Brokerage Calls Predict Cautious Optimism in Indian Equities

Indian equities are expected to begin cautiously on Monday, according to various brokerage calls that highlight several stocks of interest. Hindustan Unilever is one such stock with multiple brokerages retaining their 'BUY' ratings. Nuvama has a target price of Rs 2,820 for HUL, while Jefferies and Motilal Oswal Financial Services (MOFSL) have target prices of Rs 2,450 and Rs 2,400 respectively.

Goldman Sachs also maintains its 'BUY' rating on HUL with a target price of Rs 2,450. HDFC Securities takes a contrarian view, however, maintaining a 'REDUCE' rating for the stock at Rs 2,100. Elara Capital has reasserted its 'ACCUMULATE' rating but decreased its target price to Rs 2,230 from Rs 2,390.

Fortis Healthcare and LG Electronics also received positive calls, with Jefferies maintaining a 'BUY' rating on Fortis at Rs 1,125. Nuvama has kept its 'BUY' rating for LG Electronics but raised the target price to Rs 1,990 from Rs 1,910.