Brokerage calls: Expert views on HCL Tech, MCX, Crompton and M&M

Brokerage calls: Expert views on HCL Tech, MCX, Crompton and M&M
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Brokerage calls: Expert views on HCL Tech, MCX, Crompton and M&M
  • 
	HCL Tech

	Brokerage: Credit Suisse

	Rating: Outperform

	Target: Rs 580

	Rationale: They expect the company to report 3% sequential revenue growth in constant currency and EBIT margins to improve slightly.

    HCL Tech Brokerage: Credit Suisse Rating: Outperform Target: Rs 580 Rationale: They expect the company to report 3% sequential revenue growth in constant currency and EBIT margins to improve slightly.

  • 
	MCX

	Brokerage: Morgan Stanley

	Rating: Equalweight

	Target: Rs 1,300

	Rationale: While volume growth at exchanges tends to be lumpy and can come back with a rise in commodity prices and volatility, there are downside risks to forecasts if current volume trends persist.

    MCX Brokerage: Morgan Stanley Rating: Equalweight Target: Rs 1,300 Rationale: While volume growth at exchanges tends to be lumpy and can come back with a rise in commodity prices and volatility, there are downside risks to forecasts if current volume trends persist.

  • 
	Crompton Greaves

	Brokerage: RBS

	Rating: Hold

	Target: Rs 115

	Rationale: Restructuring of its Belgium operations could entail an estimated cost of 25-35 million euro. Power T&D has become a difficult business; more issues could emerge before things get better.

    Crompton Greaves Brokerage: RBS Rating: Hold Target: Rs 115 Rationale: Restructuring of its Belgium operations could entail an estimated cost of 25-35 million euro. Power T&D has become a difficult business; more issues could emerge before things get better.

  • 
	M&M

	Brokerage: UBS

	Rating: Neutral

	Target: Rs 770

	Rationale: Recent checks with dealers support UBS' negative outlook. The slowdown in government spending, likelihood of weak monsoon and a high base are likely to result in tractor industry de-growth in FY13.

    M&M Brokerage: UBS Rating: Neutral Target: Rs 770 Rationale: Recent checks with dealers support UBS' negative outlook. The slowdown in government spending, likelihood of weak monsoon and a high base are likely to result in tractor industry de-growth in FY13.

  • 
	HCL Tech

	Brokerage: Credit Suisse

	Rating: Outperform

	Target: Rs 580

	Rationale: They expect the company to report 3% sequential revenue growth in constant currency and EBIT margins to improve slightly.
  • 
	MCX

	Brokerage: Morgan Stanley

	Rating: Equalweight

	Target: Rs 1,300

	Rationale: While volume growth at exchanges tends to be lumpy and can come back with a rise in commodity prices and volatility, there are downside risks to forecasts if current volume trends persist.
  • 
	Crompton Greaves

	Brokerage: RBS

	Rating: Hold

	Target: Rs 115

	Rationale: Restructuring of its Belgium operations could entail an estimated cost of 25-35 million euro. Power T&D has become a difficult business; more issues could emerge before things get better.
  • 
	M&M

	Brokerage: UBS

	Rating: Neutral

	Target: Rs 770

	Rationale: Recent checks with dealers support UBS' negative outlook. The slowdown in government spending, likelihood of weak monsoon and a high base are likely to result in tractor industry de-growth in FY13.

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