Exide Industries
Citi maintains a 'buy' rating on Exide IndustriesBSE 3.27 %. The brokerage says price hikes, coupled with an increase in market share should result in higher margins for Exide.
Citi says full impact of these two factors should be evident over Q4 FY13-Q1FY14. The recent weakness in stock price provides a buying opportunity given long-term positive catalysts remain intact. The brokerage has set a price target at Rs183, expecting returns of 30.5 per cent.
Adani Power Ltd: CLSA maintains 'sell' rating on Adani PowerBSE 1.70 %. While the brokerage agrees a positive outcome to company's petition for tariff relook could boost revenues for company, but they feel case for tariff revision is weak.
The company remains concerned about the fuel security and high leverage of the company. CLSA has cut FY13-15 earnings by 10-30 per cent but maintains price target of Rs 40.
United Spirits Ltd: CLSA has downgraded United SpiritsBSE 0.74 % from 'buy' to 'sell' after the sharp price increase. The brokerage says sharp rally in stock ahead of final consummation of deal makes risk reward unfavourable and raises concerns on preferential offer.
The brokerage maintains price target of Rs 1900 and says there is downside of 5 per cent from current levels. CLSA says united spirits may see volumes disruptions and lower margins in near term.
State Bank of India:
Religare upgrades State Bank of IndiaBSE 1.33 % to 'buy' with price target of Rs 2540. The brokerage says asset quality improvement likely.(ET)
Citi maintains a 'buy' rating on Exide IndustriesBSE 3.27 %. The brokerage says price hikes, coupled with an increase in market share should result in higher margins for Exide.
Citi says full impact of these two factors should be evident over Q4 FY13-Q1FY14. The recent weakness in stock price provides a buying opportunity given long-term positive catalysts remain intact. The brokerage has set a price target at Rs183, expecting returns of 30.5 per cent.
Adani Power Ltd: CLSA maintains 'sell' rating on Adani PowerBSE 1.70 %. While the brokerage agrees a positive outcome to company's petition for tariff relook could boost revenues for company, but they feel case for tariff revision is weak.
The company remains concerned about the fuel security and high leverage of the company. CLSA has cut FY13-15 earnings by 10-30 per cent but maintains price target of Rs 40.
United Spirits Ltd: CLSA has downgraded United SpiritsBSE 0.74 % from 'buy' to 'sell' after the sharp price increase. The brokerage says sharp rally in stock ahead of final consummation of deal makes risk reward unfavourable and raises concerns on preferential offer.
The brokerage maintains price target of Rs 1900 and says there is downside of 5 per cent from current levels. CLSA says united spirits may see volumes disruptions and lower margins in near term.
State Bank of India:
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