Reliance Brokerage: Goldman Sachs Rating: Buy Target: Rs 945 Rationale: The market is already assigning zero value to the domestic E&P business. They forecast the refining cycle to be robust over the second half of calendar year 2012 and 2013 driven by significant closures in us and Europe, delays in new projects and recovery in oil demand.
DLF Brokerage: Merrill Lynch Rating: Buy Target: Rs 245 Rationale: They expect a strong rebound in sales booking for DLF in the fourth quarter led by a pick up in new launches especially in it’s core market of Gurgaon.
Axis Bank Brokerage: Credit Suisse Rating: Outperform Target: Rs 1421 Rationale: The management has reiterated comfort on asset quality. They also expect NIMs to stay stable across the rate cycle.
Tata Steel Brokerage: Merrill Lynch Rating: Underperform Target: Rs 380 Rationale: Margins for Tata Steel Europe and India are likely to remain under pressure in FY13 due to lower steel prices. Volumes from the proposed Orissa expansion could disappoint and may not lead to meaningful earnings accretion.