Indian markets are likely to open in the green for a second consecutive day on Wednesday supported by gains in the global markets. Asian and US markets edged higher amid hopes the worst of the coronavirus in China may be over. Among stocks, Jefferies is bullish on Coal India but cut its target price, while Kotak has a 'sell' call on Siemens. Here are the top brokerage calls for today:
Jefferies on Coal India: The brokerage had a 'buy' rating on the stock but cut its target price to Rs 255 per share from Rs 265 earlier. It added that frequent government stake sale remained a key overhang.
Jefferies on Siemens: The brokerage had an 'underperform' call on the stock with the target at Rs 1,230 per share. It added that over the next 12-18 months, the company has downside risk on revenue growth.
Kotak on Siemens: The brokerage maintained a 'sell 'call on the stock with the target at Rs 1,200 per share. FY20 may be a year of flattish execution after 3 years of good growth for Siemens, Kotak said.
Morgan Stanley on Hexaware: The brokerage was 'equal-weight' on the stock with the target at Rs 370 per share. Guidance for CY20 is already reflected in expectations, it added.
Nomura on Hexaware: The brokerage maintained a 'neutral' call on the stock but raised the target to Rs 380 per share from Rs 355 earlier. Nomura expects the company to deliver dollar revenue growth of 10.8 percent over FY19-22.
Morgan Stanley on BHEL: The brokerage was 'underweight' on the stock with a target at Rs 37 per share. Slower execution could be due to delayed receivables, noted the brokerage.
Jefferies on BHEL: The brokerage had an 'underperform' rating on the stock but cut its target to Rs 33 from Rs 37 earlier. It believes that generation capex will remain muted due to overcapacity.