Morgan Stanley bullish on NTPC, Adani Ports and L&T Infotech

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26 Aug, 2025 12:21

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Global brokerage house Morgan Stanley has an overweight call on the country's largest power producer NTPC with a target price of Rs 152 per share, implying a 34.5 percent potential upside from current levels.

The stock rallied 1.6 percent intraday on December 12.

The research firm believes the share price will rise in thenext 15 days. "Five out of six plants contributed to under-recoveries in FY19/H1FY20 have improved," it said.

Shares of Adani Ports and Special Economic Zone also gained 1.7 percent intraday on December 12 after the brokerage remained bullish on the stock.

While having an overweight call on the stock with a target price of Rs 433 (potential upside of 17 percent), Morgan Stanley feels Mundra volumes, which were down 5 percent in September ended quarter are likely to rebound.

The rebound may be driven by restocking of coal by IPPs and ramp-up at refineries, the brokerage said, adding the growth in November was 6 percent against -5 percent in October ands -7 percent in November 2018.

While the growth for quarter-to-date (October-December) is flat, Mundra has started growing faster than JNPT, it said.

Larsen and Toubro Infotech share price, too, gained nearly 2 percent intraday after Morgan Stanley rated with overweight call and target at Rs 1,860 (potential upside of 14 percent) as it feels management sounded confident regarding second half of FY20 growth.

"The company remains a preferred midcap pick in our coverage. Analysis indicates significant synergies if Mindtree and L&T Infotech work together," it said.

NTPC was trading 1.46 percent higher at Rs 114.65, Adani Ports up 0.81 percent at Rs 373.05 and Larsen & Toubro Infotech up 0.98 percent at Rs 1,650 at the time of publishing this copy.

Among others, the global research firm has an equal-weight call on HDFC Life with a target at Rs 580 and same call on Container Corporation of India with a target of Rs 572.

HDFC Life Insurance Company was up 0.53 percent at Rs 575.65 and Container Corporation of India up 0.47 percent at Rs 560.60 at the time of publishing this copy.

Morgan Stanley expects strong/consistent value of new business growth for HDFC Life over the medium term and said it was one of the best plays on India's insurance story.

In case of CONCOR, the brokerage said EXIM container movement in rail rebounded to 9 percent in October-November against flat in Q2 and company has lost market share for past nine quarters as it focuses on profitable growth.