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Top brokerage calls for September 25: Morgan Stanley downgrades SBI; HSBC raises target price for Titan

Updated : 2019-09-25 08:21:28

The Indian market is likely to remain weak, tracking global shares, which were trading lower after the US lawmakers called for an impeachment inquiry into President Donald Trump, raising the prospects of prolonged political uncertainty in the world's largest economy. At 7:37 am, the SGX Nifty futures traded 0.26 percent or 30 points lower at 11,602, indicating a negative start for Sensex and Nifty. Among brokerages, Morgan Stanley downgraded SBI to 'equal-weight', but is 'overweight' on HDFC Bank. HSBC upgraded Titan to 'buy' and Macquarie is 'neutral’ on Zee Entertainment. Here are the top brokerage calls for Wednesday:

<strong>Morgan Stanley on SBI:</strong> The brokerage downgraded the stock to 'equal-weight' from 'overweight' with a target of Rs 330 per share. It added that upside appears limited given uncertainty on asset quality and net interest margin.
Morgan Stanley on SBI: The brokerage downgraded the stock to 'equal-weight' from 'overweight' with a target of Rs 330 per share. It added that upside appears limited given uncertainty on asset quality and net interest margin.
<strong>Morgan Stanley on HDFC Bank:</strong> The brokerage is 'overweight' on the stock with a target of Rs 1,700 per share. The brokerage sees big upside in the stock despite recent performance. It added that technology is helping reduce the incremental cost of service near zero.
Morgan Stanley on HDFC Bank: The brokerage is 'overweight' on the stock with a target of Rs 1,700 per share. The brokerage sees big upside in the stock despite recent performance. It added that technology is helping reduce the incremental cost of service near zero.
<strong>HSBC on Titan:</strong> The brokerage upgraded Titan to 'buy' and raised its target price to Rs 1,450 per share from Rs 1,200 earlier. HSBC views Titan as a long-term structural winner, well-positioned to monetise ongoing shift from unorganised to organised jewellery in India.
HSBC on Titan: The brokerage upgraded Titan to 'buy' and raised its target price to Rs 1,450 per share from Rs 1,200 earlier. HSBC views Titan as a long-term structural winner, well-positioned to monetise ongoing shift from unorganised to organised jewellery in India.
<strong>Macquarie on Zee Entertainment</strong>: The brokerage is 'neutral' on the stock with a target of Rs 375 per share. According to the brokerage, an extension is negative for minority shareholders due to the prolonged uncertainty and would have preferred a timely conclusion of the deal in one go. It also added that the fall in stock price and uncertainty casts a shadow on the value of second stake sale.
Macquarie on Zee Entertainment: The brokerage is 'neutral' on the stock with a target of Rs 375 per share. According to the brokerage, an extension is negative for minority shareholders due to the prolonged uncertainty and would have preferred a timely conclusion of the deal in one go. It also added that the fall in stock price and uncertainty casts a shadow on the value of second stake sale.
<strong>CLSA on Varun Beverages:</strong> The brokerage is bullish on the stock and raised its target to Rs 860 per share from Rs 783 earlier. CLSA raises earnings by 9-14 percent to factor in a strong Q2 and reduced corporate tax rates.
CLSA on Varun Beverages: The brokerage is bullish on the stock and raised its target to Rs 860 per share from Rs 783 earlier. CLSA raises earnings by 9-14 percent to factor in a strong Q2 and reduced corporate tax rates.
<strong>Morgan Stanley on TVS Motor:</strong> The brokerage is 'underweight' on the stock with a target of Rs 326 per share. It believes that the share price will fall relative to index over the next 30 days and added that competitive intensity in the 2-wheeler industry remains very high.
Morgan Stanley on TVS Motor: The brokerage is 'underweight' on the stock with a target of Rs 326 per share. It believes that the share price will fall relative to index over the next 30 days and added that competitive intensity in the 2-wheeler industry remains very high.
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