What to buy, sell and hold

Goldman Sachs Global Investment Research has reiterated its buy rating on Yes Bank with a target price of Rs 900 citing that the private lender’s results were above expectations. The brokerage said the bank continued to deliver strong retail franchise growth and resilient asset quality post RBI audit. Yes Bank fell 0.91% to Rs 765.30 on Tuesday.

Reliance Securities has maintained a buy rating on NTPC with a target price of Rs 172. The brokerage said the company’s operating parameters were under pressure due to lower system demand and fuel issues. However, it said this had already been factored in at low valuations. NTPC slid 4.28% to Rs 134.25 on Tuesday.

Centrum Equity Research has upgraded its recommendation on Abbott India from sell to hold. The brokerage said the pharma company’s results were in line with expectations and increased the target price to Rs 4,700 from Rs 4,360. It said the key downward risk would be slowdown in the domestic market. Abbott India declined 0.76% to Rs 5,095 on Tuesday.

Nomura has downgraded its rating on Havells India from buy to reduce and has brought down its target price from Rs 304 to Rs 271. The brokerage said the company’s growth remains modest and the valuation is expensive. Further, the continued disappointment on earnings and the usage of the cash surplus generated from the Sylvania sale may be a negative catalyst for the stock, it said. Havells India rose 0.16% to Rs 304.20 on Tuesday.