Adani Power Brokerage: Citi Rating: Sell Target: Rs 36 Rationale: Consistent losses indicate that the business model is unsustainable without a mix of tariff hikes and higher coal supply.
JSW Steel Brokerage: UBS Rating: Buy Target: RS 1000 Rationale: While operating profits disappointed, pricing may improve on higher import-parity prices and better demand.
ING Vysya Bank Brokerage: Barclays Rating: overweight Target: Rs 615 Rationale: Net interest income was driven by faster advances growth and improved margins. The strong performance and improved outlook justify a re-rating.
Amara Raja Batteries Brokerage: Nomura Rating: Buy Target: Rs 299 Rationale: Profits were 16 per cent ahead of estimates on the back of better than expected operating margins. Increase in capex plans also highlights strong conviction in volume growth.