Brokerage stock recommendations: As Dalal Street enters the March 18 session, brokerages have a bunch of stocks on their watchlists. Here's what Morgan Stanley, UBS, Nomura, Jefferies, and Morgan Stanley make of stocks such as Page Industries, United Breweries, Bajaj Finance, ICICI Bank, Zomato, Bharti Airtel, Macrotech, and Max Healthcare: 

Bajaj Finance target price

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Morgan Stanley has kept its 'overweight' rating on Bajaj Finance but reduced its target for the stock to Rs 9,250 from Rs 9,600.

ICICI Bank target price

Nomura has maintained a 'buy' rating on ICICI Bank with a target of Rs 1,225 per share. 

Zomato target price

UBS has retained a 'buy' call on Zomato with a target of Rs 195 per share. 

SBI target price

Morgan Stanley has continued with its 'equal-weight' rating on SBI and raised its target price for the PSU bank stock to Rs 750 from Rs 670. 

Page Industries target price

UBS has initiated coverage on Page Industries with a 'buy' rating and a target price of Rs 44,000. The brokerage expects improving demand to aid the company's volumes on the back of its strong distribution and brand recall. 

UBS sees limited downside risks for Page Industries and expects a treating for the stock relative to its historical average multiples over the medium term. 

United Breweries target price

UBS has initiated coverage on United Breweries with a 'buy' rating and a target of Rs 2,000 per share. 

Varun Beverages target price

UBS has initiated coverage on Varun Beverages with a 'neutral' rating and a target of Rs 1,550 per share. 

Bharti Airtel target price

Jefferies has shared its 11 picks for the next five years: Amber, Ambuja Cement, Axis Bank, Bharti Airtel, JSW Energy, L&T, Macrotech, Max Healthcare, SBI, TVS Motor Company, and Zomato. 

The companies are likely to deliver CARG returns to the tune of 15-25 per cent during the five years, according to the brokerage.

Here's what Jefferies says about the 11 companies:  

  • Amber: Key beneficiary of India's manufacturing growth story
  • Ambuja Cement: Strong cement demand from capex upcycle expected to drive 19 per cent EBITDA CAGR 
  • Axis Bank: Loan, EPS CAGR estimated at 17 per cent, 18 per cent over over FY24-29, respectively 
  • Bharti Airtel: Strong EBITDA growth along with moderating capex
  • JSW Energy: Three-fold jump in power capacity to 20GW by FY30, with the renewables share rising to 80 per cent 
  • L&T: Infra major to achieve revenue CAGR to the north of 15 per cent over FY23-30
  • Macrotech: Strong housing cycle to drive 17.5 per cent CAGR pre-sales growth
  • Max Healthcare: Underpentration in quality healthcare; doubling of bed capacity
  • SBl: 13 per cent loan growth driven by retail, SME, corporate segments
  • TVS Motor: Key beneficiary of revival in domestic two-wheeler demand, transition to e-two-wheelers
  • Zomato: Low penetration levels in core segments offer a long runway to growth

HDFC Bank target price

Morgan Stanley has maintained an 'overweight' rating on HDFC Bank but brought down its target price for the stock to Rs 1,900 from Rs 2,110.

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