Houseviews: Three stocks that brokerages are bearish on!

Houseviews: Three stocks that brokerages are bearish on!
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Houseviews: Three stocks that brokerages are bearish on!
  • 
	JSW Steel

	Brokerage: CLSA

	Rating: Underperform

	Target: Rs 750

	Rationale: While uncertainty continues on JSW’s iron ore supply situation, CLSA believes the most likely outcome is the opening up of all mines with no or minor violations in FY13.

    JSW Steel Brokerage: CLSA Rating: Underperform Target: Rs 750 Rationale: While uncertainty continues on JSW’s iron ore supply situation, CLSA believes the most likely outcome is the opening up of all mines with no or minor violations in FY13.

  • 
	Titan

	Brokerage: Morgan Stanley

	Rating: Underweight

	Target: Rs 198

	Rationale: Policy changes in the recent union budget may have a structural negative impact on the organized jewellery industry in India. 

	 

    Titan Brokerage: Morgan Stanley Rating: Underweight Target: Rs 198 Rationale: Policy changes in the recent union budget may have a structural negative impact on the organized jewellery industry in India.   

  • 
	Oil India

	Brokerage: UBS

	Rating: Sell

	Target: Rs 1215

	Rationale: High under recoveries, tight fiscal situation and losses of OMCs point to the upstream companies bearing the brunt of the subsidy burden.

    Oil India Brokerage: UBS Rating: Sell Target: Rs 1215 Rationale: High under recoveries, tight fiscal situation and losses of OMCs point to the upstream companies bearing the brunt of the subsidy burden.

  • 
	JSPL

	Brokerage: HSBC

	Rating: Overweight

	Target: Rs 630

	Rationale: The fourth quarter is likely to be a strong quarter as domestic long prices are up 6% sequentially, JSPL also had large inventory at the end of the third quarter. Raw material costs are likely to be lower due to 20% lower coking coal prices.

    JSPL Brokerage: HSBC Rating: Overweight Target: Rs 630 Rationale: The fourth quarter is likely to be a strong quarter as domestic long prices are up 6% sequentially, JSPL also had large inventory at the end of the third quarter. Raw material costs are likely to be lower due to 20% lower coking coal prices.

  • 
	JSW Steel

	Brokerage: CLSA

	Rating: Underperform

	Target: Rs 750

	Rationale: While uncertainty continues on JSW’s iron ore supply situation, CLSA believes the most likely outcome is the opening up of all mines with no or minor violations in FY13.
  • 
	Titan

	Brokerage: Morgan Stanley

	Rating: Underweight

	Target: Rs 198

	Rationale: Policy changes in the recent union budget may have a structural negative impact on the organized jewellery industry in India. 

	 
  • 
	Oil India

	Brokerage: UBS

	Rating: Sell

	Target: Rs 1215

	Rationale: High under recoveries, tight fiscal situation and losses of OMCs point to the upstream companies bearing the brunt of the subsidy burden.
  • 
	JSPL

	Brokerage: HSBC

	Rating: Overweight

	Target: Rs 630

	Rationale: The fourth quarter is likely to be a strong quarter as domestic long prices are up 6% sequentially, JSPL also had large inventory at the end of the third quarter. Raw material costs are likely to be lower due to 20% lower coking coal prices.

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