Here are three stocks that brokerage firms are betting on
Macquarie maintains outperform rating with target increased to Rs 193 from Rs 174 per share. It believes current multiples have moderate re-rating potential.
Bank of America Merrill Lynch retains neutral rating with increased target price to Rs 184 from Rs 166 per share on potential overhang of a delay in receivables. It has increased FY17-19 EPS by 1-5 percent to account for higher capitalisation
Credit Suisse has an outperform call with raised target to Rs 225 from Rs 200 per share. It has increase FY17-19 EPS by 4-5 percent based on higher incentives.
Macquarie cuts FY17/18 EPS estimates by 15/6 percent with target price cut to Rs 1550 from Rs 1650 per share. It has cut estimates driven by lower contribution from PSAI and EM business.
Credit Suisse maintains outperform expecting recovery in H2FY17. It has cut estimates by 30 percent/22 percent in 2017/18 to factor in API weakness. It says margin may hit 20 percent in second half with recovery in Africa business.
Credit Suisse maintain outperform with Halol resolution could bring back EBITDA of USD 90 million.
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