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Brokerages bullish on SpiceJet, BoI; Punj Lloyd to underperform
  • 
	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.

    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.

    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

    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.

    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.

    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.

  • 
	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.

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