Brokerage views on Tata Steel, Idea Cellular, Hexaware Technologies

Read on to know what brokerages have to say about select stocks that are likely to be in action today:

Tata Steel Ltd: UBS has upgraded Tata Steel from 'neutral' to 'buy' rating to buy. However, the brokerage has reduced price target from Rs 470 to Rs 450. The cut in price target is due lowering of EPS estimates for FY13 & 14 by 54 per cent & 4 per cent.

UBS believes that Tata Steel's European operations still not out of the woods, but pricing could improve. The brokerage also points out that company's large portfolio of investments provide strong valuation support.

Idea Cellular Ltd: Citi maintains 'buy' rating on Idea Cellular but has upped the price target from Rs 91 earlier to Rs 112. The brokerage has also raised its FY13-15 EBIDTA estimates for Idea by 1-2 per cent.

The brokerage has made its top pick in telecom sector on its high operating leverage to a business recovery, clean domestic play and best in class execution.

United Spirits Ltd: Nomura has upgraded United Spirits from 'neutral' to 'buy' and has upped the price target from Rs 675 earlier to Rs 2200. The brokerage feels Diageo deal transforms the long term story at United Spirits into one where profitability and financial profile improves substantially.

Hexaware Technologies Ltd: Morgan Stanley maintains 'equal weight' rating on Hexware Technologies but has lowered the price target from Rs137 earlier to Rs 115.

The brokerage believes that net income compounded annual growth rate likely to moderate to 7 per cent over next 2 years from 80 per cent seen in last two years. MS has also lowered its earnings estimates by 9-11 per cent for 2013 & 14.