Top brokerage calls for January 9: BofAML upgrades IndusInd Bank to 'buy'; Citi maintains 'sell' on ICICI Securities

SUMMARY

The Indian market is set to open in the green on Thursday following optimism in the global markets after the US and Iran hinted that they are avoiding further conflict. Among brokerages, BofAML upgraded IndusInd Bank to 'buy, while HSBC raised the target price for Voltas. Here are the top brokerage calls for Thursday:

By CNBC-TV18Jan 9, 2020 8:13:37 AM IST (Published)

BofAML on IndusInd Bank: The brokerage upgraded the stock to 'buy' and raised its target to Rs 2,000 per share from Rs 1,500 earlier. As per the brokerage, macro and micro factors will turn tailwinds in 2020. The company offers the best risk-reward in the sector, it added.

HSBC on Voltas: The brokerage retained 'buy' target on the stock with target raised to Rs 735 from Rs 720 earlier. Room AC industry will post double-digit growth in 2020 with the company outperforming the industry, it added.

Citi on ICICI Securities: The brokerage maintained 'sell' call on the stock but raised the target to Rs 350 per share from Rs 200 earlier. It added that new customer acquisition and product strategies can help accelerate growth.

Morgan Stanley on PowerGrid: The brokerage is 'overweight' on the stock with a target at Rs 237 per share. It believes share price will rise over the next 45 days.

Morgan Stanley on Reliance Industries: The brokerage is 'overweight' on the stock with a target at Rs 1,753 per share. Q3 earnings should be steady despite headwinds of oversupplied petrochem markets, it added.

Morgan Stanley on Consumer: In staples, the brokerage favors companies with strategic initiatives. It expects strong Q3 earnings growth from Tata Global, Avenue Super, ITC, Nestle, Jubilant Food and Asian Paints.

HSBC on Finolex Industries: The brokerage maintained 'buy' call on the stock with target raised to Rs 710 per share from Rs 680 earlier.