Monday's top brokerage calls: ONGC, Coal India, Alkem Lab and Motherson Sumi

SUMMARY

ONGC's stock remains inexpensive even after the recent rally, said JP Morgan while Jefferies believes valuations of Motherson Sumi are rich at current levels. Here are the top brokerage calls for today:

By CNBCTV18.comNov 15, 2021 8:32:15 AM IST (Published)

JP Morgan on Oil and Natural Gas Corporation | ONGC's stock remains inexpensive even after the recent rally, said JP Morgan. The brokerage has increased its FY22-23 estimates for ONGC by 6-12 percent.

Citi on Coal India | With ESG concerns, a significant re-rating for Coal India may not be easy, according to Citi. The brokerage believes further upside may be limited with improving domestic coal supply situation.

Nomura on Alkem Lab | The brokerage has raised its revenue estimates for Alkem Lab by 2-4 percent for FY22-24. However, higher raw material cost and seasonal weakness pose near-term challenges, Nomura cautioned.

Jefferies on Motherson Sumi Systems | Valuations of Motherson Sumi are rich at current levels, said Jefferies. Though easing of chip shortages should drive better financials ahead, the brokerage said.