Should you buy, sell or hold Tech Mahindra, Infosys, IndusInd Bank, ICICI Lombard and other stocks in focus today?

Stocks to buy, hold or sell today: Here's a look at what brokerages make of some of the key stocks in focus. Tech Mahindra, Infosys, IndusInd Bank, HDFC Bank, ICICI Bank, Axis Bank and ICICI Lombard are on their radar.

Stocks to buy, hold or sell today: Here is a list of brokerage calls on some of the stocks in focus today, including Tech Mahindra, Infosys, IndusInd Bank - Image Source: Pixabay

Stocks to buy, hold or sell today: From IT to banks, global brokerages were mostly upbeat on the stocks such as Tech Mahindra, Infosys, IndusInd Bank, ICICI Lombard along with other private lenders under their radar on Monday.

Most brokerages upbeat on Tech Mahindra and IndusInd Bank as the former appoints new MD & CEO, while the latter gets RBI approval for the extension of the current MD & CEO. Similarly, Macquarie was bullish on banking heavyweights mainly on the positive business outlook, going forward.

Check out the full list of brokerage calls on Tech Mahindra, Infosys, IndusInd Bank, HDFC Bank, ICICI Bank, Axis Bank, and ICICI Lombard:

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Tech Mahindra

Most global brokerages are upbeat on Tech Mahindra after the IT company announced former Infosys president Mohit Joshi as a successor of MD & CEO, CP Gurnani on Saturday.

CLSA has upgraded to ‘accumulate’ from a ‘reduce’ rating, while Nomura maintained a ‘buy’ target on the IT company shares. Whereas JP Morgan and CITI each have a ‘neutral’ rating on the counter.

Brokerages	Rating	Price Target
CLSA	Accumulate	Rs 1,200
Citi	Neutral	Rs 1,120
JP Morgan	Neutral	Rs 1,100
Nomura	Buy	Rs 1,260

With the appointment of Mohit, the real test of performance will start from the next calendar year once the new MD and CEO assumes office, CITI said in its note.

Infosys

Global brokerages are divided on Infosys after the company’s president Mohit Joshi resigns to join rival Tech Mahindra as MD & CEO. JP Morgan maintains a ‘neutral’ rating, while CLSA has a ‘buy’ stance on the large-cap IT stock.

Brokerages	Rating	Price Target
JP Morgan	Neutral	Rs 1,700
CLSA	Buy	Rs 1,800

According to CLSA, Infosys will need to find a quick replacement to ensure minimal business disruptions, especially in ongoing deal negotiations

IndusInd Bank

Most brokerages are bullish on IndusInd Bank as the Reserve Bank of India (RBI) approves the reappointment of Sumant Kathpalia as MD & CEO for the next two years. Macquarie maintains an ‘outperform’ rating, while Morgan Stanley retains an ‘overweight’ stance on the stock.

Brokerages	Rating	Price Target
Macquarie	Outperform	Rs 1,510
Morgan Stanley	Overweight	Rs 1,525
JP Morgan	Neutral	Rs 1,060
Jefferies	Buy	Rs 1,550
CITI	Buy	Rs 1,420

Similarly, Jefferies has a ‘buy’ rating on IndusInd Bank mainly due to attractive valuations and IndusInd Bank is among the top buy for the brokerage.

On the contrary, JP Morgan downgraded IndusInd Bank to ‘neutral’ from ‘overweight’ as RBI extended current CEO, Sumant Kathpalia's tenure for 2 years instead of 3 years as proposed.

Macquarie on private banks

According to the brokerage, low credit costs will continue to drive multiyear high return on assets (ROAs). The brokerage has an 'outperform' rating on HDFC Bank and ICICI Bank each, while it maintains a 'neutral' stance on Axis Bank.

Bank Stocks	Rating	Price Target
HDFC Bank	Outperform	Rs 2,110
ICICI Bank	Outperform	Rs 1,145
Axis Bank	Neutral	Rs 940

ICICI Lombard

Morgan Stanley maintains an ‘overweight’ stance on ICICI Lombard as the parent company ICICI Bank receives a 1-year extension to bring down the stake to 30 per cent from the current 48.02 per cent in the insurance arm.

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