Hot Stocks: Brokerage view on GAIL, ICICI Lombard, PNB Housing and Infosys

Brokerage firm Jefferies maintained an underperform rating on GAIL India, Morgan Stanley maintained an overweight on Infosys, PNB Housing, and ICICI Lombard.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Morgan Stanley on IT: Infosys, HCL Tech, Wipro

Morgan Stanley maintained an overweight rating on Infosys but slashed the target price to Rs 1750 from Rs 1820 earlier.

The global investment bank upgraded HCL Technologies to overweight from Equal-Weight earlier but slashed the target price to Rs 1730 from Rs 1750 earlier.

Morgan Stanley has an underweight rating on Wipro (Target Rs 450) and Tech Mahindra (Target Rs 1190). It has an Equal-Weight rating on LTIMindTree (Target Rs 4800) and Mphasis (Target Rs 2600).

Morgan Stanley on PNB Housing: Overweight| Target Rs 970

Morgan Stanley maintained an overweight rating on PNB Housing with a target price of Rs 970. CARE and ICRA upgraded Long term Rating to AA+.The global investment bank sees this development as positive for growth and profitability. It could further help improve both availability and cost of borrowing.The development is likely to benefit loan spreads and loan growth over a period of time.

Morgan Stanley on ICICI Lombard: Overweight| Target Rs 1875

Morgan Stanley maintained an overweight rating on ICICI Lombard with a target price of Rs 1875.

ICICI Lombard held an analyst meeting focusing on its tech and digital efforts. Its Q3FY24 GWP from app has risen ~3.2x YoY, while 9MFY24 GWP from digital partnerships has risen 4x.

The company continues to focus on customer engagement, fraud detection, and driving efficiency. It has developed several data-driven solutions to business problems.

Jefferies on GAIL India: Underperform| Target Rs 150

Jefferies maintained an underperform rating on GAIL India with a target price of Rs 150. PNGRB issued unchanged Unified Tariffs. The current tariff structure is already factored in.

Order does not refer to the higher gas cost of GAIL. The risk-to-reward ratio is unfavourable.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)