GVK Power & Infrastructure Brokerage: JP Morgan Rating: Overweight Target: Rs 19 Rationale: GVK has informed NAHI of its intention to exit Shivpuri Dewas road project, if the project is excluded, the medium-term equity funding gap for GVK eases to Rs 400 crore, which is a positive.
Havells India Brokerage: Citi bank Rating: Buy Target: Rs 734 Rationale: The promoters have decided to forego paying 1 % of sales after the brand licensing agreement for Havells expires. The company is thus, likely to pay out the entire saving of Rs 40 crore as dividend given healthy cash flows
Tata Motors Brokerage: CLSA Rating: Buy Target: Rs 385 Rationale: Fears of a sharp drop in china demand and margins have receded. Chinese luxury outlook has started improving again.
BHEL Brokerage: JP Morgan Rating: Underweight Target: Rs 195 Rationale: Order inflows in the December quarter have been tepid. The decline in fresh orders is likely to result in weak top line growth and a 12% decline in profits in the third quarter.