Brokerage views: Learn to play Hindalco, Exide, TVS Motors

Citi maintains a buy on Hindalco with a target of Rs 234. They reiterate a buy as the stock's 28% fall, year to date more than accounts for plant delays and higher cost on coal and petro derivatives. Citi also expects the steady margin profile of Novelis to sustain.

Deutsche Bank recommends buying TVS Motors with a target of Rs 70. The recent decision of the Karnataka High Court paves the way for the issue of 40,000 new permits for auto rickshaws which is a significant positive for the two-wheeler company.

Ambit recommends buying Exide with a target of Rs 200. With auto companies and equipment suppliers going through a rough phase of moderating volumes and margin pressures, Ambit prefers Exide given its relative immunity to both these challenges.

Credit Suisse maintains its outperform stance on Persistent Systems with a target of Rs 450. The company reported a good first quarter earnings with inline dollar revenue growth. The company is now on track to meet its FY12 revenue guidance of USD 220 million.

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