Buy, sell, hold: 4 key stocks to watch out post Q3 results

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HCL Tech CLSA reiterates buy call on the stock with target price at Rs 1050 per share as the company retains stronger growth visibility and margin levels compared to peers. It says that success in next-gen equivalents is likely to sustain in the long term. Bank of America Merrill Lynch reiterates buy call with target increased to Rs 935 per share. It says there is least risk from any potential policy changes to H-1B program in US.

HDFC BankCLSA maintains buy on the stock with target price at Rs 1460 per share as bank clearly faced pressure on NII and fees fronts due to demonetisation. The bank may also see an uptick in corporate loan growth and post recent lending rate cuts. It has lowered earnings estimates for FY18-19 by 1-2 percent factoring in slower topline growth. It sees a 20 percent CAGR in earnings over FY16-19. Bank of America Merrill Lynch reiterates buy call with target increased to Rs 1600 from Rs 1544 per share as it is best placed to capitalise on growth, gain market share & maintain credit quality. It estimates net profit growth of 20-24 percent for FY18/19. It raised FY17/18 EPS estimates by 5-6 percent to factor in a rebound in growth.Goldman Sachs has buy call on the stock with target price raised to Rs 1408 from Rs 1381 per share.

Bharti Airtel CLSA retains buy call on the stock but lowered target price to Rs 393 from Rs 398 per share as decline in revenue is hit by double whammy of demonetisation and Jio's free offers. Zee Entertainment Bank of America Merrill Lynch reiterates buy call with target increased by 1 percent to Rs 603 per share as growth in domestic subscription was driven by early closure of content deals.

Credit Suisse maintains outperform with target increased to Rs 625 from Rs 605 per share as tariff order remains a bit of an overhang for the stock. It say cash from sale of sports business could help repay preference shares.

M&M FinancialBank of America Merrill has reiterated underperform with target cut to Rs 210 from Rs 233 per share as  NPL recovery looks some time away while growth may be challenged. Credit Suisse maintains outperform with target cut to Rs 325 from Rs 330 per share as NII missed estimates by 4 percent and bigger miss was driven by credit costs. Its disbursement/loan growth were healthy at 14 percent. The company is probably at the peak of asset quality stress and believes over 25 percent underperformance since demonetisation largely captures pains.