BHEL Brokerage: Deutsche Bank Rating: HOLD Target: Rs 169 Rationale: After what L&T had to say, Deutsche Bank has cut order inflow estimate for BHEL by 28%.
ING Vyasa Bank Brokerage: JP Morgan Rating: OVERWEIGHT Rationale: The company’s revenue was strong, led by higher fee and treasury income and lower operating expenditure growth.
L&T Brokerage: Morgan Stanley Rating: EQUALWEIGHT Rationale: L&T continues to surprise on order inflows, but with negative surprises on the topline and on margins continuing, the stock seems fully valued.
Asian Paints Brokerage: Citi Rating: SELL Target: Rs 4050 Rationale: While some cost pressures were known, the revenues miss and certain negative surprises led to the sharp profit miss.
Bajaj Auto Brokerage: ICICI Direct Rating: BUY Target: Rs 2217 Rationale: The brokerage expects hike in rural demand and believes the strong export benefit makes BAL an attractive play. It doesn’t see any reason to be overtly pessimistic on the same and feel it could enjoy richer valuations than pure play domestic peers. It has upgraded the PE multiple to 15x.