Indian benchmark indices are likely to open in red on Monday amid weak global macro cues. Asian shares also pulled back on Monday after US employment data raised doubts about the strength of the global economy.

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On Friday, the 30-share BSE Sensex fell 54 points to 36,671 as the Nifty slipped 23 points to 11,035. The indices, however, gained over 1.5 percent during the week despite global growth concerns.

In brokerage calls today, Nomura maintained a "buy" rating for Dr. Reddy's, and cut the target price to Rs 3,414 per share from Rs 3,478 per share. Morgan Stanley rated SBI as "overweight" and Credit Suisse maintained "underperform" on Wipro. Here are the top brokerage calls for today:

Morgan Stanley on SBI

- Overweight rating, target at Rs 375 per share

- Linking interest rate on savings deposits and short-term loans to repo rate, a big move

- Margin volatility should reduce over time

- Key to monitor will impact on deposit growth and strategy of peer banks

Credit Suisse on Wipro

- Maintain underperform, target at Rs 240 per share

- Margin recovery well priced in

- Focus shifts back to closing growth gap

- Some signs of a pick-up in growth but it is not broad-based

Nomura on Dr Reddy’s

- Buy rating, target cut to Rs 3,414 from Rs 3,478 per share

- Growth prospects largely on track

- High price erosion in gSuboxone is a marginal negative

- Factor in higher-than-estimated competition in gSuboxone in FY20-21

- Reduce eanings per share estimate for FY20 and FY19 by 11 percent and 4 percent, respectively

CLSA on power sector

- FY19-24 regulations were a positive surprise

- Regulations a great balancing act for maintaining a 15.5 percent return on equity

- Key positives are extra allowance for security expenses

- Raised NTPC and PowerGrid target prices by 4 percent and 2 percent respectively and FY20 earnings per share by 4 percent and 6 percent, respectively

- An opportunity to add NTPC and PowerGrid

First Published:Mar 11, 2019 8:04 AM IST