Tuesday's top brokerage calls: Tata Motors, Axis Bank, Kotak Mahindra Bank, and more

CLSA on SBI Life Insurance: The brokerage has a 'buy' call on the stock with the target at Rs 1,385 per share. The brokerage said the company is "one of our preferred picks", it expects the long-term VNB margin at 26 percent versus 24.5 percent.

Jefferies on DLF: The brokerage has a 'buy' call on the stock with the target at Rs 358 per share. According to the brokerage, its profits are above estimates and revenue decline was less than expected.

Morgan Stanley on Axis Bank: The brokerage has a 'buy' call on the stock with the target at Rs 1,000 per share. It noted that the lender's core PPoP are broadly in line with estimates. The brokerage expects strong future earnings from the company due to lower credit cost and better PPoP.

Morgan Stanley on M&M Financial: The brokerage has a 'buy' call on the stock with the target at Rs 240 per share. It saw a large quarter-on-quarter increase in stage 2 and 3 loans of 13.3 ppts of loans.

UBS on DLF: The brokerage has a 'buy' call on the stock with the target at Rs 370 per share. It noted that the company's development business did very well despite challenges in the annuity business.

UBS on Tata Motors: The brokerage has a 'neutral' call on the stock with the target at Rs 320 per share. The brokerage noted that while the company's India business in line with estimates, JLR's margins are weak.

Citi on Axis Bank: The brokerage has a 'buy' call on the stock with the target at Rs 925. The brokerage said the lender say higher retail slippage and a decline in NIM QoQ.

Citi on L&T: The brokerage has a 'buy' call on the stock with the target at Rs 1,785. The brokerage has said the company has shown a solid margin performance and expectedly soft execution.

CLSA on Axis Bank: The brokerage has a 'buy' call on the stock with the target at Rs 1,050. The brokerage has said the lender's first-quarter results on an absolute basis are in line. The brokerage expects the retail stress to normalise in the second half of the year, leading to an RoE of 15-15.5 by FY23.

Jefferies on L&T: The brokerage has a 'buy' call on the stock with the target at Rs 1,900. The brokerage noted that the company's first-quarter EBITDA is 12 percent below our expectations as E&C sales were missed by 12 percent. It added that the pandemic-induced delays, including fatalities and local lockdowns, impacted the execution.

Morgan Stanley on L&T: The brokerage has an 'overweight' call on the stock with the target at Rs 1,894. The brokerage noted the company's core revenue is a tad weak, but the strong core margin despite the commodity inflation is a big plus.