SUMMARY
Jefferies has initiated a 'buy' call on SBI Card with a target of Rs 900 per share, while Nomura has maintained a 'buy' rating on RIL, with a target of Rs 2,850 per share.

SBI Card | Jefferies has initiated a 'buy' call on SBI Card with a target of Rs 900 per share. The brokerage says penetration into the SBI base and co-branded tie-ups are likley to drive the gain in market share.
Bharat Electronics Ltd (BEL) | Jefferies has maintained a 'buy' call on BEL, with a target of Rs 125 per share. It says the company has been gaining shares in expenditure on the back of indigenisation.
Reliance Industries Ltd (RIL) | Nomura has maintained a 'buy' rating on RIL, with a target of Rs 2,850 per share. The brokerage says that the recent decline in the firm's share price has been underpinned by index-related sell-off.
Lupin | Nomura has maintained a 'buy' call on Lupin, with a target of Rs 856 per share. It says that it expects investors' concerns to remain high regarding the pharma company.
The Morgan Stanley Asia Equity Strategy has upgraded India to 'equal weight' and stay overweight on China, Taiwan and Korea.