Top brokerage calls for December 24: Morgan Stanley 'underweight' on Bharti Infratel, 'overweight' on JSPL

SUMMARY

The Indian market is likely to open flat on Tuesday amid lack of cues in a holiday truncated week. The SGX Nifty was trading 9 points lower at 12,270, at 7:35 AM, hinting at a flat start for the domestic market. Among brokerages, Morgan Stanley is 'underweight' on Bharti Infratel, but 'overweight' on JSPL. Here are the top brokerage calls for Tuesday:

By CNBC-TV18Dec 24, 2019 8:16:27 AM IST (Updated)

Morgan Stanley on Bharti Infratel: The brokerage is 'underweight' on the stock with a target at Rs 227 per share. According to reports, the Indus merger may not get timely clearance. Indus Merger, if approved could be accretive and re-rate the stock, the brokerage said.

Morgan Stanley on JSPL: The brokerage is 'overweight' on the stock with a target at Rs 174 per share. It believes any restructuring of international debt will be positive for the stock.

Nomura on Logistics: As per the brokerage, rail containers gain market share in a weak export-import trade environment. ConCor is the brokerage's top picks in the space, with a 'buy' call and target at Rs 670 per share.

Kotak Institutional Equities on Oil & Gas: The brokerage expects crude oil prices to remain muted and rangebound in the near term. Supply to remain in surplus even if proposed cuts continue through CY20, it added.

Kotak Institutional Equities on Insurance: As per the brokerage, general insurance companies reported a 16 percent YoY growth in premium in October. The private sector continued to gain market share while PSUs reported a decline of 4 percent YoY, it added.

Kotak Institutional Equities on Banks: Maharashtra government has announced a farm loan waiver of up to Rs 2 lakh. As per the brokerage, frequent occurrence of actions like loan waivers leads to the risk of impaired credit discipline.

Kotak Institutional Equities on Vodafone Idea: Factoring in the recent tariff hikes and expectation of further rise, the brokerage raised the company's EBITDA forecast for FY20-22 by 35-60 percent.