Shares of Wockhardt rallied 5.4 percent intraday Thursday after the US health regulator has not found any issues at Chikalthana plant.
According to Rakesh Arora of Macquarie, industrials, autos and real estate provide the best opportunity to gain from the emerging trend. He recommends building long positions on dips.
Shares of Larsen and Toubro (L&T) rallied more than 2 percent intraday to hit an all-time high of Rs 1,795.50 on Saturday. Brokerage Macquarie has retained its outperform rating on the stock with a target price of Rs 1,777 apiece.
Dismissing the recent market correction as a â€œbit of a reality checkâ€, Richard Gibbs of Macquarie said the India economy had several positives going for it and added that foreign investors were now looking for strong leadership in the Union Budget that takes later this month.
Macquarie maintains underperform rating on the stock with a target of Rs 27.30. Despite recent steps by the company on de-leveraging, Macquarie believes much more needs to be achieved for the company.
Reforms such as FDI in insurance, coal auctions, and the sale of stakes in in public sector banks, which are more national-level issues, are unlikely to be affected by the outcome of the Delhi state elections, feels Nomura
Citi has even increased its FY16-17 core EPS by 2/10 percent based on progress on regulatory front and stated that resolution of 483s at Morton Grove is positive. It also adds that risk-reward looks reasonable for Wockhardt.
The brokerage had a cautious view on the stock for past year, awaiting better visibility by regulatory issues and future approvals but Form 483 issued by the US FDA in early 2014 on the Morton Grove US facility has now been resolved, which provides significant comfort around the sustainability of the remaining US business.
Macquarie maintains an outperform rating on the stock with a target of Rs 425 per share as it feels the upcoming spectrum auctions will be key driver. It states, though spectrum auction will pinch the balance sheet in the near term, it should alleviate regulatory uncertainty in the long run.
Goldman Sachs reiterates buy rating with a target of Rs 345 per share. It reasons that Q3 margins were impacted by provisioning of Rs 16 crore pending government‘s clarification on possible restriction on input VAT credit and now the management is confident of 14-14.5 percent market share in Q4.
The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.6 percent and 1.1 percent, respectively.
India's Q2 CAD stood at 2.1 percent, a five-quarter high as exports growth slowed and imports increased because of a rise in demand for gold.
Macquarie maintains outperform rating on the stock with an increased target price of Rs 4500 (from Rs 3650) per share. It has also raised FY15-17 EPS by 1-6 percent on better margin outlook and hopes that Maruti is best placed to benefit from the cyclical upturn in auto demand in India.
Macquarie also maintains outperform rating on the stock with a target price of Rs 650 while Axis is also one of its top marquee ideas in the regional space.
Hariprakash Pandey, CFO, HDIL says the company saw the strongest Q3FY15 pre-sales in three years.
Macquarie maintains outperform rating on the stock with a target price of Rs 202 per share, stating the company has taken measures to offset the slower ramp up of production from underground mines which augurs well for FY16.
"Markets will closely watch the upcoming Budget session in late February. In our view, any market weakness should be seen as an opportunity to buy," says Arora.
The brokerage has set a target price of Rs 2000 implying 40 percent upside. It states that Just Dial has the right mix of businesses, with the search business generating steady cash inflows, while the market place e-commerce venture presents an attractive option value.
Stocks to position for the results on the positive side are Sun Pharma, Crompton Greaves, IRB Infra, HCL Tech and Yes Bank, says Rakesh Arora, Macquarie.
Buying interest is seen in Berger also because it turned ex-stock split in the ratio of 2:1 today. Shares having face value of Rs 2 will be divided into two shares of Rs 1 face value.
Global uncertainty and risk aversion may lead to RBI wanting to delay a rate cut, says Nizam Idris, head of EM FX strategy, Macquarie.
In an interview to CNBC-TV18, Viktor Shvets of Macquarie said that action from central banks is crucial to avoid disinflation, which has been worrying global investors.
Brokerages such as Macquarie, Morgan Stanley, etc., have compiled a list of stocks that are likely to do well in 2015.
Analysts are not very enthused about the stock. Macquarie maintains underperform rating with a 12-month target price of Rs 1850 per share on worries that headwinds due to rising competition in motorcycles.
According to him, the Indian currency will stabilise if oil prices attain some stability. He expects rupee to hover around 64-65 against the dollar going ahead.