L&T Brokerage: CITI Rating: Buy Target: Rs 1642 Rationale: FY13 onwards the execution cycle could actually accelerate. They believe L&T guiding 20% sales growth in fy13 would not be a surprise.
Zee Entertainment Brokerage: Goldman Sachs Rating: Buy Target: Rs 155 Rationale: Zee TV is improving its rankings driven by new program launches. This, coupled with a cyclical recovery in ad spend in FY13, should help overall revenues.
ONGC Brokerage: CLSA Rating: Outperform Target: Rs 310 Rationale: The recent 80% hike in CESS on crude production has led to a sharp 15% cut in ONGC’s FY13 EPS. ONGC also suffers as subsidies rise faster than revenues at 45% upstream share assumptions.
Maruti Brokerage: Deutsche Bank Rating: Sell Target: Rs 1200 Rationale: The current price implies a reversion to peak profitability levels of the past which is an optimistic expectation.