What to buy, sell and hold

Systematix Institutional Equities has reiterated its buy rating on Mahindra CIE Automotive but brought down its target price to Rs 280. The brokerage said the company’s results for the December quarter were below their estimates but said the free cash flow and balance sheet improvement was exceptional. Its EPS growth estimates for CY2017 is 31 per cent and for CY2018 is 19.4 per cent. Mahindra CIE declined 3.44 per cent to Rs 171 on Wednesday.

Angel Broking has maintained an accumulate rating on Cadila Healthcare with a target price of Rs 352 citing that the company posted a robust performance for the December quarter with net profit at Rs 389 crore versus the expected Rs 353 crore. Cadila Healthcare fell 3.03 per cent to Rs 320.50 on Wednesday.

JM Financial has retained its hold rating on Zee Entertainment with a target price of Rs 420 citing that the company’s growth visibility is good but valuations remain unattractive. The brokerage said investors should await a better entry point. It said if valuation sustains at 21x then ceteris paribus, the share price would be Rs 490 by March 2017. Zee Entertainment rose 0.36 per cent to Rs 388.50 on Wednesday

Kotak Institutional Equities has maintained its add rating on Infosys with a target price of Rs 1,300 citing that the company is on track for leading growth in FY17. The brokerage said there were plenty of levers available to protect profitability. It values the company at 18.5X Sep 2017 earnings. Infosys went up 0.10 per cent to Rs 1,125 on Wednesday.