Brokerage Views: CLSA On HDFC Bank And Bharti Airtel, Nuvama On Phoenix Mills And More

CLSA has maintained a 'hold' rating on HDFC Bank Ltd. stock and said more frequent sell-downs are unlikely to repair the balance sheet faster and change the neutral view on the stock. The brokerage also maintained 'outperform' on Bharti Airtel Ltd.While, Nuvama maintained a 'buy' on Phoenix Mills Ltd. as it sees retail consumption growth remaining on track in second quarter.NDTV Profit tracks what brokerages are putting out on stocks and sectors. Here are all the top calls from analysts you need to know about on Wednesday..The brokerage maintained 'hold' rating on HDFC Bank Ltd. with a target price of Rs 1,725 per share, a potential upside of 4.5% to the previous close.HDFC Bank has swapped one type of debt with another type of more expensive debt.The lender sold down Rs 1.92 lakh crore in the second quarter and Rs 2.46 lakh crore of loans via securitisation and assignment.More frequent sell-downs are unlikely to 'repair' the balance sheet faster and change the neutral view on the stock.Securitisation market in India is not very large, and the LDR reduction is at the cost of profits.Alternatively, HDFC Bank could retire some high-cost borrowings, using the cash from the sell-downs.If HDFC Bank wants to reduce LDR by 10 percentage points, it would need to sell down $30 billion of loans.Such a large quantum of money, at a relatively cheap cost, is difficult to find in domestic debt markets.If HDFC Bank were to raise money at a landed cost of 7% or lower, that would be a value-accretive deal..Stocks To Watch Today: HDFC Bank, Bajaj Finserv, Tata Motors, IRCON International And More.Maintained 'outperform' on the stock with a target price of Rs 1,820 apiece, a potential upside of 9.5%.Media reports state that Bharti Airtel is looking to acquire Tata Play at $1 billion valuation.Tata Play deal, should it happen, would be a significant positive. It has 20 million subscribers and 33% industry share.The DTH industry has seen revival in growth post new tariff order in 2023.Tata Play is 70% owned by Tata Group and balance by Walt Disney.Bharti’s DTH business has 16.3 million subscribers with annualised revenue of Rs 3,100 crore and 50% margin.Both these businesses combined would be 7% of Bharti India’s revenue. The deal would multiply access to high end homes and boost coverage. Reliance and Disney Star are in the middle of a merger to establish India’s largest media business covering TV, OTT and IPL rights..Bharti Airtel, Fortinet Partner To Launch Next-Gen Connectivity Solution, Airtel Secure Internet.The brokerage maintained 'buy' rating on the stock with a target price of Rs 1,857 per share, a potential upside of 12%.Retail consumption growth of 25% YoY in the second quarter remains on track.Weighted average trading occupancy stood at 92% across major malls in September.The brokerage continues to maintain bullish stance on company.The key stock triggers over next few years is entry in new cities and operationalisation of under-construction assets..Phoenix Mills Bags Two Plots For Rs 891 Crore In Mohali

Brokerage Views: CLSA On HDFC Bank And Bharti Airtel, Nuvama On Phoenix Mills And More

Here are all the top calls from analysts you need to know about on Wednesday.

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Brokerage Views: CLSA On HDFC Bank And Bharti Airtel, Nuvama On Phoenix Mills And More

Here are all the top calls from analysts you need to know about on Wednesday.

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