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Monday’s top brokerage calls: JSW Steel, Hindalco Industries and more

SUMMARY

Morgan Stanley believes JSW Steel is well-positioned to deliver among the strongest volume growth. Here are the top brokerage calls for today:

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By CNBC-TV18 May 24, 2021 9:11:23 AM IST (Published)

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Morgan Stanley on JSW Steel | The brokerage maintains an Overweight stance on JSW Steel and has raised the target price to Rs 920 per share from Rs 590 earlier as it believes the company is well-positioned to deliver among the strongest volume growth.

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CLSA on JSW Steel | CLSA maintains an Outperform call on JSW Steel with a target price of  Rs 740 per share. CLSA believes at 2.4x FY23 PB, the valuations look fair.

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CLSA on Hindalco Industries | CLSA maintains a Buy rating on the stock with a target at Rs 500 per share,

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Citi on Hindalco Industries | Citi said that every $100/t change in LME impacts the company's EBITDA by 3-4 percent. Citi maintains a Buy call with a target at Rs 480 per share.

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Kotak Institutional Equities on Hindalco Industries | The brokerage house maintains a Buy rating with a target price of Rs 500 per share.

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Nomura on Shree Cement | Nomura maintains a Reduce rating on Shree Cement with a target price of Rs 26,500 per share. It believes Q1 volumes may be impacted by lockdowns and margin by rising input costs.

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Goldman Sachs on Shree Cement | The brokerage maintains a Neutral call on Shree Cement and expects the company's profitability to be impacted in the coming quarters.

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JPMorgan on Dr Lal PathLabs | The brokerage maintains an Underweight stance on Dr Lal PathLabs and a target at Rs 2,200 per share. It said that valuations look stretched at current levels.

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Goldman Sachs on Dr Lal PathLabs | The brokerage maintains Buy rating with a target price of Rs 3,210 per share.

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CLSA on Dr Lal PathLabs | CLSA maintains a Sell call on Dr Lal PathLabs with a target price of Rs 2,430 per share and said that the company's long term story remains intact.

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JPMorgan on Dr Lal PathLabs | JPMorgan believes that the near term remains uncertain in the wake of the second COVID wave.

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