Buy, Sell or Hold: Morgan Stanley maintains overweight on Varun Beverages; Nuvama retains hold on Cyient

Morgan Stanley retained its Overweight rating on Varun Beverages with a Rs 557 target, while Nuvama maintained a Hold on Cyient and raised its target to Rs 1,050. Elara Securities retained its Buy rating on Nykaa and increased its target to Rs 475, citing premiumisation, stronger customer quality and growth in online beauty and personal care.