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Top brokerage calls for August 28: Morgan Stanley 'overweight' on Petronet LNG; HSBC bullish on UPL, PowerGrid

Updated : 2019-08-28 08:11:59

Indian shares are set for a flat start ahead of the expiry of future and derivative contracts amid muted trades in global markets. On Tuesday, Indian benchmark indices the Sensex and the Nifty50 ended higher for the third straight session on the hopes of further stimulus after the central bank approved a transfer of excess capital to the government. Among brokerages, HSBC is positive on UPL and PowerGrid, while, Morgan Stanley is 'overweight' on Petronet LNG. Here are the top brokerage calls for Wednesday:

<strong>Morgan Stanley on Petronet LNG:</strong> The brokerage is overweight on the stock with a target at Rs 286 per share. The brokerage maintains a positive view as it sees upside risks from rising LNG demand, which could benefit the company.
Morgan Stanley on Petronet LNG: The brokerage is overweight on the stock with a target at Rs 286 per share. The brokerage maintains a positive view as it sees upside risks from rising LNG demand, which could benefit the company.
<strong>HSBC on UPL:</strong> The brokerage has a 'buy' call on the stock but cut its target to Rs 720 per share from Rs 750 earlier. According to the brokerage, China soybean imports from Brazil remain soft, while, trade tensions could support Brazil exports again and benefit the company. African swine fever remains a concern, it adds.
HSBC on UPL: The brokerage has a 'buy' call on the stock but cut its target to Rs 720 per share from Rs 750 earlier. According to the brokerage, China soybean imports from Brazil remain soft, while, trade tensions could support Brazil exports again and benefit the company. African swine fever remains a concern, it adds.
<strong>HSBC on PowerGrid:</strong> The brokerage is bullish on the stock with a target at Rs 230 per share. The recent Central Electricity Regulatory Commission (CERC) order allows temporary non-payment of transmission charge by discoms but the burden of non-payment of transmission charges may fall on the company, the brokerage says, adding that delay in execution of projects could hamper the company’s growth prospects.
HSBC on PowerGrid: The brokerage is bullish on the stock with a target at Rs 230 per share. The recent Central Electricity Regulatory Commission (CERC) order allows temporary non-payment of transmission charge by discoms but the burden of non-payment of transmission charges may fall on the company, the brokerage says, adding that delay in execution of projects could hamper the company’s growth prospects.
<strong>HSBC on IPCA Labs:</strong> The brokerage is positive on the stock and raised its target to Rs 1,090 from Rs 1,020 per share. The outlook remains strong for base business, says HSBC, adding that US Food and Drug Administration (FDA) clearance would add to the company's base growth.
HSBC on IPCA Labs: The brokerage is positive on the stock and raised its target to Rs 1,090 from Rs 1,020 per share. The outlook remains strong for base business, says HSBC, adding that US Food and Drug Administration (FDA) clearance would add to the company's base growth.
<strong>Citi on Jubilant FoodWorks:</strong> The brokerage has a 'buy' rating on the stock with a target at Rs 1,400 per share. The recent launch of Hong’s Kitchen is its first attempt to create its own-brand, the brokerage says. It adds that the company is one of the few consumer stocks where there is valuation support.
Citi on Jubilant FoodWorks: The brokerage has a 'buy' rating on the stock with a target at Rs 1,400 per share. The recent launch of Hong’s Kitchen is its first attempt to create its own-brand, the brokerage says. It adds that the company is one of the few consumer stocks where there is valuation support.
<strong>Kotak Institutional Equities on Marico:</strong> The brokerage has 'add' rating on the stock with a target at Rs 400 per share. It is one of their preferred picks even as recent strength leaves little upside, the brokerage says. Recent strength does mean a buy-on-dips stance, for now, it adds.
Kotak Institutional Equities on Marico: The brokerage has 'add' rating on the stock with a target at Rs 400 per share. It is one of their preferred picks even as recent strength leaves little upside, the brokerage says. Recent strength does mean a buy-on-dips stance, for now, it adds.
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