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Top brokerage calls for September 30: Morgan Stanley downgrades Asian Paints; Jefferies bullish on M&M

Updated : 2019-09-30 08:21:02

Benchmark indices the BSE Sensex and NSE’s Nifty 50 are set for a mixed start on Monday following muted sentiment in the global markets and ahead of the Reserve Bank of India’s monetary policy decision later this week. Among brokerages, Morgan Stanley downgraded Asian Paints but is 'overweight' on Titan. Jefferies downgraded Maruti but remains bullish on M&M. Here are the top brokerage calls for Monday:

<strong>Morgan Stanley on Asian Paints:</strong> The brokerage downgraded the stock to 'equal-weight' from 'overweight' but raised its target price to Rs 1,820 from Rs 1,600 per share. The company remains one of its favourite long-term plays. It is reluctant to push multiples beyond current levels.
Morgan Stanley on Asian Paints: The brokerage downgraded the stock to 'equal-weight' from 'overweight' but raised its target price to Rs 1,820 from Rs 1,600 per share. The company remains one of its favourite long-term plays. It is reluctant to push multiples beyond current levels.
<strong>Jefferies on Autos:</strong> The brokerage downgraded Maruti to 'hold' but reiterated 'buy' rating on M&M.
Jefferies on Autos: The brokerage downgraded Maruti to 'hold' but reiterated 'buy' rating on M&M. "We have downgraded Maruti given limited upside post 25 percent rally from recent lows," it said, adding that it stays cautious on 2-wheeler and MHCVs due to BS-6 overhang in FY21.
<strong>CLSA on Metals:</strong> The brokerage has a 'sell' call on Tata Steel, JSW Steel, Hindalco, and Vedanta, and has a 'buy' call on Coal India. It added that the weakening global economic growth is adding to this pressure.
CLSA on Metals: The brokerage has a 'sell' call on Tata Steel, JSW Steel, Hindalco, and Vedanta, and has a 'buy' call on Coal India. It added that the weakening global economic growth is adding to this pressure.
<strong>Morgan Stanley on Titan:</strong> The brokerage is 'overweight on the stock and has raised its target price to Rs 1,450 per share from Rs 1,300 earlier. The brokerage said that corporate tax cuts will increase the company's earnings by over 5 percent, adding that strong growth in a difficult macro environment can help sustain current high stock.
Morgan Stanley on Titan: The brokerage is 'overweight on the stock and has raised its target price to Rs 1,450 per share from Rs 1,300 earlier. The brokerage said that corporate tax cuts will increase the company's earnings by over 5 percent, adding that strong growth in a difficult macro environment can help sustain current high stock.
<strong>CLSA on Reliance AMC:</strong> The brokerage is bullish on the stock with a target of Rs 300 per share. Nippon Life now owns 75 percent, it said, adding that ability to reclaim market share is key. Nippon could help the company secure international mandates for fund management, it further said.
CLSA on Reliance AMC: The brokerage is bullish on the stock with a target of Rs 300 per share. Nippon Life now owns 75 percent, it said, adding that ability to reclaim market share is key. Nippon could help the company secure international mandates for fund management, it further said.
<strong>Morgan Stanley on L&T:</strong> The brokerage is 'overweight' on the stock but has cut its target to Rs 1,753 per share from Rs 1,786 earlier. Tide seems to be turning in favor of industrials, said the brokerage, adding that the company remains top pick in the sector.
Morgan Stanley on L&T: The brokerage is 'overweight' on the stock but has cut its target to Rs 1,753 per share from Rs 1,786 earlier. Tide seems to be turning in favor of industrials, said the brokerage, adding that the company remains top pick in the sector.
<strong>Morgan Stanley on Kotak Bank:</strong> The brokerage is 'overweight' on the stock and raised its target to Rs 700 per share from Rs 560 earlier. It raised earnings by 8 percent driven by a lower tax rate.
Morgan Stanley on Kotak Bank: The brokerage is 'overweight' on the stock and raised its target to Rs 700 per share from Rs 560 earlier. It raised earnings by 8 percent driven by a lower tax rate.
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