Brokerage Radar: Morgan Stanley says valuations are attractive at current levels for M&M whereas Nomura has maintained its 'reduce' rating on Cummins' stock. Here are top brokerage calls for this morning:
Jefferies on NMDC | The price is at a 40 percent discount as compared to 35 percent historical average, Jefferies said. The brokerage firm does not see much room for any hikes in its falling steel price base case for NMDC.
Morgan Stanley on Mahindra & Mahindra | Valuations appear attractive at current levels for M&M, according to Morgan Stanley.
BofA Securities on Zomato | The brokerage firm has reiterated its 'buy' rating on benign regulations and strong revenue growth rate.
Nomura on Cummins | The company management has refrained from sales guidance for FY22, Nomura pointed out. The brokerage has maintained its 'reduce' rating on the stock.
Nomura on ABB | The company has been able to partly offset key headwinds, like supply chain disruptions and commodity price surge, by volume growth and higher realisations, Nomura highlighted. The brokerage firm has a 'neutral' rating on ABB shares.