Morgan Stanley

Sun Pharmaceutical Industries Rating: Showing in second quarter weak

We believe the market is underestimating the upfront costs of building US specialty and overestimating the pace of pick-up in US generic business. Rich valuation also keeps us Underweight.

Sun Pharmaceuticals, sun pharma, usfda, us, india News

Market volatility likely to rise ahead of elections, bet on GARP

A good portfolio strategy would be to bet on GARP (growth at a reasonable price) stocks among banks, discretionary consumption and industrials – both large and mid-caps.

Markets News

Analyst corner: Ashok Leyland poised for 12% FY19 volume growth

Ashok Leyland has outperformed the Nifty Auto Index by 23% over the last 12 months as truck volumes have been strong and AL has maintained market share.

Markets News

Domestic investors to drive incremental equity demand, India will remain in the midst of a domestic liquidity supercycle

On various valuation models we use, the long-term growth that seems priced into Indian equities is tolerable.

Money News

Good news for investors! Stocks likely to rise over next 60 days

A host of upcoming catalysts behind the good outlook; recent fall makes short-term valuations compelling; ‘OW’ retained.

investors, stock News

Hathway: Acquisition or tie-up is a key upside catalyst

Hathway plans to launch 300 Mbps, 2TB monthly data plans in Chennai from October 10 and pan-India from December 2018.

Industry News

HDFC Bank: Market conditions will help improve profitability

HDFC Bank is extremely well placed to keep gaining share in all parts of loans – retail, MSME, corporate. Digital will keep driving cost ratios down.

Markets News

HDFC AMC has all makings of best play in MF space

We have a structurally bullish view on Indian mutual funds and HDFC AMC offers all the ingredients to be the best play in the space.

HDFC, HDFC AMC, Equity, financial savings, india financial savings, equity mutual funds, money News

All ingredients to be best play in MF space

While valuation is lofty, earnings compounding should drive returns; initiated at ‘Overweight’ with TP of Rs 2,050

Markets News

Maharashtra’s 2025 agenda: Why state’s $1 trillion GDP target could make it India’s growth engine

Aiming at a GDP of $1 trn, the state is likely to be India’s growth engine for the next half a decade. If the CM’s agenda goes as planned, Maharashtra will account for 20% of India’s GDP in 2025. The state contributes a

Economy News

Biocon Rating: Biosimilar monetisation to yield dividends

The last two years were all about regulatory submissions and manufacturing facility clearance for Biocon’s four key biosimilar assets. The next two years should be all about their monetisation and entry of new products in t

biocon, biocon rating, monetisation, Sandoz, Mylan  News

Reliance industries: Morgan Stanley rates ‘overweight’, says stage set for a turnaround in earnings

RIL stock has been range-bound year-to-date, but we see the stars aligning for it to break toward our price target as diesel, polyester and retail margins step up to a new normal, telecom subscriber growth sets new benchmarks

Reliance industries, ril, mukesh ambani, Morgan Stanley, capex, reliance earnings News

Maintain ‘EW’ on Bank of Baroda; bad loans likely to moderate by April

Underlying trends in asset quality were good, with lower impaired loans and higher coverage – bank guided to watch list of 2.2% of loans.

Bank of Baroda, bad loans, RBI, CASA ratio, PSU banks, EW rating News

Strong showing at home and in Europe

Consolidated Ebitda was above estimates; quarter results and positive outlook bode well for near-term earnings.

europe, economy News

Equity strategy: Markets still have value stocks to offer, says Morgan Stanley

The market is unlikely to become “cheaper” without the level of confidence in future growth or the future growth estimate going down.

India’s most popular stocks are drawing sighs from value investors, given their headline valuations, but equity markets still have a lot of value stocks to offer News

Analyst Corner: Maintain ‘underweight’ on Wipro; valuation to be cheap

Wipro's commentary on deal trajectory, client mining and strength in digital was positive, which leads it to believe growth could come back in 2Q19.

Wipro continues to under perform our revenue growth and margin expectations due to portfolio-specific issues that we think are likely to play out in Q119 as well. News

Private insurers saw high growth again

Their market share grew to 56% in FY18; premium growth in March was muted owing to a strong base

Indian insurers’ premiums grew 19% y-o-y in FY18 vs. 21% y-o-y last year. News

Zomato’s financials for FY18 encouraging, Morgan Stanley rates it ‘overweight’

Zomato released its key financials and metrics for FY18; we find these encouraging and believe that if momentum continues, the company could be well on course to achieving or beating our estimates.

Zomato, Zomato revenue, Morgan Stanley, food ordering, zomato food ordering News

Stock market strategy: In 2017, Morgan Stanley explains what won

2017 was marked by a strong and uptrending market with few factors seeing consistent strong performance. Buying high beta, 12M performance and avoiding high RoE stocks was the most productive approach for the year.

stock market in 2017, 2017 stock market ups and downs, stock market performance in 2017 News

Tata Steel: Expansion to aid medium-term growth

The company has announced a 5-million tonne expansion that should be positive for medium-term growth. In addition, the company plans to raise $2 billion through equity and equity-linked instruments.

tata steel expansion plan, tata steel mid term growth plan, tata steel future plan News

Future Consumer stock rated Overweight by Morgan Stanley, says firm expected to be India’s 5th largest FMCG company

We expect FCL to be India’s fifth-largest FMCG company in revenue terms by FY21. Future Group’s retail ecosystem yields a unique competitive advantage that allows FCL (Future Consumer) to launch innovative products with a

FCL, FMCG company, Future Group, Morgan Stanley News

Bharti Airtel stock rating: ‘Overweight’ says Morgan Stanley

Warburg Pincus plans to acquire up to a 20% equity stake in Airtel’s DTH business for $350 mn (valuing it at $1.75 bn; 8x FY18e Ebitda), according to Airtel.

Markets News

Will interest rates rise or fall? Here is answer as to what RBI-MPC may well do

We pencil in a benign rate hike cycle, expecting the central bank to begin hiking rates by the second half of fiscal 2019, with a total of three rate hikes expected by the end of calendar 2019.

interest rates, interest rates rise, interest rates fall, Reserve Bank of India, RBI, RBI-MPC, MPC statement, Monetary Policy News

Probability-weighted average for TP of Rs 360 on Just Dial

Revenue growth didn’t show signs of pickup (muted volume growth, decline in sales headcount q-o-q for the second consecutive quarter), while margin beat was primarily cost-led.

Morgan Stanley, Revenue growth, Just dial News

AU Small Finance Bank gets big thumbs up on profitability from Morgan Stanley

AUSFB primary focus, the MSME loan segment, likely to emerge as one of India's fastest-growing financial segments over the next decade.

Banking & Finance News

HDFC Bank stock rated Overweight by Morgan Stanley, says momentum in core PPoP persists

HDFC Bank reported another quarter of 30% y-o-y growth in core PPoP. This was driven by continued strong loan growth of 22% y-o-y, strong fees (24% y-o-y)and good cost control (14% y-o-y).

HDFC Bank, HDFC Bank stock, Morgan stanley, PPoP persists News

Are better days ahead for Dr Reddy’s Laboratories? Check out what Morgan Stanley has to stay

Valuation has bottomed out; key products likely to drive earnings recovery; upgraded to ‘Overweight’

Dr Reddy's Laboratories, Morgan Stanley, DRL stock, US pipeline, US FDA News
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