Buy, Sell or Hold: Morgan Stanley maintains Equal-Weight on Pine Labs; retains buy on ONGC

Morgan Stanley maintains a constructive outlook on select Indian largecap stocks in defence, energy, and fintech, citing strong growth prospects. The brokerage reiterates bullish stances on Bharat Electronics, ONGC, and Pine Labs, highlighting robust execution, energy security tailwinds, and rising digital transaction volumes as key drivers for future performance.