• SENSEX
    NIFTY 50
Market

Top brokerage calls for November 1: Jefferies, Nomura maintain 'buy' on IOC; Morgan Stanley 'underweight' on YES Bank

Updated : 2019-11-01 07:47:39

Indian Oil Corp (IOC) on Thursday reported an 83 percent drop in second-quarter net profit on the back of a slump in refinery margins and inventory losses. Net profit in July-September at Rs 564 crore versus Rs 3,247 crore in the year-ago period. Post Q2 earnings, both Jefferies and Nomura maintained a 'buy' rating on the stock. Here are the top brokerage calls for Friday:

 Jefferies on Indian Oil:  The brokerage has a 'buy' rating on the stock but cut its target price to Rs 200 per share from Rs 215 earlier. The brokerage also lowered its EBITDA estimate by 6-8 percent for FY19-21. It added that lower other income and higher than estimated interest costs are headwinds too.
Jefferies on Indian Oil: The brokerage has a 'buy' rating on the stock but cut its target price to Rs 200 per share from Rs 215 earlier. The brokerage also lowered its EBITDA estimate by 6-8 percent for FY19-21. It added that lower other income and higher than estimated interest costs are headwinds too.
 Nomura on Indian Oil:  The brokerage maintains a 'buy' call on the stock with a target at Rs 170 per share. After recovering in Q2, the refining margin has been weak so far in Q3, noted the brokerage. It also added that near-term focus will be on the government's planned stake sale in OMCs.
Nomura on Indian Oil: The brokerage maintains a 'buy' call on the stock with a target at Rs 170 per share. After recovering in Q2, the refining margin has been weak so far in Q3, noted the brokerage. It also added that near-term focus will be on the government's planned stake sale in OMCs.
 Morgan Stanley on YES Bank:  The brokerage is 'underweight' on the stock with a target at Rs 55 per share. Capital raise of $1.2 billion from a global investor is positive and will limit downside, said the broekrage, adding that it expects a gradual turnaround to limit upside.
Morgan Stanley on YES Bank: The brokerage is 'underweight' on the stock with a target at Rs 55 per share. Capital raise of $1.2 billion from a global investor is positive and will limit downside, said the broekrage, adding that it expects a gradual turnaround to limit upside.
 HSBC on Apollo Hospitals:  The brokerage retains 'buy' rating on the stock and raised its target to Rs 1,600 per share from Rs 1,525 earlier. The brokerage added that long-term outlook intact for the hospital business and that the core hospital business continues on the right path.
HSBC on Apollo Hospitals: The brokerage retains 'buy' rating on the stock and raised its target to Rs 1,600 per share from Rs 1,525 earlier. The brokerage added that long-term outlook intact for the hospital business and that the core hospital business continues on the right path.
Live TV
Advertisement