CAIRN INDIA Brokerage: CITI Rating: BUY Target: Rs 412 Rationale: base case for Brent crude by the end of this year has now been upgraded to USD 125. Based on the renewed assumptions, their FY13 earnings estimates have risen by 14%.
COAL INDIA Brokerage: JP Morgan Rating: UNDERWEIGHT Target: Rs 295 Rationale: Investors need to wait for an articulated strategy on the dividend policy going forward, given that historically dividend payout has been less than 25%. Reports also suggest that CCI has decided to probe Coal India for alleged misuse of market position; this could weigh on the stock.
TATA MOTORS Brokerage: Nomura Rating: BUY Target: Rs 326 Rationale: recent prices increases and a decline in losses in the passenger vehicles segment should help standalone margins in the fourth quarter. JLR's margins are likely to surprise positively against street expectations of around 16-17%.
DLF Brokerage: RBS Rating: BUY Target: Rs 260 Rationale: Cashflows from launches in the fourth quarter plus proceeds from asset sales will help in reducing debt further in this quarter. In fy13, DLF also expects to sell it's wind power assets, Mumbai NTC mill land and Aman resorts