Trading desk: The movers and shakers on D-Street

Angel Broking has recommended a ‘Sell’ on ABB citing expensive valuations of 42.9 times 2014 earnings. It has set a target price of Rs 442. ABB shares rose 0.31% to Rs 606.50.

>> Axis Capital has initiated coverage of Alstom T&D with a ‘Buy’ and a target price of Rs 193. the brokerage has cited Alstom’s ability to drive longterm T&D growth and better margin growth than peers for the move. Alstom T&D shares rose 1.21% to Rs 163.50.

>> HDFC Securities has said that Sun Pharmaceuticals is a ‘Buy on dips’ and has set a target price of Rs 601. Sun Pharma shares fell 1.42% to Rs 597 on Tuesday. The brokerage said that Sun’s domestic business performance was way ahead of peers, though operating margins of 44% were lower sequentially due to unfavourable product mix in the US.

>>Angel Broking has recommended a ‘Buy’ rating on Monnet Ispat with a price target of Rs 196. Monnet shares fell 1.32% to Rs 145.

>> Emkay Global has upgraded Tata Chemicals to ‘Buy’ from ‘Accumulate’ after the firm’s sales and EBITDA beat estimates The brokerage has set a target price of Rs 365 versus the current price of Rs 279.

>>HDFC Securities has advised investors to ‘Buy’ Britannia at current market price and add it on dips in the price band of Rs 775-813. The firm has set a target price of Rs 964.

>> Karvy Stock Broking has raised SBI’s FY14 earnings estimate by 1% on rise in NIM. It has retained a ‘Buy’ on the stock with a target of Rs 2,000. SBI shares fell 2.20% to Rs 1,783.