Here's how brokerages are recommending trading JP Associates, Sun Pharma, Idea Cellular and Glenmark.
Here's how brokerages are recommending trading the following stocks:
Brokerage: Bank of America Merrill Lynch
Target: Rs 99
Rationale: The company turned free cash flow positive, in-line with expectations, but it was a positive surprise for markets.
Target: Rs 1250
Rationale: Hikma yesterday increased its 2013 sales forecast citing strong sales of Doxycycline as one of the key drivers. URL, which was acquired by Sun, also benefits as they market the generic version of Doxycyclene.
Brokerage: Credit Suisse
Target: Rs 680
Rationale: The brokerage is positive on the company’s improved balance sheets and quality of filings and have raised FY14 earnings estimates by 15%.
Target: Rs 120
Rationale: Idea has had a strong run given good execution in the wireless business and a lack of credible alternatives as Bharti continues to face challenges, especially in Africa.