ICICI Bank Brokerage: CLSA Rating: Buy Target: Rs 1090 Rationale: While asset quality was stable, slower casa growth and fee were a tad disappointing. They have raised their profit estimates by 4-5%.
Axis Bank Brokerage: Morgan Stanley Rating: Equalweight Target: Rs 765 Rationale: The key driver to stock performance in the next year is going to be asset quality and revenue trends. Concerns regarding asset quality, particularly with respect to SME and infrastructure are going to stay elevated through FY13 and FY14.
Maruti Brokerage: CLSA Rating: Sell Target: Rs 1300 Rationale: They see limited levers for margins to expand from fourth quarter levels and believe that FY13 EBITDA margins will be 8-8.5% at best. While car industry growth has improved, it could slip if discounts on petrol cars drop.
Siemens Brokerage: Daiwa Rating: Underperform Target: Rs 650 Rationale: The company recorded an order inflow of 1800 crore in the last quarter, which was 43% below forecast. Daiwa feels there is limited growth in total order inflow from the current high base of last year.