Trading calls: What brokerages are placing their bets on

Here are what brokerages are recommending

Sesa Goa

Brokerage: CLSA

Rating: Sell

Target:  Rs 145

Rationale: They believe a recent 42% up-move in Sesa's price is unwarranted and far more than what is justified than increase in stock price of HCL and Cairn India. They recommend investors to sell any bounce in the stock to trimmer exit their positions.

Tata Power

Brokerage: JP Morgan

Rating: Neutral

Target: Rs 84

Rationale: Even in best case scenario for Mundra UMPP to be able to pass on entire costs that could still faces multiple hurdles, in terms of implementation and the project will not break even up until FY22. They expect under recoveries close to
Rs 480 crore at 80% PLF on this particular project.

Cummins India

Brokerage: Morgan Stanley

Rating: Underwieght

Target: Rs 358

Rationale: They expect revenue and earnings growth will remain momentum will be muted in near term because of weak local and export demands and margins gains too will be trimmed because of the rupee weakness, which will further limit the upside potential on the stock.

Jaiprakash Power

Brokerage: CLSA

Rating: Buy

Target: Rs 30

Rationale: They believe all the media reports indicating the sale Baspa and Karcham plants could remove a major overhang from the stock and could lead to a further increase in target price to further Rs 32-36 odd  

United Spirits

Brokerage: Deutsche Bank

Rating: Buy

Target: Rs 2700

Rationale: They have cut FY14-15 EPS estimates mainly to factor in delay that is happening in the deal consummation and for resultant delay in the overall debt repayment.