Wednesday's top brokerage calls: IndiGo, Asian Paints and more

SUMMARY

Among brokerages, Morgan Stanley is overweight on IndiGo and Credit Suisse cut the target price for Asian Paints while maintaining a bullish stance. Also, CLSA raised the target price for Tata Communications and is bullish on the cement space. Here are the top brokerage calls for today:

By CNBCTV18.comMar 3, 2021 8:33:34 AM IST (Published)

Morgan Stanley on IndiGo: The brokerage is 'overweight' on the stock with a target at Rs 1,935 per share. It said that the aviation company is well placed to weather the current storm, adding that the airline should gain market share over FY20-23.

Credit Suisse on Asian Paints: The brokerage maintains an 'outperform' rating on the stock but cut its target to Rs 2,800 from Rs 3,000 earlier. It said that commodity inflation remains a headwind.

CLSA on Tata Communications: The brokerage maintains a 'buy' call on the stock and raised its target to Rs 1,475 per share from Rs 1,365 earlier.

CLSA on Cement: As per the brokerage demand is improving and pricing visibility is the next key catalyst. It prefers UltraTech, Dalmia Bharat, and ACC in the cement space.

CLSA on Telecom: The brokerage sees no change in the competitive dynamics. It notes that Reliance Jio’s spectrum burden is now 10 percent higher than Bharti Airtel’s and added that post auction there may be a crash in spectrum prices.

CLSA on Financials: According to CLSA, the turning rate cycle is positive for bank margin. It maintains a positive view on large banks and axis Bank, ICICI Bank and SBI remain its top picks.

Jefferies on Lupin: The brokerage maintains a 'hold' call on the stock with a target at Rs 1,022 per share. It noted that the company is regaining market share, which is visible in the past two weeks' IQVIA data.

JPMorgan on Reliance Industries: The brokerage is 'neutral' on the stock with a target at Rs 2,055 per share. It said that the spectrum purchase was larger than expected and that the tariff increases over FY21-23 may be substantial.