Buy Tata Motors, RIL, Tata Steel: Credit Suisse

Here are experts equity calls for the day on how the markets are expected to trade:

Sakthi Siva, Credit Suisse: The reason for the big pushback to our call to switch out of expensive defensives like ITC, TCS, Lupin and Sun Pharma into cheap cyclicals like Tata Motors, Reliance and Tata Steel, is the superior EPS growth and EPS revision trend among the expensive defensives. Other factors include global growth bottoming, domestic policy reforms and a potential RBI rate cut on October 30.

Edward Pulling, JPMorgan AMC: The Indian market could be higher in the next 12 months if the current re-rating continues and will be largely driven by expected EPS progression from Rs 1347 to Rs 1490. We prefer quality financial intermediaries, cement and consumption stocks.