ITC Brokerage name: Deutsche Bank Rating: BUY Target: Rs 365 Rationale: According to media reports, Uttar Pradesh has reduced the VAT on cigarettes to 25% from 50%. The current cut in tax is a strong rational move by the up government
Sintex Industries Brokerage name: Nomura Rating: BUY Target: Rs 100 Rationale: On the back of management's positive outlook for FY14, Nomura expects consensus FY14 sales estimates to potentially move up by 11%.
Glenmark Pharma Brokerage name: Nomura Rating: BUY Target: Rs 578 Rationale: US sales disappointed, but that was more than compensated with continued strong growth in India business, which is a key positive
Shriram Transport Brokerage name: Goldman Sachs Rating: SELL Target: Rs 660 Rationale: They have fine-tuned their FY14 EPS estimate by 0.7% to incorporate the trends seen in this quarter as well as a higher tax rate.