homephotos Newsmarket Newsstocks NewsThese are Wednesday's biggest brokerage calls: Yes Bank, PNB and more

These are Wednesday's biggest brokerage calls: Yes Bank, PNB and more

SUMMARY

Indian markets are likely to open lower on Wednesday amid mixed global cues as investors watch for developments around government stimulus as the coronavirus continues its spread globally. Among brokerages, Citi has a 'sell' call on PNB, while Morgan Stanley is 'overweight' on Biocon. Here are the top broekrage calls for today:

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By CNBC-TV18 Mar 11, 2020 8:16:17 AM IST (Published)

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Citi on Punjab National Bank: The brokerage had a 'sell' call on the stock with the target price cut to Rs 40 from Rs 59 per share.

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Citi on Yes Bank: The brokerage revised rating to 'under review' from 'sell' given high uncertainties and price volatility.

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Citi on BPCL: The brokerage maintained a 'buy' call on the stock with the target at R 525 per share. It added that a 20 percent correction in the last one month provides an attractive entry point for investors.

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Morgan Stanley on Biocon: The brokerage had an 'overweight' call on the stock with the target price at Rs 355 per share.

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Morgan Stanley on IndiGo: The brokerage had an 'overweight' call on the stock with the target price of Rs 2,057 per share. The rising number of COVID-19 cases poses a risk to passenger traffic growth, it added.

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Kotak on Metals: The brokerage reduced FY21 EBITDA for steel companies by 8-11 percent. It also cut the target price for Tata Steel, JSPL, and JSW Steel.

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Credit Suisse on Financials: As per reports, SBI may step up capital infusion into Yes Bank to $1 billion, said the brokerage, adding that with other investors likely coming in, clean-up burden for the SBI will be lower.

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CLSA on Cadila Healthcare: The brokerage maintained a 'buy' call on the stock with the target at Rs 330 per share. It added that the FMCG business can deliver double-digit revenue growth.

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