Long-term bets: What to Buy, Sell and Hold

Prabhudas Lilladher has initiated coverage on Indraprastha Gas (IGL) with a buy rating and set the price target at Rs 576. The brokerage said IGL's sales momentum is set to pick-up as rising pollution concerns in Delhi spurs demand for Compressed Natural Gas (CNG), and expects compounded demand growth of 4.8% over FY14-17 led by new bus additions at NCR. The stock fell 0.35% to Rs 498.50 on Thursday.

Reliance securities has recommended a hold rating on M&M with a price target of Rs 1,192 citing rural weakness and assuming hangover of recent SC's decision of banning diesel vehicles (above 2000cc) in NCR till Mar 31, 2016. Considering that Delhi accounted for a 4% of its PV volumes in the first half of 2015-16, the ban would likely translate into loss of vehicle orders from Delhi and may impact the financials of the M&M's dealers. The stock rose 2.62% to Rs 1,250 on Thursday.

IDFC Securities has maintained outperformer rating on Tata Communications citing management focus on deleveraging and improving return ratios (asset light model), along with continued traction in the global data services business that would drive stock performance. The stock rose 2.10% on Thursday.

Systematix Institutional Equities has initiated coverage on Apar Industries with a buy rating and target price of Rs 595. The brokerage said with its diversified product profile, co is positioned aptly to witness a surge in profitability led by multiple levers which can lead to significant re-rating.