Here's how to trade M&M, Bajaj Auto, Ranbaxy today

Here is what brokerages are suggesting for various stocks:

JPMorgan is overweight on Mahindra and Mahindra (M&M) with a target price of Rs 1,000. The brokerage sees healthy growth in higher-margin tractor segment.

Also Read: Super Six: Top chart picks for September 23

CS expects Bajaj Auto to outperform with a target of Rs 2,210. New launches and festive season has made it positive in the near-term. The FY14 two-wheeler volume growth of the company has cut down to 5 percent and the margin estimate for FY15-16 increased to 21 percent.

DB recommends buying Bharat Forge with a target price increased by 14 percent to Rs 320. The brokerage sees a recovery in EU, US truck volumes in second half of 2013. The also hope that recovery in EU, US markets will boost EBITDA, EPS CAGR of the company.

JPMorgan is overweight on Hindalco with an increased target price to Rs 155 from earlier Rs 140. The brokerage expect sharp pick up in free cash flow of the company.

BofA ML believes Ranbaxy will underperform with a target price of Rs 320. According to them, the resolution of USFDA will take longer than expected which will lead to delay in new product approvals and that is likely to impact growth. The brokerage sees limited visibility on its US product pipeline.