What to buy, sell or hold?

IndiaNivesh Securities has a buy rating on Tata Power with a target price of Rs 104 citing that the stock has underperformed in past years because of the uncertainty related to the compensatory tariff of Mundra UMPP. The brokerage said now that APTEL has given its judgment, which is favourable for the company, this will be the key trigger for the stock. Tata Power rose 2.72 per cent to Rs 75.55 on Wednesday.

Edelweiss has a buy rating on PI Industries with a target price of Rs 725 citing that the stock is all set to leap. It estimates Nominee Gold’s impact on earnings to be limited and the company to clock sales of 19.2 per cent CAGR over FY16-18. The stock is trading at 25.6x FY17 and 20.8x FY18 estimated earnings. PI Industries fell 0.63 per cent to Rs 681.70 on Wednesday.

Motilal Oswal has a neutral rating on NIIT Technologies with a target price of Rs 560 citing that the company’s biggest thrust in FY16 was on reducing the footprint in government business and trying to expand revenue share from international business. It pegged P/E at 9.4x FY17 and 8.6x FY18E earnings. The stock rose 4.98 per cent to Rs 537.95 on Wednesday.

Centrum Equity Research has a buy rating on Sun TV Network with a target price of Rs 490 citing that the structural changes undertaken by the management would help the company gain market share in fiction programming and further boost ad revenues. It pegged P/E at 14.8x FY17 and 12.6x FY18E earnings. It expects the company to be the biggest beneficiary of phase-III/IV digitisation. The stock fell 0.71 per cent to Rs 358.50 on Wednesday.