Brokerage views on ZEE, Petronet LNG, Bajaj Auto and NHPC
The Indian markets were moving in a range with a positive bias on Tuesday, led by gains in ICICI Bank, RIL and Tata Motors Ltd.
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| Updated: NEW DELHI: The Indian markets were moving in a range with a positive bias on Tuesday, led by gains in ICICI Bank, RIL and Tata Motors Ltd.
Following are the latest recommendations by brokerages on select stocks which are likely to be in action today:
ZEE Entertainment Ltd: UBS Securities has downgraded Zee from ‘buy’ to ‘sell’ and has also reduced its price target from Rs 245 earlier to Rs 200. The brokerage firm feels that positives from digitization and improving corporate governance are already price in.
UBS feels that losses arising out of Ten Sports and news channels may dampen near-term earning momentum.
At 11:30 am, ZEE Entertainment was trading 2.2 per cent lower at Rs 214.50. It has hit a low of Rs 214.50 and a high of Rs 221.80 in trade today.
Petronet LNG: CLSA has upgraded Petronet LNG to ‘buy’ with the price target set at Rs 180. The brokerage says the recent correction makes the risk-reward very attractive.
CLSA expects near doubling of volumes and EPS over FY14-17 and expects the stock to also double in the same period. CLSA feels commissioning of Gail’s pipeline to Kochi and second jetty at Dahej by end FY14 are the near term triggers.
At 11:30 am, the stock was trading 0.6 per cent higher at Rs 142.85. It has hit a low of Rs 141.80 and a high of Rs 145.80 in trade today.
Bajaj Auto Ltd: JPMorgan has downgraded Bajaj Auto from ‘neutral’ to ‘underweight’. The brokerage has lowered its price target from Rs 2060 earlier to Rs 1800. JPMorgan says growth outlook is weakening given the rising fuel prices and competition intensifying.
The investment bank has lowered earnings estimates by 4 per cent for FY14 & 15 to factor in uncertain growth outlook.
At 11:30 am, Bajaj Auto was trading 1.4 per cent lower at Rs 1959. It has hit a low of Rs 1944 and a high of Rs 1997.60 in trade today.
NHPC: Credit Sussie has upgraded NHPC from ‘underperform’ to ‘outperform’ post sharp correction. The brokerage maintains the target price of Rs 23, hence expecting a 17 per cent potential upside.
Credit Suisse expects the issue with J&K state government over NHPC’s J&K projects to be resolved in favour of the company. However, a favourable resolution of the issue implies a 13 per cent upside in NHPC stock.
At 11:30 am, the stock was trading 0.5 per cent higher at Rs 19.70. It has hit a low of Rs 19.50 and a high of Rs 20.80 in trade today.
Following are the latest recommendations by brokerages on select stocks which are likely to be in action today:
ZEE Entertainment Ltd: UBS Securities has downgraded Zee from ‘buy’ to ‘sell’ and has also reduced its price target from Rs 245 earlier to Rs 200. The brokerage firm feels that positives from digitization and improving corporate governance are already price in.
UBS feels that losses arising out of Ten Sports and news channels may dampen near-term earning momentum.
At 11:30 am, ZEE Entertainment was trading 2.2 per cent lower at Rs 214.50. It has hit a low of Rs 214.50 and a high of Rs 221.80 in trade today.
Petronet LNG: CLSA has upgraded Petronet LNG to ‘buy’ with the price target set at Rs 180. The brokerage says the recent correction makes the risk-reward very attractive.
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CLSA expects near doubling of volumes and EPS over FY14-17 and expects the stock to also double in the same period. CLSA feels commissioning of Gail’s pipeline to Kochi and second jetty at Dahej by end FY14 are the near term triggers.
At 11:30 am, the stock was trading 0.6 per cent higher at Rs 142.85. It has hit a low of Rs 141.80 and a high of Rs 145.80 in trade today.
Bajaj Auto Ltd: JPMorgan has downgraded Bajaj Auto from ‘neutral’ to ‘underweight’. The brokerage has lowered its price target from Rs 2060 earlier to Rs 1800. JPMorgan says growth outlook is weakening given the rising fuel prices and competition intensifying.
The investment bank has lowered earnings estimates by 4 per cent for FY14 & 15 to factor in uncertain growth outlook.
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At 11:30 am, Bajaj Auto was trading 1.4 per cent lower at Rs 1959. It has hit a low of Rs 1944 and a high of Rs 1997.60 in trade today.
NHPC: Credit Sussie has upgraded NHPC from ‘underperform’ to ‘outperform’ post sharp correction. The brokerage maintains the target price of Rs 23, hence expecting a 17 per cent potential upside.
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Credit Suisse expects the issue with J&K state government over NHPC’s J&K projects to be resolved in favour of the company. However, a favourable resolution of the issue implies a 13 per cent upside in NHPC stock.
At 11:30 am, the stock was trading 0.5 per cent higher at Rs 19.70. It has hit a low of Rs 19.50 and a high of Rs 20.80 in trade today.
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