Brokerage calls: How to play HDFC, Tata Motors, Maruti

Here is how brokerages are trading HDFC, Havells India, Tata Motors and Maruti Suzuki:

HDFC
Brokerage: Citi
Rating: NEUTRAL
Target: Rs 940
Rationale: The NBFC’s asset business is in a good shape and needs easing in monetary policy to sustain growth.

Tata Motors
Brokerage: CLSA
Rating: BUY
Target: Rs 380
Rationale: The company is more attractive on weak outlook for peers and remains a top pick in auto sector. Maruti Suzuki
Brokerage: Morgan Stanley
Rating: OVERWEIGHT
Target: Rs 1,428
Rationale: The brokerage has cut the company’s FY14 EPS estimates by 17%. Havells India
Brokerage: JPMorgan
Rating: UNDERWEIGHT
Target: Rs 520
Rationale: The brokerage expects slower earnings growth over next 2 years. Its key concerns are the moderation in consumer segment and the weak capex in industrials. Also European construction is expected to remain weak in CY13.