Stocks of the Moment: Brokerage maintains 'sell' call on this Maharatna; downgrades OMC PSU giant
Ahead of the marketing opening on Wednesday (May 22, 2024), brokerages such as Jefferies, CLSA, Nuvama, Morgan Stanley, and Bernstein picked shares such as ONGC, BHEL, SBI Cards, HCL Tech, LTI Mindtree, L&T Tech, Astral, Deepak Nitrite, and Oil India. Know brokerage calls and share price targets for these shares.
Stocks of the Moment: Following gains in global equities, the Indian share market started the session on Wednesday (May 22, 2024) in green with investors focused on minutes of the Federal Reserve's latest policy meeting for clues on rate cuts. The BSE Sensex was trading up by 135 points at 74,089.00, while Nifty 50 was up by 25.80 points at 22,554.85. Ahead of the marketing opening, brokerages such as Jefferies, CLSA, Nuvama, Morgan Stanley, and Bernstein picked shares such as ONGC, BHEL, SBI Cards, HCL Tech, LTI Mindtree, L&T Tech, Astral, Deepak Nitrite, and Oil India. Know brokerage calls and share price targets for these shares.
Jefferies on ONGC
Jefferies has maintained a 'buy' call on the oil manufacturer with a target price of Rs 390.
CLSA on BHEL
The brokerage has maintained a 'sell' call on the PSU major after the company reported lacklustre fourth-quarter results on Tuesday. The brokerage has cut the target price to Rs 189.
Morgan Stanley on SBI Cards
The brokerage has maintained an 'equalweight' on SBI Cards with a target price of Rs 750.
Nuvama on BHEL
Nuvama has maintained 'buy' stance on BHEL with a target price of Rs 400.
CLSA on Oil India (CMP Rs 664)
CLSA has downgraded Oil India to 'reduce' from 'buy', but the brokerage has raised its target price to Rs 690 from Rs 575.
Bernstein on L&T Tech
The brokerage has maintained an 'underperform' call on the company, cutting its target price to Rs 4,070.
Citi on ONGC
Citi has maintained a 'buy' call on ONCG with a target price of Rs 315.
Bernstein on HCL Tech
Bernstein has maintained 'market perform' stance on the company, cutting its target price to Rs 1,460.
Jefferies on Astral
Jefferies has maintained a 'hold' call on Astral with a target price of Rs 2,150.
Bernstein on LTI Mindtree
It has maintained a 'market perform' call on the company, cutting the target price to Rs 4,800.
Morgan Stanley on Deepak Nitrite (CMP Rs 2,517)
Morgan Stanley has maintained 'overweight' stance on Deepak Nitrate with a target price of Rs 2,985.