Indian shares are set to open little changed on Thursday, tracking muted Asian cues ahead of business surveys in Europe and Japan, coupled with the Good Friday and Easter holidays keeping investors on the sidelines.

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On Tuesday, NSE Nifty and BSE Sensex extended gains to end at record highs amid sustained buying from foreign investors and positive sentiment in global peers. Domestic stock, bond, commodity and forex markets were shut on Wednesday on account of Mahavir Jayanti.

At 07:04 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was unchanged at 11,848.50, indicating a flat start for the Sensex and Nifty.

Among brokerages, Morgan Stanley has an underweight call on Wipro, but raised the target price to Rs 255, PhillipCap maintained neutral call on MindTree but raised its target price to Rs 930 per share, HSBC is bullish on RIL while Citi is positive on JSPL.

Top brokerage calls for Thursday:

Morgan Stanley on Wipro

- Underweight call, target raised to Rs 255 from Rs 225 per share

- Q4 saw weaker IT services revenue but better EBIT

- Revenue growth guidance of -1 to +1 percent softer than expected

- Management alluded to better growth in FY20 vs FY19

- FY20/21 EPS estimates raised by 2-3 percent

Also Read: 10 things you need to know before the opening bell on April 18

PhillipCap on MindTree

- Maintain neutral, target raised to Rs 930 from Rs 900 per share

- strong revenue performance, driven by strong growth in hi-tech and BFSI

- Top client, reported moderate growth while non-top-10 clients continued strong performance

- Digital business reported strong growth of 27 percent YoY

- Expensive valuations and impending ‘hostile takeover’ attempt prevents us in turning buyer

DB on Wipro

- Hold rating, target at Rs 270 per share

- Soft results and a weak start to FY20

- Revenue in-line but core EBIT 7 percent below estimate

- BFSI has maintained its momentum, but healthcare remains weak

- Revenue guidance for Q1 implies 5 percent YoY growth but company sees a pick-up in H2

HSBC on Reliance Industries

- Reports suggest Saudi Aramco in talks to acquire minority stake in downstream businesses

- Possible deal could partly de-risk company’s energy business in long-term

- Possible deal could accelerate its deleveraging plans in near term

- Maintain buy rating, target at Rs 1,500 per share

Citi on JSPL

- Maintain buy call, target at Rs 254 per share

- Once current capacities are fully utilised, long-term EBITDA potential looks significant

- De-leveraging process is on and will likely accelerate here-on

- EBITDA and cash flows improved, driven by an increase in steel prices and volumes

Top stocks to watch out for on April 18: Jet Airways, Mindtree, Wipro, RIL

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.