Good morning!The domestic stock market on Friday showed early signs of a possible breakout from its consolidation range.
And Nifty futures on Singapore traded 12 points lower this morning, signalling a tepid start for Dalal Street.As you head for the days trade, here is a compilation of overnight analyst calls on various stocks.
Motilal Securities has maintained its buy call on L-T Infotech with a target price of Rs 2,260.
The brokerage has said that robust growth in the top accounts of L-T Infotech alleviates concerns around client-specific issues.
Further, the strong client addition across buckets and new deal wins are likely to translate into industry leading growth.
Also, L-T Infotech will continue to be a growth company with a focus on S-M investments as there is further headroom in improving the operating leverage through high growth.
Shares of L-T Infotech closed at Rs 1,897, down 1.9 per cent.
HDFC Institutional has maintained its Neutral rating on Wipro with a target price of Rs 235.
The brokerage said Wipros growth continues to lag compared to its peers, however, its relative growth underperformance has reduced as there is a growth moderation happening in its larger peers.
The brokerage also added that there is also limited scope for margin expansion in the company.
Shares of Wipro closed at Rs 250, up 0.8 per cent.
IDFC Securities has downgraded rating on IndusInd Bankto neutral with a target price of Rs 1,380.
The brokerage said corporate stress for IndusInd was evident in the slippages and credit cost numbers for the third quarter of FY20.
Given a weak macro environment, uncertainties on the corporate portfolio remain high.
Also, IndusInds strong capital adequacy and its retail book are its key strengths.
Shares of IndusInd closed at Rs 1,383, down 1.2 per cent.
Citi Maintained its neutral stance on Mindtree with a target price of Rs 875.
Mindtree reported a decent third quarter numbers with revenues largely in line with the expectations while margins were slightly better than expected.
The brokerage said Mindtree was rationalising the tail end of the client accounts and is focusing on strategic accounts which will likely result in muted growth in non-top 10 clients going ahead.
The companys management also expects the deal wins to pick up in the fourth quarter of FY20.
Shares of Mindtree closed at Rs 897, up 1 per cent.
ULJK Securities has given a buy rating on Bandhan Bank with a target price of Rs 615.
In third quarter of FY20, the bank was impacted by the disturbance in Assam which impacted the whole micro finance industry.
The brokerage expects Bandhan Bank to overcome the challenges that it faced in Assam based on its historic capabilities of reviving from goods and services tax and demonetization-led challenges.
Shares of Bandhan Bank closed at Rs 474, down 3.5 per cent.