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*ET NOW BROKERAGE RADAR*
*NOMURA ON NIFTY: ET NOW*
Increasing Nifty Mar’20 NIFTY target to 12,900
Expect market to get valuation support from lower bond yields
Increase target multiple to 17x from 16x on FY21F
Key overweight are Banks/Insurance, Infrastructure & healthcare
Expect quality financial to benefit from lower cost of funds
Go underweight on Autos from Neutral
Our top picks : ICICI Bank , SBI , L&T
Our top picks : Container Corp , SBI Life
*CREDIT SUISSE ON TCS: ET NOW*
Maintain Neutral ,Target at `2000/share
Target cut from `2130/share to `2000/share
Near-term commentary turns a tad cautious
TCS is likely to miss its 26-28% margin band
We moderate FY20/FY21 growth estimate by ~150 bps
Also cut EPS estimates by 2-4%
*GOLDMAN ON TCS: ET NOW*
Maintain BUY, Target at `2329/share
Results in line with expectation
Strong execution helps navigate rough seas
*MORGAN STANLEY ON TCS: ET NOW*
Maintain Equal-Weight , Target at `1980/share
Q1 show Weak Revenue & Better Margin
UK, Europe & India registered double digit cc
*UBS ON TCS: ET NOW*
Maintain Neutral , Target at `2400/share
Revenue miss likely to trigger growth concerns for FY20
Expect some near term pullback from TCS
Relative margin resilience should limit downside
*KOTAK ON TCS: ET NOW*
Maintain Reduce , Target at `1940/share
Cut EPS estimates by 3-4% post Q1
FY2020 started off on a modest note
Miss led by moderation in growth in banking vertical
*CLSA ON TCS: ET NOW*
1Q20: revenue and margin miss, deal wins, and outlook strong
Strong revenue growth led by BFSI
Margins missed due to supply pressures
Rising relevance – large deal wins, digital share gains, client mining
BUY for industry-leading growth and quality
Cut FY20-22CL EPS by 3%, as well as our target price (from Rs2,650 to Rs2,570)
*CLSA ON INDIAN AUTO-DEALER SURVEY: ET NOW*
Not much demand pick-up post elections; financing not a major drag
Auto demand remains weak even post elections
Finance availability not a big concern; inventories still high
New products seeing decent response
*CITI ON CHEMICALS: ET NOW*
Opening Negative Catalyst Watch on SRF and PI Industries
Emerging slowdown in the agri chemical end-markets could weigh on the near-term performance of SRF and PI
Stocks are now at the higher end of their historical trading ranges
BASF recently pre-announced lower earnings and highlighted weak development of the agricultural sector in US
Auto slowdown in India to impact refrigerant sales for SRF
Long-term fundamentals of SRF and PI remain strong
*NOMURA ON AUTO Q1 PREVIEW: ET NOW*
In Q1 EBITDA margins to remain under pressure
Auto sector is going through a difficult phase
Ashok Leyland , Hero & Exide can surprise positively
Maruti , Motherson & Bharat Forge could disappoint
*GOLDMAN ON SPICEJET: ET NOW*
Initiate on Spicejet with a BUY
Target for Spicejet at `161.45/share
Co poised for faster growth & share gains
See benefits from industry changes in Spice jet
*CREDIT SUISSE ON L&T: ET NOW*
Maintain Outperform , Target at `1700/share
Co to focus on growth lead by digitization
Co aims to offer expertise to client
Domestic pick-up, steady Middle East is they key
Valuation at 18x FY21E is reasonable
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Recent posts in News and Analysis

🛑🛑🛑🛑🛑🛑
Combined nifty call OI addition of the day now moved to nearly 60 lakhs now from earlier post 46 lakhs
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BTVI: IMD: Expect Monsoon Deficit To Narrow Further This Month
Expecting Normal Monsoon At The End Of This Season
Summer-Sowing Has Picked Up Pace, Will Issue Monsoon Update In First Week Of August
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Open Interest updates
Yesterday added nearly 32 lakhs OI in nifty monthly 11700-11650-11600 calls together...it was simply big....I am talking about Monthly strikes and not weekly strikes expired yesterday..
And today again got added around 46 lakhs OI in Nifty monthly 11700-11650-11600 -11550 -11500 calls..
This is huge and in 11600 calls alone got added 21 lakhs OI today
So looks tough for a close above 11600 now...
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Why EXID & AMRJ down 4%+ with vols
-Industry sources says they have cut pxs recently by 5-7% recently to deal with weak demand.
- Lead, the basic Raw Mat is up 2.5% in last 3 days & up ~10% in last one month
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In last 19 years baring 2002 and 2000, Nifty has never closed July month below the low of June month.
#AceEquities
June low is 11625 on Nifty Spot this time.
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