Budget 2016: How banks, oil stocks and ITC are likely to be impacted

Deutsche Bank view on ITC: Maintain Buy Rating with target Price of Rs 400. Only 10 percent excise hike is positive for ITC. See 11 percent earnings growth for FY17. Upside in volumes still capped owing to high prices.Morgan Stanley view on ITC: Remain overweight, Target Price of Rs 400. Co will need 4-5 percent hikes to offset increase in excise. Factor in 13-14 percent retail price hikes for FY17. Likely to see 6 percent volumes growth. Will still deliver 13 percent EBIT growth. Credit Suisse View on ITC: Upgrade to Outperform, Increase target to Rs 370 from Rs 298. Quantum of excise hike a relief as compared to previous years. Expect EBIT growth to return to double digits. Company's valuations attractive at 19x FY18 earnings. Maruti: Kotak had reduced target on Maruti to Rs 4,000 versus Rs 4,900 earlier. The company is most impacted due to Budget negatives and hit its 52-week low in trade yesterday.Oil Companies(ONGC, Oil India, Cairn): Crude oil cess cut from specific rate of Rs 4,500/MT. Crude oil cess cut to ad valorem rate of 20 percent. Reduction in cess on crude oil lower than expectations. Budget 2016 impact on Banks: Recapitalisation contribution disappointing. FM promises more; May touch RBI's kitty. Rate cut may be a minor cheer for bonds, banks. ARC rules liberalised, long-term benefit.Kotak Mahindra Bank: USD 300 million book launched yesterday. Seller not identified. Price range: Rs 611-635. 1.8 crore shares already blocked for an FII investor. BEML: BEML Bags order worth Rs 900 crore for supply of metro coaches. Order from Kolkata Metro Rail Corporation. Total orderbook: Rs 5,683 crore. Other stocks in news are Maruti and Arvind.