Tata Motors Brokerage: CLSA Rating: Buy Target: Rs 370 Rationale: JLR has seen an average drop of 30% in volumes from March to April in the last 10 years, and the recent drop is due to seasonal factors. They feel the company is not seeing any signs of demand weakness in any geography and continues to maintain its guidance for Evoque.
HDFC Brokerage: Deutsche Bank Rating: Buy Target: Rs 760 Rationale: Their discussion with the management indicates that the FII limit at 74% is likely to be raised to 100% in which case at the next MSCI rebalancing, its weightage could go up sharply.
Lupin Brokerage: Morgan Stanley Rating: Overweight Target: Rs 594 Rationale: The company has received approvals for the HIV drug Combivir. This could be a longer duration opportunity for the company, as there are no further approvals for this drug in the near-term.
Ashok Leyland Brokerage: Nomura Rating: Neutral Target: Rs 26 Rationale: They believe competition from Mahindra’s Navistar and other new launches in FY13 could weigh on its volume growth. A sharper than expected downturn in commercial vehicles is a key risk.