Credit Suisse is neutral on Bharti with a target of Rs 330. The 17% fall in Lankan rupee versus the Indian rupee could lead to a Rs 210 crore pre-tax loss booked in consolidated earnings.
Standard Chartered has a target of Rs 465 for Ranbaxy. The higher growth trajectory in the core business is likely to help core margins expand by 400 bps. Consent decree with the US FDA adds medium-term value, with the potential to normalise US sales.
Citi recommends selling HUL with a target of Rs 345. Management indicates there is some moderation in the packaged food segment. Also, sustained pressures due to higher crude prices have driven up costs of packaging materials.
JP Morgan has downgraded Jet Airways to underweight and cut its target to Rs 245. Airlines have raised fares by 10%-12% in March. However, high oil prices and slowing passenger traffic are likely to keep margins under check and further fare increases seem difficult.