HCL Tech, Wipro and more: Monday’s top brokerage calls
SUMMARY
Morgan Stanley has maintained an ‘equal-weight call’ on HCL Tech with a target price of ₹1,600 per share, while Nomura has maintained a ‘reduce’ rating on Wipro with a target price of ₹410 per share.
HCL Tech | Morgan Stanley has maintained an ‘equal-weight call’ on HCL Tech with a target price of ₹1,600 per share. It says the company posted superior third quarter performance but was equal weight on relative valuations.
Wipro | Morgan Stanley has maintained an ‘underweight’ rating on Wipro with a target of ₹460 per share. It says the company is showing initial signs of change in business mix, but it is too early to call a trend.
Wipro | Nomura has maintained a ‘reduce’ rating on Wipro with a target price of ₹410 per share. It says the company’s weak guidance for the fourth quarter and soft deal wins is keeping the brokerage cautious.
Avenue Supermarts | Morgan Stanley has maintained an ‘overweight’ rating on Avenue Supermarts with a target of ₹4,471 per share. It says the company’s network expansion remains a key monitorable factor.
