What to buy, sell and hold

Centrum Wealth has a buy rating on Tata Elxsi with a target price of Rs 2,410. It said the company’s premium valuations are justified because of robust revenue growth and return profile. The stock has already seen some rerating on the back of transformational change and that its premium valuations are expected to continue.

It pegged P/E at 29.9x FY17 and 23x FY18E earnings.

Tata Elxsi stock fell 1.46% to Rs 1,946.85 on Thursday.

Prabhudas Lilladher has a buy rating on J.Kumar Infraprojects with a target price of Rs 400. It said the company had an order book of about RS 3,800 crore as of Dec’ 2015 and has about Rs 5,000-crore potential orders. It valued the stock at PE of 11.3x FY18E earnings. The stock rose 0.56% to Rs 289.75 on Thursday.

Religare has maintained its buy rating on Glenmark Pharma with a target price of Rs 1,040 citing that USFDA observations of its Pithampur plant appear benign. It said the approvals for products from this plant alleviate concerns over the holdback of approvals.

It pegged adjusted P/E at 15.8x FY17 and 13.4x FY18 estimated earnings. The stock fell 0.96% to `784.45 on Thursday.

JM Financial has maintained its buy rating on TCS and increased its target price to Rs 2,750.

The brokerage marginally increased its USD revenue estimates on a betterthan-expected growth in Q4. However, 60 bps margin miss and multiple headwinds in FY17, made it cut 100 bps in its EBITDA margin estimates. TCS fell 1.17% to Rs 2,423.20 on Thursday.