IDFC Brokerage: Morgan Stanley Rating: Equalweight Target: Rs 150 Rationale: RBI’s regulations on new bank licenses are unclear for NBFCs, which do not have a promoter group. Since, IDFC has no promoter, it is not clear who can form the required financial holding company, and whether it is eligible.
Britannia Brokerage: Standard Chartered Rating: Outperform Target: Rs 590 Rationale: Visibility on margin expansion has improved due to recent price hikes and an improving mix.
Ranbaxy Brokerage: HSBC Rating: Overweight Target: Rs 482 Rationale: Ranbaxy's re-entry in the generic lipitor market and the approval to resume manufacturing at Ohm's labs in the US are key positive catalysts.
L&T Finance Brokerage: JP Morgan Rating: Neutral Target: Rs 80 Rationale: While the stock is fully valued at the current share price, near term catalysts like a new banking license and possible rate cuts provide strong support.