Hot Stocks: Brokerage view on RIL, IOC, PCBL and ICICI Bank
RIL and an overweight rating on Indian Oil Corporation (IOC). Sharekhan recommended a buy on ICICI Bank and ICICIdirect has a buy rating on PCBL.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on RIL: Overweight| Target Rs 3046
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-108575605»>Morgan Stanley maintained an overweight rating on Reliance Industries with a target price of Rs 3046.
The brokerage firm believes that the share price will rise in absolute terms over the next 60 days. As global fuel markets tighten up, chemical margins show signs of improvement. Net debt is also showing signs of reduction.
Cheaper global ethane prices should add to the upside as well. Tailwinds of multiple catalysts are coming together.
Morgan Stanley on IOC: Overweight| Target Rs 191
Morgan Stanley maintained an overweight rating on IOC with a target price of Rs 191. The global investment bank believes that the share price will rise in absolute terms over the next 60 days.
The recent retail fuel cut was at the lower end of our expectation, removing a key overhang, said the note.
Morgan Stanley believes that IOCL remains the main beneficiary as India's largest refiner. It expects earnings upcycle driven by above mid-cycle integrated margins.
Sharekhan on ICICI Bank: Buy| Target Rs 1300
Sharekhan maintained a buy rating on ICICI Bank with a target price of Rs 1300. Pressure on net interest margins (NIMs) is likely to persist in the near term, but we still see the bank sustaining its RoA at over ~2% in the near to
