Top brokerage calls for December 9: Morgan Stanley maintains ‘overweight’ on Bharti Airtel, Grasim; Citi recommends ‘buy’ on Jubilant Food
Morgan Stanley on Financials: Morgan Stanley expects the year 2020 to be a fairly weak one for the Indian financial sector due to slower loan growth.Edelweiss on Aviation: The brokerage expects SpiceJet’s capacity growth to surge as 737 Max additions resume from April and expects SpiceJet to win substantial market share from IndiGo.Credit Suisse on Consumption Sector: Credit Suisse feels the government spending is likely to be cut sharply in H2 due to shortfall in tax collections.Morgan Stanley on Bharti Airtel: Morgan Stanley maintains an ‘overweight’ rating on Bharti Airtel, says the recent tariff hike is a step in the right direction.Morgan Stanley on Embassy Reit: Morgan Stanley maintains an ‘overweight’ call on Embassy REIT with a target of Rs 437 per share as it believes upcoming project completions (1.4 msf) in H2F20 are on track.Morgan Stanley on Grasim: Morgan Stanley is ‘overweight’ on Grasim, says the reduction in Holdco discount will be a bigger stock price driver. The brokerage maintains an ‘overweight’ rating with a TP of Rs 875/sh.CLSA on Inox Leisure: CLSA maintains a ‘buy’ rating on Inox Leisure with a target price of Rs 450/Sh. The brokerage believes the company will continue with strong organic screen expansion. The company’s management dismissed an immediate threat from OTTs while the brokerage believes OTTs are complimentary for multiplexes.Citi on Jubilant Food: Citi maintains a ‘buy’ call on Jubilant Food and says the company is well placed in an attractive Indian food services market.
