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Brokerage Radar: 4 stock recommendations by CLSA

ASHOK LEYLAND
BCCL
1/2
ASHOK LEYLAND
> Too early and too expensive to call for a stock bottom; reiterate SELL
> Truck slowdown intensifying; we see risk of an elongated downcycle
> Too early and too expensive to call for a stock bottom
> Cut FY20-21CL EPS by 11-25% and reiterate SELL
> Target price reduced from Rs50 to Rs40/share
TCS
BCCL
2/2
TCS
> Exploiting DX to expand addressable market and increase relevance
> BUY for industry-leading growth and quality
> Digital driving overall growth
> Deal wins in cloud across verticals
> Reiterates Buy target at 2570/shar
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