Let's check out buy and sell ideas from brokerage houses:
Credit Suisse is positive on oil marketing companies (IOC, HPCL and BPCL) and says IOC is the top pick as August 2016 oil demand improved to 11.4 percent YoY from 4.6 percent In July.
The brokerage house is overweight on IOC with a target of Rs 660 per share, BPCL with a target of Rs 600 per share and HPCL with a target price of Rs 1,430 per share.
Jefferies advises buying Coal India with a target price of Rs 330 per share after quarterly earnings.
The brokerage house says realisations disappointed in Q1 but cost was lower as well. Fuel supply agreement realisation declined due to adverse grade mix.
UBS has sell rating on the stock with a target price of Rs 70 per share as it feels stalled projects pose risks to FY17-19 revenue estimates and execution from stalled projects is a while away.
Credit Suisse has maintained outperform rating on Tata Steel with unchanged target price of Rs 440 per share post strong Q1 performance as UK business turned profitable after sale of Scunthorpe.
According to the brokerage house, pension resolution and JV are next catalysts. It raised FY18-19 EBITDA estimates by 9-13 percent and said at USD 790 per tonne of enterprise value looks reasonable.
Credit Suisse has maintained outperform rating on Cairn India with unchanged target price of Rs 245/share.
"Company's discount to Vedanta should narrow as merger with Vedanta nears completion. Next catalyst could be production sharing contract (PSC) extension by the government," the brokerage house says, adding values company's operations at an enterprise value of Rs USD 1.5 billion.
Credit Suisse has maintained outperform rating on Vedanta with unchanged target price of Rs 205 per share as it feels debt concerns eased and focus is back on production ramp-ups.
Target moved up by 4 percent for every USD 10 increase in crude prices. Company remained cheap on EV-EBITDA against peers, the brokerage house says.
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