Rupee opens at 71.38 v/s Wednesday close of 71.43. 

Morgan Stanley on Federal Bank

1. Underweight rating, target cut to Rs 80 from Rs 90/share
2. Earnings to be under pressure & lower estimates further 3-6 percent for FY20-22
3. Asset quality remains weak given high NBFC/HFC exposure
4. FY21E P/BV is not attractive for RoE of 11 percent

Morgan Stanley on PNB Housing

1. Underweight call, target at Rs 550/share
2. Disbursements down 35 percent QoQ & down 41 percent YoY
3. Reported AUM at Rs 89,500 crore YoY growth slowing to 22 percent from 29 percent
4. Gross NPA stable Qoq at 0.84 percent vs 0.85 percent

Morgan Stanley on Mindtree

1. Underweight rating, target raised to Rs 725 from Rs 705/share
2. Revenue growth better than expected but margin is soft
3. Trim our FY20 EPS estimate by 6 percent & FY21 by 2 percent
4. Upside risks include strong execution & improvement in margin
5. Margin expected to improve QoQ in H2

CLSA on DB Corp

1. Buy rating, target cut to Rs 185 from Rs 220/share
2. Q2 revenue disappoints but tax boosts earnings
3. Profit beats estimates due to tax reversals
4. Margin may expand further led by continued decline in raw material costs
5. Cut FY20-21 estimates by 2-7 percent & forecast 6 percent earnings CAGR over FY20-22
6. Positive stance on stock at it offers 7 percent dividend yield

HSBC on Info Edge

1. Maintain buy rating, target raised to Rs 2,479 from Rs 2,309/share
2. Zomato H1 revenue growth as per expectations
3. Lower employee costs seem to have led to lower monthly burn rate

Macquarie on Bandhan Bank

1. Maintain non-consensus, high conviction underperform on Bandhan bank
2. Target or Bandhan Bank at Rs 425/share, 30 percent downside from CMP
3. Remain uncomfortable with Bandhan Bank at current levels
4. At 5.1x forward P/BV, there is no margin of safety
5. Material bump-up in ticket sizes in some geographies an area of concern

Nomura on Logistics

1. Sharp volume drop at major ports
2. Sep 2019 volumes deteriorated across the space
3. Core exim trade down 4 percent YoY in Q2FY20; worst YoY decline since Q4FY16
4. Major port volume growth weak at 1.4 percent YoY in Q2FY20
5. Container growth weak at 4 percent YoY in Q2, lowest since Q1FY18
6. Railway container volume growth higher than port container volume growth
7. Concor is our preferred pick in the space
8. Buy call on Concor with a target of Rs 670/share
9. Buy call on Gujarat Pipavav with a target of Rs 100/share
10. Neutral on Adani Ports with a target of Rs 415/share