Thursday's top brokerage calls: IndusInd Bank, Powergrid and more

SUMMARY

Among brokerages, Morgan Stanley is equal-weight on IndusInd Bank while CLSA raises the target price for Powergrid. Meanwhile, Jefferies maintains HPCL and BPCL as top picks in the OMC space. Here are the top brokerage calls for today:

By CNBCTV18.comDec 17, 2020 8:16:47 AM IST (Published)

Morgan Stanley on IndusInd Bank: The brokerage maintains an 'equal-weight' call on the stock with a target at Rs 710 per share. At CMP, warrants are out of the money even adjusted for the money already paid, need to see if IndusInd Bank’s promoter goes ahead with the conversion, MS says.

CLSA on Powergrid: The brokerage maintains a 'buy' call on the stock and raises its target to Rs 225 from Rs 215 earlier. The brokerage is bullish on attractiveness to ESG investors and inexpensive valuations.

Jefferies on OMCs: Provisional data suggests oil demand could be flat YoY in Q3 versus 11 percent decline in Q2, says the brokerage. It maintains BPCL and HPCL as preferred picks.

Jefferies on Graphite Electrodes: The brokerage maintains 'buy' calls on Graphite India and HEG and raises the target price for both firms. It also raises FY22-23 EPS for Graphite India and HEG by 16-40 percent.

JM Financial on Sugar Companies: As per the brokerage, there is a possibility of a correction in global sugar prices as India exports hit world markets. It maintains its cautious view on the industry due to the structural oversupply scenario.