Market
Updated : 2020-03-20 08:23:17
Indian shares are likely to start on a muted noted as Asian markets showed some respite from the ongoing selloff. Among brokerages, Morgan Stanley is bullish on RIL, whereas Credit Suisse remains cautious on small private banks like IndusInd Bank and RBL Bank after the YES Bank bailout. Here are the top brokerage calls for the day:
Credit Suisse on Financials: As per the brokerage, post YES Bank bailout, market concerned about deposit flight out of other smaller private banks. It added that IndusInd Bank and RBL Bank have also reported a decline in deposits in recent weeks.
Morgan Stanley on Reliance Industries: The brokerage is ‘overweight’ on the stock with a target at Rs 1,632 per share. Lower oil prices have led petrochemical margins to expand, it noted, adding that SC’s tough stance on AGR dues could also benefit RIL.
CLSA on Havells: The brokerage has an ‘outperform’ call on the stock but cut its target to Rs 590 per share from Rs 655 earlier. It added that the relative performance of Lloyd in H1CY20 crucial for the stock performance.
CLSA on IT: Accenture announces guidance between -2 to 3.5 percent for HU despite strong growth indicating a challenge six months ahead of the IT companies.
Jefferies on IT: According to the brokerage, Accenture’s Q3 growth guidance implies flat to 3.5 percent QoQ decline. It prefers TCS and Infosys in the Indian IT space.
