Brokerages stay overweight on Crompton, HDFC Bank & Cadila
While the market saw disappointing results on Tuesday, brokerages have firm views of few biggies. JP Morgan is overweight on Crompton Greaves with a target of Rs 300.
July 20, 2011 / 08:31 IST
While the market saw disappointing results on Tuesday, brokerages have firm views on few biggies. JP Morgan is overweight on Crompton Greaves with a target of Rs 300 as they feel the topline disappointment was led by flat growth in overseas subsidiaries and just a 2% year on year growth in the consumer segment. They are maintaining their current estimates subject to further review.
RBS maintains a buy call on NIIT Tech and has raised its target to Rs 295 from Rs 274. RBS has raised its FY12-13 revenue estimate by 11-13% in dollar terms, on the back of large deal wins and strong growth in the core IT business. Morgan Stanley is overweight on HDFC Bank with a target of Rs 530. The bank reported a bottomline broadly in line with estimates. It remains one of their preferred picks in the Indian banking space, given its strong capital base, and virtually no exposure to potentially problem areas like project finance and infrastructure.HSBC maintains its overweight stance on Cadila Healthcare with a target of Rs 1085. Cadila reported a Q1 net profit up 15% year on year, slightly higher than the Bank
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
