Thursday’s top brokerage calls: M&M, Indian Oil and more
CLSA on M&M: The brokerage has a ‘buy’ call on the stock but cut the target to Rs 1,060 per share. CLSA sees weak tractor volumes in FY22 and delays in new SUV launches.CLSA on Hindalco: The brokerage has a ‘buy’ call on the stock with a target at Rs 490 per share. It sees significant upside risk to consensus for the firm and expects aluminum metal prices to remain resilient.Morgan Stanley on IOC: The brokerage is ‘overweight’ on the stock with a target at Rs 139 per share. It expects the firm’s integrated margin to rise further.Jefferies on IOC: The brokerage has a ‘hold’ call on the stock with a target at Rs 100 per share. It expects marketing profitability to be restored for the firm as crude prices cool and retail price hikes continue.JPMorgan on IOC: The brokerage is ‘overweight’ on the stock with a target at Rs 147 per share. It sees a sharp improvement in the company’s underlying operating performance.
