Indian shares are expected to open lower on Thursday as global markets extended losses over concerns that the coronavirus outbreak is turning into a pandemic. Among brokerages, Macquarie is bullish IndusInd Bank, while UBS raises the target price of Nestle India. Here are the top brokerage calls for the day:
UBS on Nestle India: The brokerage maintained a 'buy' call on the stock and raised the target price to Rs 19,250 per share from Rs 17,000 earlier.
Macquarie on IndusInd Bank: The brokerage believes the stock is trading at cheap valuations currently. It maintained an 'outperform' call on the stock with a target price at Rs 1,558 per share.
Nomura on Axis Bank: The brokerage maintained a 'buy' call on the stock with a target at Rs 1,050 per share. It reiterated a positive stance as the retail asset business continued to outperform.
Morgan Stanley on Cipla: The brokerage maintained an 'equal-weight' call on the stock with a target price of Rs 578 per share. It estimates 1-2 years before the company can get Goa Unit back in compliance.
HSBC on Havells: The brokerage maintained a 'buy' call on the stock with a target of Rs 700 per share. It expects improvement from the next quarter.
HSBC on Autos: Scrappage scheme is the strongest positive potential catalyst for the sector, said the brokerage. It further noted that the scrappage value of any vehicle won't be significant enough to exchange offers.
Morgan Stanley on Oil & Gas: Correction in city gas stocks is mainly due to worries on open market access should be seen as an opportunity. The brokerage is 'overweight' on IGL with a target at Rs 525 per share.