Idea CLSA downgrades rating from outperform to sell with target cut to Rs 94 from Rs 137 per share. It says burden of spectrum is weighing on earnings. Hero MotoCorp Motilal downgrades it to neutral from buy given rich valuations. Target for the stock is at Rs 3666 per share. It says volume growth drives revenue as adverse mix dragged realisations.
Nomura maintains neutral call on stock with target cut to Rs 2,906 from Rs 3,179 per share. Wockhardt Citi cuts target to Rs 810 from Rs 1355 per share and downgraded to sell from buy. It says road to recovery getting tougher and disappointed by the progress on us regulatory compliance and adds remediation process at older facilities could get delayed as well. Britannia Nomura has buy call on stock with target at Rs 3735 per share. Colgate Nomura has neutral call on the stock with target at Rs 867 per share. CLSA cuts EPS by 4-5 percent retaining selling, with target increased to Rs 880 from Rs 800 per share. It says volume growth of 5 percent in the domestic business was a surprise. Bank of America Merrill Lynch retains underperform call with target at Rs 750 per share. Q1 margin under pressure due to high advertising spend. Marico Citi has neutral on the stock with target at Rs 270 per share. From GST perspective, it expects gains to be lower versus peers.
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