What to Buy, Sell and Hold

Bank of America Merrill Lynch has downgraded its rating on L&T to underperform as it believes continued correction in oil prices could adversely affect capex in the GCC region, which could, in turn, lead to potential execution delays for L&T's order book in the GCC and cost overruns. The brokerage estimates order flow decline of 20.5% YoY in FY16. It has lowered the stock's target price to `967. The stock fell 2.09% to `1,082.90 on Mon.

Prabhudas Lilladher has recommended an accumulate rating on M&M with a price target of Rs 1,418. The broker age said that the launch of KUV100 is positive for the company as it marks dual initiatives -an entry into the high volume smaller vehicle segment where it did not have a presence previously, as well as offering the option of a petrol engine. The stock fell 0.81% to `1,167 on Mon.

Edelweiss Securities has maintained a hold rating on Hindustan Unilever with a price target of Rs 877. The brokerage said that HUL's third quarter numbers were in line with their estimates, and is positive on the com pany's long-term prospects.

However, intense competi tion and moderating rural demand may pose as key risks. The stock rose 0.80% to Rs 810.60 on Monday.

HDFC Securities has resumed its coverage on DRL with a neutral rating and a price target of Rs 3,600, as suming resolution of the FDA warning letter in Q4FY16.

The brokerage forecasts 30% earnings per share (EPS) growth in FY18. The stock fell 2.04% to Rs 2,876 on Monday.