business. Here are the main brokerage calls today:
HSBC Aviation: The brokerage reduced IndiGo to “reduce” from “hold” but raised its target to 1,490 rupees per share from 1,290 rupees previously. Meanwhile, it supported a “purchase” of SpiceJet and raised its target to Rs 125 from Rs 80.
Machinery for Tata Motors: The brokerage maintains a “neutral” call on the stock with a target of Rs 174 per share. The Indian PV trading company has gained market share and has seen its PV margin improve, the brokerage noted.
HSBC on Indian Hotels: The brokerage kept a “buy” call on the stock and raised its target price to Rs 151 from Rs 120.50 previously. Seasonal recovery of demand and recovery in banquet business should increase profitability, it added.
Investing in JSPL: The brokerage maintains a “buy” call on the stock with a target of 341 rupees per share. It is constructive during the steel cycle and sees an upside risk to its FY21 / 22 ratings for JSPL.
Credit Suisse on Amber and Dixon Tech: Phase manufacturing program and PLIs give a strong impetus to both forms, the brokerage said. It reiterated a positive view of both companies.
MOSL about GAIL: The brokerage has an estimate of “purchase” on the stock with a target of 154 rupees per share. Changing macros, if continued, could result in a revenue / target upgrade, it added.