Jain Irrigation Brokerage: CLSA Rating: Buy Target: Rs 150 Rationale: CLSA has a buy on Jain Irrigation with a target of Rs 150. They are encouraged by the Rs 220 crore sequential fall in debt. They like the management's strategy of prioritizing collections over growth and have upgraded earnings by 6-8% on lower tax rates.
Sintex Brokerage: RBS Target: Rs 85 Rating: Buy Rationale: RBS has cut its price target on Sintex to Rs 85. It has reduced its FY13 EPS estimates by 18% after the poor fourth quarter performance. However, RBS believes lower valuations may support the stock.
Dr Reddy’s Brokerage: JPMorgan Rating: Overweight Target: Rs 1980 Rationale: JPMorgan has upgraded Dr Reddy’s to overweight with a target of Rs 1980. The upgrade is predicated on a recovery in domestic market share and a strong outlook for the PSAI portfolio.
NTPC Brokerage: Bank of America Merrill Lynch Rating: Underperform Target: Rs 143 Rationale: The negative catalysts include a delay in capex, fuel shortages & rich valuations.