ONGC Brokerage: Bank of America Merrill Lynch Rating: Buy Target: Rs 426 Rationale: They expect a favorable change in the subsidy formula later in FY14. The main earnings and share price driver for ONGC is the gas price increase in FY15.
Aban Offshore Brokerage: Credit Suisse Rating: Outperform Target: Rs 604 Rationale: Aban's deep driller 7 and Aban ice should be operational in the second half of the fiscal, adding materially to earnings.
Tata Motors Brokerage: CLSA Rating: Buy Target: Rs 380 Rationale: Total revenues and EBITDA was 8 percent higher than estimates. Strong revenue growth across all geographies was the key positive.
Ranbaxy Brokerage: Citi Rating: Buy Target: Rs 650 Rationale: They believe there are enough signs to show that a turnaround is underway, although at a slower pace than expected earlier.
Gujarat Gas Company Brokerage: Dolat Capital Market Rating: Positive Rationale: We expect volume growth to improve in second half of CY13 due to infrastructure expansion as well as increased industrial activity before Diwali season. We will revisit our numbers post interaction with the management ./.