Tuesday's top brokerage calls: L&T, Ashok Leyland, Glenmark and VA Tech

SUMMARY

Credit Suisse said that upside for L&T could originate from lower interest cost, cash flows and margin, while Nomura sees further price hikes for Ashok Leyland. Here are the top brokerage calls for the day:

By CNBCTV18.comNov 16, 2021 8:27:18 AM IST (Published)

Morgan Stanley on Glenmark | Cash conversion and specialty monetisation are the key value drivers for Glenmark, according to Morgan Stanley. The brokerage has maintained its 'underweight' rating on the stock.

Nomura on VA Tech | Robust ordering in the first half and growing ESG-related water capital expenditure will benefit the company in the long run, Nomura believes. The brokerage has retained its 'buy' rating on the stock.

Credit Suisse on Larsen & Toubro | Upside for L&T could originate from lower interest cost, cash flows and margin, Credit Suisse said. The brokerage has maintained its 'outperform' rating on the scrip.

Nomura on Ashok Leyland | The brokerage sees further price hikes and expects operating leverage to drive the company's margin. Nomura has maintained its 'buy' rating on the stock.