Buy, Sell or Hold: Morgan Stanley maintains underweight on Dixon; Citi cuts target price on IndiGo

Brokerage houses remain selective on Indian equities, with Morgan Stanley maintaining an underweight call on Dixon Technologies due to PLI uncertainties. Citi retained a Buy on IndiGo but cut its target price amid cost pressures and geopolitical disruptions, while Motilal Oswal sees strong upside in Maruti Suzuki supported by product launches and exports.