Bank of America Merrill Lynch recommends buying Reliance with a target of Rs 1,071. They have cut their target and EPS estimate on petrochemical margin changes.
Citi recommends buying Indraprastha Gas with a target of Rs 425. The stock is Citi's top near-term pick in the gas sector, driven by a possible upside to consensus earnings on the back of a sharp reduction in its average cost of gas and greater comfort on its aggressive volume growth forecast.
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UBS maintains a buy on Carborundum Universal and has raised its target from Rs 296 to Ts 360. The management does not foresee any slowdown in India or global markets and remains confident of achieving growth of over 14%.
IIFL Institutional Equity reiterates a buy on Apollo Tyres with a target of Rs 109. They have we upgraded their FY12 and FY13 earnings estimates for Apollo Tyres by 30% each to factor in recent price increases by the industry for truck and bus tyres in the replacement segment.
READ MORE ON Reliance, Bank of America Merrill Lynch, Citi, Indraprastha Gas, UBS, Carborundum Universal, IIFL Institutional Equity, Apollo Tyres
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