Credit Suisse said it was concerned about LIC Finance’s high leverage and low provisions, but Jefferies expected cement demand to improve this month.
Scient | Morgan Stanley has made an ‘overweight’ call with a price target of 700 rupees on Scient shares. The brokerage sees reducing the company’s investment in his DLM business as a positive move.
Oil & Gas | The CLSA said the sudden increase in tax revenues could cut Brent oil prices by $5 a barrel to $4 a barrel. Brokers also see Indian oil giant ONGC as a top buy.
Financial companies other than banks | Credit Suisse says it is concerned about LIC Finance’s high leverage and low reserves. We also believe LIC housing finance and AB finance will be adversely affected by size-based regulation.
Cement | According to Jefferies, September 2022 exit prices are 1% above the quarterly average. He added that he expected an improvement in cement demand this month.