Brokerages positive on CIL, M&M & Tata Motors, neutral on Bajaj

Brokerages positive on CIL, M&M & Tata Motors, neutral on Bajaj
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Brokerages positive on CIL, M&M & Tata Motors, neutral on Bajaj
  • 
	Coal India
	
	Brokerage: UBS
	
	Rating: Buy
	
	Target: Rs 450
	
	Rationale: Although the details of the new FSA's between Coal India and NTPC are not fully known, the resolution of the long-standing issue is a positive.

    Coal India Brokerage: UBS Rating: Buy Target: Rs 450 Rationale: Although the details of the new FSA's between Coal India and NTPC are not fully known, the resolution of the long-standing issue is a positive.

  • 
	M&M
	
	Brokerage: JPMorgan
	
	Rating: Overweight
	
	Target: Rs 985
	
	Rationale: The high margin tractor segment sales seem to have bottomed and M&M may continue to benefit from the preference for diesel vehicles.

    M&M Brokerage: JPMorgan Rating: Overweight Target: Rs 985 Rationale: The high margin tractor segment sales seem to have bottomed and M&M may continue to benefit from the preference for diesel vehicles.

  • 
	Tata Motors
	
	Brokerage: Morgan Stanley
	
	Rating: Overweight
	
	Target: Rs 334
	
	Rationale: JLR sales are likely to improve further as major shipments, mainly range rover, will start in December.

    Tata Motors Brokerage: Morgan Stanley Rating: Overweight Target: Rs 334 Rationale: JLR sales are likely to improve further as major shipments, mainly range rover, will start in December.

  • 
	Bajaj Auto
	
	Brokerage: Nomura
	
	Rating: Neutral
	
	Target: Rs 2,130
	
	Rationale: Bajaj has outperformed Hero MotoCorp by 42% over the past six months and with that, it has already priced in strong earnings growth in FY14.

    Bajaj Auto Brokerage: Nomura Rating: Neutral Target: Rs 2,130 Rationale: Bajaj has outperformed Hero MotoCorp by 42% over the past six months and with that, it has already priced in strong earnings growth in FY14.

  • 
	Coal India
	
	Brokerage: UBS
	
	Rating: Buy
	
	Target: Rs 450
	
	Rationale: Although the details of the new FSA's between Coal India and NTPC are not fully known, the resolution of the long-standing issue is a positive.
  • 
	M&M
	
	Brokerage: JPMorgan
	
	Rating: Overweight
	
	Target: Rs 985
	
	Rationale: The high margin tractor segment sales seem to have bottomed and M&M may continue to benefit from the preference for diesel vehicles.
  • 
	Tata Motors
	
	Brokerage: Morgan Stanley
	
	Rating: Overweight
	
	Target: Rs 334
	
	Rationale: JLR sales are likely to improve further as major shipments, mainly range rover, will start in December.
  • 
	Bajaj Auto
	
	Brokerage: Nomura
	
	Rating: Neutral
	
	Target: Rs 2,130
	
	Rationale: Bajaj has outperformed Hero MotoCorp by 42% over the past six months and with that, it has already priced in strong earnings growth in FY14.

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