Thursday's biggest brokerage calls: PVR, Motherson Sumi and more

SUMMARY

The Indian markets are likely to open lower tracking its Asian peers as fears over the economic impact of the coronavirus pandemic continues to weigh on investor sentiment. Among brokerages, Kotak Institutional Equities upgraded Tata Communications, PVR, and JustDial but cut their target price amid the ongoing market mayhem. Here are the top brokerage calls for today:

By CNBC-TV18Mar 19, 2020 9:05:53 AM IST (Published)

Kotak Institutional Equities bullish on PVR: The brokerage upgraded the stock to 'buy' from 'reduce' but cut its target to Rs 1,800 per share from Rs 1,850 earlier. The brokerage believes the 40 percent correction in PVR from its peak is an opportunity to buy the stock.

Kotak Institutional Equities bullish on JustDial: The brokerage upgraded the stock to 'buy' from 'reduce' but cut its target price to Rs 470 from Rs 570 earlier. Risk-reward on JustDial extremely favorable believes the brokerage.

Kotak Institutional Equities bullish on Tata Communications: The brokerage upgraded the stock to 'buy' from 'add' but reduced its target price to Rs 425 per share from Rs 500 earlier. It sees a lot of value despite any potential short-term business disruption.

CLSA on Apollo Hospitals: The brokerage has a 'buy' call on the stock with but cut its target to Rs 1,850 from Rs 2,100 earlier. It also cut EPS estimates for Apollo Hospitals by 3-6 percent and believes hospital occupancy will decline in the near term.

Nomura on Motherson Sumi: The brokerage maintains 'buy' on the stock with a target at Rs 157 per share. It believes the company is well-prepared to deal with the COVID crisis.

Morgan Stanley on Motherson Sumi: The brokerage is bullish on the stock with a target at Rs 103 per share. The firm's near-term visibility is low, but risk-reward is attractive, it added.

Jefferies on Midcaps: The brokerage views Havells as a multi-year story. Its top picks include Supreme Industries, Kajaria Cements, and V-Guard Industries.

IDFC Securities on Marico: The brokerage upgraded the stock to 'outperform' with a target at Rs 304 per share. It expects Marico’s India volume growth to hit the positive territory in Q4.

IDFC Securities on PVR: The brokerage upgraded the stock to 'outperform' with a target at Rs 1,809 per share. Recent price correction in PVR offers an extremely exciting entry point, IDFC Securities said.

Morgan Stanley on MCX: The brokerage upgraded the stock to 'overweight' with a target at Rs 1,600 per share. The brokerage also raised its FY20 profit forecast by 5 percent.

HSBC on Sun Pharma: The brokerage maintains a 'hold' rating on the stock but reduced its target to Rs 430 per share from Rs 440 earlier. The recent correction in Sun Pharma offers valuation comfort, it added.