SpiceJet Brokerage: Bank of America Merrill Lynch Rating: Buy Target: Rs 34 Rationale: The recent sharp depreciation in the rupee will likely keep SpiceJet in the red for FY14, with full year profits visible in FY15.
HCC Brokerage: CIMB Rating: Neutral Target: Rs 12.30 Rationale: HCC returned to profit after eight straight quarters of losses. But the rise in interest expense to a new peak and lack of debt burden relief in the near-term are concerns.
Punj Lloyd Brokerage: Macquarie Rating: Underperform Target: Rs 17 Rationale: A declining order book, stretched balance sheet and continuing losses in international projects remain key overhangs. Also read: 6 trading stocks for short term gains
Tata Chemicals Brokerage: Deutsche Bank Rating: Holding Target: Rs 290 Rationale: They have cut their target to Rs 290 on expectation of lower margins as energy costs are expected to remain high.
Bank of India Brokerage: Karvy Rating: Buy Target: Rs 285 Rationale: They have cut the ABV by 8 percent for FY14 and FY15 factoring in higher slippages, higher tax rate and lower treasury income in next quarter.