The indices are likely to open on a cautious note amid rising Indo-Pak tensions and negative global, ahead of February F&O Expiry.

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Asian stocks were also trading lower. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent, while South Korea’s KOSPI shed 0.5 percent and Japan’s Nikkei lost 0.5 percent

On Wednesday, the benchmark indices gave up early gains to fall over 200 points in afternoon trade on widespread selling.

The Sensex shed 465 points from day's high to slip below 36,000 levels, down 68.28 points to settle at 35,905.43. The Nifty50 erased 133 points from day's high to close marginally lower amid volatility ahead of expiry of February derivative contracts due on February 28.

Here are the top brokerage calls for the day:

Nomura on Infosys

- Neutral call, target at Rs 680 per share

- Incremental EBIT picture shows growth is coming at a high cost

- Staff cost growth is in fact lower than the headcount growth

- Look for margin to drop to 22.2% in Q4 vs 22.6% in Q3

- Prefer company to TCS on hopes of better growth in FY20 estimates

Credit Suisse on Financials

- Real estate sector NPAs are likely to rise in Q4

- Lack of funding from NBFCs will add To pressure from the weak property sales

- Remain cautious on Indiabulls, Edelweiss and L&T Finance in the NBFC space and Yes Bank in the banking space.

CLSA on Vodafone Idea

- Sell call, target at Rs 27 per share

- Going regional can cut debt by 25%, boost EBITDA by 20% in FY20

- Valuations are highly sensitive to revenue assumptions

- 10% higher revenue estimate results in a 2.5x jump in fair value

Axis Capital on Wipro

- Hold Call, target raised to Rs 340 from Rs 320 per share

- Divestment is aligned to its offering for larger clients

- Expect 4.5% revenue compound annual growth revenue over FY18-21

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First Published:Feb 28, 2019 7:54 AM IST