June 22, 2011 / 13:30 IST
JPMorgan maintains an underweight call on Coal India with a target of Rs 340. JPMorgan sees increasing risk of policy uncertainty for Coal India as the coal deficit widens.
JPMorgan maintains an overweight stance on
Oberoi Realty with a target of Rs 292. The company has ample cash on books of over Rs 1400 crore and that should provide some leverage to make accretive land acquisitions. Valuations, while at a premium to the sector, will likely remain given superior return on equity and a city centric prime portfolio
Macquarie has initiated coverage on
Hexaware with an outperform rating and target of Rs 85. They expect strong top-line growth and increased utilization levels to drive margins higher in 2011 and 2012 for the IT company.
Deutsche Bank maintains a "buy" on
Axis Bank with a target of Rs 1,355. Loan growth in FY12 is likely to moderate but headwinds will not be severe and deutsche bank feels current valuations make the stock look attractive.
Lastly, UBS maintains a "buy" on
Manappuram General Finance with a target of Rs 77. UBS believes the company should benefit with lower wholesale rates, since it is funded primarily at the short end of the yield curve.
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