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Tuesday's biggest brokerage calls: OMCs, L&T and more

Updated : 2020-03-31 08:12:17

Indian equity markets are likely to open in the green, following gains in Asian peers, as China factory data showed hopes of a rebound in activity. Gains, however, may be capped as most other countries continued to witness lockdown to contain the virus. Among brokerages, Credit Suisse upgraded all three OMCs but cut their target price. Here are the top brokerage calls for today:

 Credit Suisse on OMCs:  The brokerage upgraded all three OMCs to 'neutral' from 'underperform' given valuation support but cut their target price. It added that Q1FY21 should have the highest hit to volumes and margins.
Credit Suisse on OMCs: The brokerage upgraded all three OMCs to 'neutral' from 'underperform' given valuation support but cut their target price. It added that Q1FY21 should have the highest hit to volumes and margins.
 Morgan Stanley on Pharma:  USFDA issued Emergency Use Authorisation (EUA) for HCQS & Chloroquine for COVID-19, said the brokerage, adding that the Federal agencies are working together to plan clinical trials. Cadila Health, and Ipca Labs are prominent manufacturers in India, it said.
Morgan Stanley on Pharma: USFDA issued Emergency Use Authorisation (EUA) for HCQS & Chloroquine for COVID-19, said the brokerage, adding that the Federal agencies are working together to plan clinical trials. Cadila Health, and Ipca Labs are prominent manufacturers in India, it said.
 Credit Suisse on L&T:  The brokerage upgraded L&T to outperform, but cut its target price to Rs 1,100 per share from Rs 1,325 earlier. Trading below 10x on lower earnings can be a worst-case scenario, it added.
Credit Suisse on L&T: The brokerage upgraded L&T to outperform, but cut its target price to Rs 1,100 per share from Rs 1,325 earlier. Trading below 10x on lower earnings can be a worst-case scenario, it added.
 Credit Suisse on Reliance Industries:  The brokerage maintained a 'neutral' call on the stock but cut its target price to Rs 1,150 from Rs 1,400 earlier. It expects refining demand to be weak for the next two quarters.
Credit Suisse on Reliance Industries: The brokerage maintained a 'neutral' call on the stock but cut its target price to Rs 1,150 from Rs 1,400 earlier. It expects refining demand to be weak for the next two quarters.
 Morgan Stanley on Lupin:  The brokerage was overweight on the stock with the target price at Rs 948 per share. Fostair & bEnbrel are the two niche drugs planned for Europe in H2FY21 and the brokerage expects Fostair to be a limited competition product.
Morgan Stanley on Lupin: The brokerage was overweight on the stock with the target price at Rs 948 per share. Fostair & bEnbrel are the two niche drugs planned for Europe in H2FY21 and the brokerage expects Fostair to be a limited competition product.
 Credit Suisse on IndiGo:  The brokerage maintained an outperform rating on the stock with a target price of Rs 1,850 per share. It reiterated outperform on strong long-term growth.
Credit Suisse on IndiGo: The brokerage maintained an outperform rating on the stock with a target price of Rs 1,850 per share. It reiterated outperform on strong long-term growth.
 Morgan Stanley India Strategy:  Structural trend in domestic flows will be unaffected till macro stability is maintained, said the brokerage. It added that flows tend to turn weak and negative closer to the end of the bear market.
Morgan Stanley India Strategy: Structural trend in domestic flows will be unaffected till macro stability is maintained, said the brokerage. It added that flows tend to turn weak and negative closer to the end of the bear market.
 Morgan Stanley on Utilities:  The brokerage reiterated 'overweight' call on regulated utilities - NTPC and Power Grid. It added that it is not clear if SEBs will extend the three-month moratorium to retail consumers.
Morgan Stanley on Utilities: The brokerage reiterated 'overweight' call on regulated utilities - NTPC and Power Grid. It added that it is not clear if SEBs will extend the three-month moratorium to retail consumers.
 Morgan Stanley on HCL Tech:  The brokerage had an 'equal-weight' call on the stock with the target price at Rs 525 per share. Morgan Stanley does not expect a significant impact from COVID-19 in the current quarter for HCL Tech.
Morgan Stanley on HCL Tech: The brokerage had an 'equal-weight' call on the stock with the target price at Rs 525 per share. Morgan Stanley does not expect a significant impact from COVID-19 in the current quarter for HCL Tech.
 Morgan Stanley on Financials:  The brokerage expects banks to reduce deposit/lending rates. It said that a 50 basis point rate cut at private banks could help improve margins by 5-15 basis points.
Morgan Stanley on Financials: The brokerage expects banks to reduce deposit/lending rates. It said that a 50 basis point rate cut at private banks could help improve margins by 5-15 basis points.
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