Jefferies has upgraded Indian Hotels with a buy call and raised the target price to ₹900 per share, citing strong growth goals and consistent past performance. Meanwhile, Morgan Stanley maintains an overweight rating on TCS, setting a target of ₹4,660 per share, while highlighting cautious optimism in the demand environment. HSBC has also issued a buy call on UPL, targeting ₹680 per share, as the company approaches a rights issue aimed at debt reduction.