Hot Stocks: Brokerages on Reliance Industries, Delhivery and Infosys

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


Morgan Stanley on : Overweight| Target Rs 3085

Morgan Stanley maintained an overweight rating on Reliance Industries with a target price of Rs 3085. The earnings upgrade cycle is taking shape with the new investment cycle, said the note.

The supply side challenges should keep the refining margins high, it said. Consumer retail is seeing good traction on store additions, the note added.

Citigroup on Delhivery: Buy| Target Rs 688

Citigroup maintained its buy rating on Delhivery with a target price of Rs 688. Festive season e-commerce sales appear to be off to a strong start, said the note.

However, the global investment bank revises down FY23E e-commerce parcel volume estimates by 6%.

Morgan Stanley on IT sector: Prefer Infosys over TCS

Morgan Stanley in a note on the IT sector highlighted that it prefers Infosys over TCS with a target price of Rs 1,550.

The global investment bank is of the view that margin-led EPS downgrades are likely to continue for the IT sector in Q2. QoQ growth rates should be in line or better than Q1, said the note.

The lack of FY2023 revenue guidance revision implies a tough outlook for H2. It prefers Infosys over TCS, and

over L&T Technology Services. The global investment bank has a target price of Rs 1550 on Infosys.

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