One may avoid YES Bank at this point in time, says Suresh Ganapathy, Banking Analyst at Macquarie.
Macquarie has an underperfrom rating on UltraTech Cement with a target price of Rs 1381.
The overall scope for investment in oil and gas sector is good and one should invest aggressively in it, says Jal Irani of Macquarie. He told CNBC-TV18 that easing subsidy burden, gas price hike next year will make these stocks look attractive.
RBI's announcement to buy bonds has confused the market and by buying bonds the central bank is subsidising outflow at a better price, so the market is still looking to sell the rupee, says Nizam Idris of Macquarie.
According to Nizam Idris, if the trade deficit data for August is less than 10 billion then it is a positive for the economy and that may stabilise the rupee.
Four brokerages have given their contrarian views on Tata Steel post its Q1 numbers
Tata Steel, which is India's top steelmaker by market value, also said on Tuesday it expects demand to recover by the end of the year in Europe, where it derives two-thirds of its 27 million tonne annual capacity.
Macquarie upgrades Cipla Ltd to "outperform" from "neutral" and raises its target price to 480 rupees from 400, saying the drugmaker's April-June earnings were "significantly above" their estimates.
The US results were a relief after Ranbaxy shares had tumbled 36 percent as of Wednesday's close since the drug maker pleaded guilty to US felony charges related to drug safety and agreed to pay USD 500 million in settlement.
The bangalore-based real estate developer Prestige Estates Projects' bottomline surged 75.9 percent year-on-year to Rs 86.7 crore in first quarter despite sharp rise in tax expenses.
"The management of JSW Energy increased guidance of merchant realisation and the company may generate free cash flow of around Rs 1400/1600 crore in FY14/15," Macquarie report said.
Three brokerage firms have given their contrarian views on Dish TV that announced disappointing Q1 numbers.
Hero reported a net profit of 5.49 billion rupees for the three months to end-June, compared with 6.15 billion rupees a year earlier. Net sales fell to 61.27 billion rupees from 62.47 billion rupees.
While the stock valuations still remain supportive, multiples could be under pressure in the near to medium-term, driven by uncertainty around remediation timelines and future approvals, Macquarie says.
Jal Irani of Macquarie says that with KG-D6 volumes halving YoY, the profit of Rs 5352 crore was expected.
The Indian market on Thursday closed on a positive note with the Sensex gaining 203 points to close the day at 20151 and the Nifty gaining 65 points to close the day at 6038
There has not been much appreciation in the rupee because fundamentally the rupee should continue to weaken given the Current Account Deficit (CAD) and fiscal deficit, says Nizam Idris of Macquarie.
According to Macquarie Securities, significant capital outflows from India amid an environment of already weak growth and slow progress in undertaking much needed policy reforms is weighing down potential growth.
Rakesh Arora of Macquarie says that expectations from Q1 earnings are low, so even a weak outcome may not make too much of a dent.
Here are the four stocks brokerages recommend trading on, namely Titan, Glenmark, Ultratech and Rel Comm.
Nizam Idris, Head of EM Fx Strategy, Macquarie sees pressure in rupee due to strengthening of dollar. He told CNBC-TV18 that he is expecting rupee to breach the 61 per dollar mark.
Macquarie's Nizam Idris sees rupee breaching 61/USD in the near-term. He, however, expects rupee to stabilise in medium term.
Mahesh Nandurkar of CLSA says he is overweight on good quality cyclical stocks. â€œTop picks are ICICI Bank, Axis Bank, Maruti, L&T and Zee Entertainment,â€ he adds.
Michael Gavin of Barclays expects financial markets to remain volatile in the run-up to the September FOMC decision on tapering asset purchases.
Industry experts see worse times for the Indian economy. They expect the Sensex and the Nifty to fall by another 15-20 percent and the rupee may touch 63-65/USD levels.