Morgan Stanley has maintained an overweight rating on JSW Steel, SBI, Sun Pharma, and Nykaa, while initiating an equal-weight rating on Eicher Motors. The brokerage expects JSW Steel to reach a target price of Rs 580, with a reaffirmed volume guidance of 24.2mt, and sees a steady loan growth of 12-14% for SBI in FY24. Morgan Stanley also expects Sun Pharma to record a high single-digit growth for FY24, with a target price of Rs 1170, and sees Nykaa adding 50 new stores in FY24, with higher gross margins in the fashion segment.
