GLENMARK Brokerage: Morgan Stanley Rating: OVERWEIGHT Target: Rs 534 Rationale: Srong earnings driven by growth in attractive markets like Bazil and Russia, lucrative therapies and focus on niche opportunities in the US. They have a target of 534 on the stock.
NMDC Brokerage: I-SEC Rating: ADD Target: But cut target to Rs 176 Rationale: Over 2 million tonnes of iron ore lumps that were to be dispatched to sponge iron players has not happened due to subdued demand. NMDC has not yet managed to place the volumes elsewhere.
CAIRN INDIA Brokerage: Religare Rating: BUY Target: Rs 400 Rationale: Reports indicate the government has agreed in-principle to allow exploration in some fields beyond the stipulated date. While a formal announcement is awaited, such a development would be a significant positive for all upstream companies
Titan Brokerage: Daiwa Rating: BUY Target: Rs 340 Rationale: The worst should be over for jewellery sales. Volumes and margins should improve on the back of increased share of studded jewellery and direct imports of gold.