Buy, Sell, Hold: Investors are tracking 2 stocks & 2 sectors on February 22, 2018

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The global research firm believes that the company could gain market share gradually from the current 32 percent to high thirties. Further, input cost inflation may go into deflation in 3-4 quarters if current spot prices hold. It also believes that the company as a brand has a ‘right to win’ in many food categories outside of biscuit.

Credit Suisse is positive on FY19 tractor demand & margin expansion across multiple segments. It expects earnings CAGR of 25 percent over FY18-20. Further, it expects earnings CAGR of 25 percent over FY18-20. Offtake has been strong even in January, usually a lean month, it said, adding that dealers are expecting the momentum to continue for the next few months.

UBS has upgraded Tata Steel to buy with an increased target of Rs 840, while JSW Steel has been upgraded to neutral with a hiked target of Rs 320. The firm also feels that the sector has solid prospects for the first half of this fiscal, while deleveraging is the key swing factor. Earnings momentum should continue & multiple re-rating is sustainable, it said, adding that balance sheet improvement will slow from here as companies reinvest.

Cement majors have underperformed the Sensex over 6 months, it said, adding that it would position for a volume-driven price rally in H2CY18. Near-term cement price hikes may be slow despite strong volume growth. Its pecking order for buy calls is ACC, Ambuja, UltraTech and Dalmia Bharat.

Macquarie expects GDP growth at 7.2% in FY19 from 6.7% In FY18. It expects consumption, public capex & exports to be main drivers. Going forward, it expects inflation to edge higher until June, partly due to a low base. The central bank, it said, will continue to hold rates, taking peculiar factors into account with respect to inflation.