Broker Radar for January 7

Check out the stock commentaries and recommendations from brokerage houses.

Jan 07, 2020 03:01 IST India Infoline News Service

JPMorgan maintained ‘Neutral’ on Crompton Greaves Consumer with a TP of Rs270.
  • Lighting: revenue challenges persist; profitability improvement in focus.
  • Fans: premiumisation and market share gain led growth strategy in place; new energy rating norms to aid.
  • Looking for strategic M&A opportunities at reasonable valuations.
BofAML maintained ‘Buy’ on Reliance Industries with a TP of Rs1,700.
  • Jio-Mart is RIL’s first phase of new commerce initiative.
  • Jio-Mart provides end-to-end offering, but not without challenges.
  • New commerce still a 2-3-year project; core retail strong.
HSBC on India Infrastructure:
  • The government task force identifies $1.4 trillion in spending and reforms over the next five years.
  • The report cannot solve execution-related problems, but having a plan is a step in the right direction.
  • L&T appears best positioned to benefit from NIP drive for infrastructure investment.
  • L&T: Maintained ‘Buy’ with a price target of Rs 1,790. 
  • ABB India: Maintained ‘Hold’; cut price target to Rs 1,125 from Rs 1,411.
Source: Media reports

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