Check out: Which stocks is Sharekhan betting on

Sharekhan has come with its report on various stocks.

ITC: We will review our estimates for FY2012 and FY2013 after our interaction with the management of the company and shall come out with a detailed note on the results. We maintain our Buy recommendation on the stock with a price target of Rs 223. At the current market price the stock trades at 26.2x and 22.2x its FY2012E and FY2013E earnings respectively.

Sun Pharma: We expect Sun's strong domestic business, its niche US market (controlled release substances, hormones etc) and the improving visibility of its patent pipeline to drive a steady growth in the long term. With a strong cash balance, Sun is well positioned to capitalise on the growth opportunities. We shall come out with a detailed note post attending the conference call. We maintain our Buy recommendation on the stock with a price target of Rs534. At the current market price, the stock trades at 24.2x FY2012E earnings and 21.1x FY2013E earnings.

Punjab National Bank (PNB): PNB delivered a superior performance in Q1FY2012 led by healthy core performance. The margins remained steady despite pressures while fee income showed strong growth. In view of slower credit volumes, likely compression in margins and higher credit cost we have slightly trimmed our FY2012 and FY2013 estimates. We expect PNB

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