Monday's top brokerage calls: IGL, JSW Energy, Adani Ports and more

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CLSA on IGL: The brokerage upgraded the stock to 'buy' as it finds the PSU a good re-opening play with a rebound in mobility. It has a target of Rs 630 per share for the stock. It added that the recent underperformance to MGL, Gujarat Gas provides a good entry point.

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Nomura on IGL: The brokerage has a 'buy' call on the stock with a target at Rs 650 per share. While it sees upside risks to FY22-23 earnings, the brokerage expects city gas companies to pass the bulk of sharp domestic gas price hike in the second half of the FY22.

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Macquarie on IGL: The brokerage maintains an 'outperform' rating on the stock and raises the target to Rs 600. It also increased FY23 EPS by 6 percent on a better margin outlook.

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Citi on JSW Energy: The brokerage has a 'buy' call on the stock with a target at Rs 178 per share. It believes the firm is embarking on the next leg of growth through the creation of 2.5 GW of renewable capacity.

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CLSA on ONGC: The brokerage upgraded the stock to 'buy' with a target at Rs 165 per share. CLSA believes using a spot rate would take up the fair value to Rs 260 per share. The stock is pricing in Brent of only $51 per bbl.

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JPMorgan on Bharti Airtel: The brokerage is 'overweight' on the stock with a target at Rs 760 per share. It expects continued share gains supported by superior network quality to drive re-rating for Bharti Airtel.

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CLSA on Cement: The brokerage is positive on the Cement sector but sees limited room for re-rating with sector valuations above the 5-year median. It added that Dalmia Bharat and UltraTech Cement are its preferred picks.

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Goldman Sachs on Adani Ports: The brokerage maintains a 'buy' call on the stock with a target at Rs 760 per share. It expects growth to remain strong in the near to medium term.