Petronet Brokerage: Citi Rating: Buy Target: Rs 179 Rationale: They believe the stock now adequately prices in most concerns after the recent underperformance driven by a disappointing Q4 on lower-than-expected volumes, margins and regulatory concerns in the sector.
Asian Paints Brokerage: UBS Rating: Buy Target: Rs 4,150 Rationale: Despite raw material pressures they managed to post EBITDA growth of over 30% and profit growth of nearly 40% in Q4. they believe being a dominant player with strong pricing power, Asian Paints will be continue to pass on further raw material cost increases.
ITC Brokerage: Macquarie Rating: Outperform Target: Rs 257 Rationale: Based on our channel checks, they estimate ITC has taken a 16% blended price increase in the last two months which is in-line with the price hike needed to offset the duty burden. In recent news though, the effective excise increase for FY13 has been hiked to 23% against 15% earlier, in the revised finance bill.
Hindalco Brokerage: Bank of America Merrill Lynch Rating: Neutral Target: Rs 143 Rationale: The adjusted profit was 17% ahead of estimates. Valuations appear reasonable but they believe upside catalysts are absent.