Top brokerage calls for September 19: Morgan Stanley 'overweight' on Cadila; Jefferies cuts price target for Havells

SUMMARY

Indian shares are likely to open little changed on Thursday, in line with Asian stocks, as investors remained cautious after the US Federal Reserve offered mixed signals on the next easing. At 7:00 am, the SGX Nifty futures traded higher by 0.06 percent, or 6 points, at 10,856.50, indicating a flat start for the Sensex and the Nifty. Here are the top brokerage calls for today:

By CNBC-TV18Sept 19, 2019 7:57:42 AM IST (Published)

Jefferies on Havells India: The brokerage has a 'buy' rating on the stock but cut its target to Rs 790 per share from Rs 820 earlier. The brokerage views the company as a multi-year growth story, backed by its varied product array. However, current demand weakness and tight liquidity warrant near-term caution.

Citi on Voltas: The brokerage has a 'buy' rating on the stock with a target at Rs 717 per share. It added that no meaningful consumption slowdown was seen in the products business but festival season holds the key.

Morgan Stanley on Cadila: The brokerage is 'overweight' on the stock with a target at Rs 304 per share. The company expects to launch 30-35 products per year, the brokerage dais. It also added that Indian markets should return to 10-12 percent growth rate in due course and that the company looks to reduce its debt to Rs 500 crore in FY20.

CLSA on Info Edge: The brokerage maintains 'buy' call on the stock with a target at Rs 2,400 per share. The brokerage said that the current level is an attractive entry point but Zomato ls likely to see near-term course correction.

Citi on MindTree: The stock is 'neutral' on the stock with a target at Rs 755 per share. Revenue growth is likely to accelerate aided by deal wins and business stability, the brokerage said, adding that the stock has remained range bounded post the leadership change.