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Top brokerage calls for November 21: Morgan Stanley 'overweight' on BPCL, HPCL; 'equal weight' on Titan

Updated : 2019-11-21 08:03:53

The Indian market is expected to open on a weak note, following negative sentiment in the global markets. However, the government’s decisions to defer spectrum payments and approve divestment of central public-sector enterprises (CPSEs) may support local equities. Among brokerages, Morgan Stanley is 'equal-weight' on TCS and Titan and 'overweight' on ICICI Bank and Axis Bank. Here are the top brokerage calls for Thursday:

 Morgan Stanley on OMCs:  Stake sale by the government could drive cost efficiencies for oil marketing companies (OMCs) in the medium term, said the brokerage. Morgan Stanley added that the divestment can unlock $15-25 billion value for fuel marketers. It is 'overweight' on BPCL and HPCL.
Morgan Stanley on OMCs: Stake sale by the government could drive cost efficiencies for oil marketing companies (OMCs) in the medium term, said the brokerage. Morgan Stanley added that the divestment can unlock $15-25 billion value for fuel marketers. It is 'overweight' on BPCL and HPCL.
 Morgan Stanley on ICICI Bank:  The brokerage has an 'overweight' rating on the stock with a target at Rs 665 per share. The brokerage added that the current load growth will likely be sustained led by retail.
Morgan Stanley on ICICI Bank: The brokerage has an 'overweight' rating on the stock with a target at Rs 665 per share. The brokerage added that the current load growth will likely be sustained led by retail.
 Morgan Stanley on Axis Bank:  The brokerage is 'overweight' on the stock with a target at Rs 925 per share. It said that there is an expectation of FY20 margin to be higher than FY19 and added that capital raise towards end of Q2FY20 will also help the bank's cause.
Morgan Stanley on Axis Bank: The brokerage is 'overweight' on the stock with a target at Rs 925 per share. It said that there is an expectation of FY20 margin to be higher than FY19 and added that capital raise towards end of Q2FY20 will also help the bank's cause.
 Morgan Stanley on TCS:  The brokerage put an 'equal weight' call on the stock with a target at Rs 1,980 per share. Deal flow has shown resilience despite some deceleration in large verticals, said the brokerage. It added that the company has been able to show strong revenue growth without putting its balance sheet in play.
Morgan Stanley on TCS: The brokerage put an 'equal weight' call on the stock with a target at Rs 1,980 per share. Deal flow has shown resilience despite some deceleration in large verticals, said the brokerage. It added that the company has been able to show strong revenue growth without putting its balance sheet in play.
 Morgan Stanley on Titan:  The brokerage has an 'equal weight' rating on the stock with a target at Rs 1,240 per share. As per the management, the company continues to gain market share, said the brokerage. However, it added that there is no major improvement in the overall demand environment.
Morgan Stanley on Titan: The brokerage has an 'equal weight' rating on the stock with a target at Rs 1,240 per share. As per the management, the company continues to gain market share, said the brokerage. However, it added that there is no major improvement in the overall demand environment.
 Credit Suisse on Steel sector:  Steel price hike likely to sustain and there is room for more, said the brokerage. It has an 'outperform' rating on JSW Steel, JSPL, and Tata Steel and is 'neutral' on SAIL.
Credit Suisse on Steel sector: Steel price hike likely to sustain and there is room for more, said the brokerage. It has an 'outperform' rating on JSW Steel, JSPL, and Tata Steel and is 'neutral' on SAIL.
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