Wednesday's top brokerage calls: IndusInd Bank, Dr Reddy's, Canara Bank, and more

UBS on IndusInd Bank: The brokerage has a 'neutral' rating on the stock with the target at Rs 1,100 per share. The brokerage says its first-quarter results were in line with subdued expectations and the management expects the second half of 2021 to see accelerated loan growth.

Morgan Stanley on Canara Bank: The brokerage has an 'underweight' rating on the stock with the target at Rs 155 per share. It noted that the lender's coverage and capital ratios are lower than its peers.

CLSA on IndusInd Bank: The brokerage has a 'buy' call on the stock with the target at Rs 1,350 per share. It noted that the lender is delivering on granularity and stability and its first-quarter PPoP is in line with estimates.

CLSA on Ramco Cements: The brokerage has downgraded the stock to give it an 'underperform' rating from the 'outperform' rating, with the target at Rs 1,060 per share. The brokerage says the company's volume growth remains elusive.

CLSA on Dr Reddy's: The brokerage has a 'buy' call on the stock with the target at Rs 5,930 per share. The brokerage said the company's margin profile should improve in the coming quarters on limited competition in the US launches.

JPMorgan on Torrent Pharma: The brokerage has a 'neutral' rating on the stock with the target at Rs 2,750 per share. The brokerage noted that the key surprise the company gave in its first-quarter results was its SG&A cost was lower than the previous year's.

Morgan Stanley on DLF: The brokerage has an 'overweight' rating on the stock with the target at Rs 399 per share. It noted that the company has started to show consistency in key deliverables of pre-sales and de-leveraging.

CLSA on Torrent Pharma: The brokerage has a 'buy' call on the stock with the target at Rs 3,650 per share. The brokerage said the company has a strong India positioning and is improving the outlook for its exports.