Wednesday's top brokerage calls: Paytm and Hindustan Unilever

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• 1 / 5

Morgan Stanley on Paytm | The brokerage has maintained its 'overweight' rating on Paytm shares. The company has built a strong customer acquisition engine through payments and it is now expanding into financial services at low incremental cost, Morgan Stanley added.

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• 2 / 5

Goldman Sachs on Paytm | The brokerage believes Paytm is well-positioned given its industry-leading scale and engagement. Goldman Sachs has maintained its 'neutral' recommendation on Paytm.

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• 3 / 5

Macquarie on Hindustan Unilever | The brokerage firm's checks indicate continued weakness in rural demand and it believes that sharp product price hikes will cover inflation but could weigh on Q3 volumes. Macquarie has a 'buy' call on HUL's stock.

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• 4 / 5

Nomura on HUL | The brokerage noted that rural growth decelerates while the urban segment sees recovery. Nomura has maintained its 'buy' rating on shares of HUL.

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• 5 / 5

Citi on HUL | Citi expects higher pricing-led growth in the near term to drive steady revenue growth for HUL. The brokerage believes the FMCG player is navigating market challenges and rural growth deceleration reasonably well.