Jubilant Food Brokerage: JP Morgan Rating: Rs 1180 Target: underweight Rationale: Earnings growth was below expectations on account of a 100 bps margins decline year on year. Valuations look expensive, any minor lapse could strain the high multiples.
HCL Brokerage: Citi Rating: Rs 68 Target: buy Rationale: Strong growth at cognizant shows that growth opportunities exist for offshore companies even in the face of high competition. Improvement in deal flows is suggesting that fy14 could be better for the industry. HCL tech remains Citi's top pick in the sector
Tata Brokerage: Deutsche bank Rating: Rs 250 Target: holding Rationale: The continued weakness in the India business profitability was offset by better than expected margin performance at jaguar land rover. Margins will remain under pressure in the medium-term as demand outlook is weak and competition is intensifying
Reliance infra Brokerage: Morgan Stanley Rating: Rs 583 Target: equalweight Rationale: While EBITDA was 7% lower than estimates, bottomline was significantly ahead, due to higher other income of 350 crore. Execution of infrastructure projects will be critical for stock performance along with better visibility on cash and liquid assets.