UBS has maintained a 'neutral' rating on Infosys with a target of Rs 1,450. JPMorgan remains 'overweight' on Tata Steel. Here are the top brokerage calls for the day:
Morgan Stanley on insurance: SBI Life and HDFC Life saw a strong two-year CAGR of 20 percent, while ICICI Prudential Life also registered a pickup in growth, according to the brokerage.
CLSA on insurance: SBI Life is the brokerage's top pick among life insurers, as it leads listed peers with strong growth of 67 percent, while HDFC Life and ICICI Prudential saw growth of 34-37 percent. There could be upside to annual premium equivalent (APE) and value of new business (VNB) estimates if current trends continue, according to CLSA.
JPMorgan on steel: China's production curbs are positive for Indian steelmakers, according to the brokerage. JPMorgan remains overweight on Tata Steel, and expects its recent underperformance to revert.
UBS on Infosys: The brokerage has maintained a 'neutral' rating on the stock with a target price of Rs 1,450. The company's mega deal ramp-up should power its strength in Q2, but a revision in revenue guidance to 15-17 percent is needed for further upside, UBS said.