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

Elara Securities

has retained its sell rating on ITC but cut the stock's target price to Rs 281 from Rs 284. The brokerage expects the stock to underperform FMCG peers over the next four years of the current government due to sustained risk of harsher tax and non-tax measures coupled with a decline in cigarette volume and subdued profit growth. The stock rose 1.2% to Rs 321.2 on Thursday.

Edelweiss Securities

has maintained a buy rating on Havells India citing the company's move to exit Sylvania which will help enhance its focus on domestic operations. The brokerage believes the company will be one of the major beneficiaries post the slowdown in the domes tic business eases as it continues to invest in its brands and distribution network.

JM Financial

has maintained buy rating on Persistent Systems with a target price of Rs 800. The stock fell 0.12% to Rs 672 on Thursday. According to the brokerage, the near-term visibility re mains low but independent software vendor's (ISV) product pipeline is robust which bodes well for the medium-term offshore product development (OPD) outlook.

Axis Capital

has initiated coverage on Kesoram Industries with a buy rating citing balance sheet recapitalisation and strong turnaround in profitability of tyre business. Also, the cement business will remain a pillar stone for steady cash flows, said analysts. The brokerage has set the stock's target price at Rs 153. The stock rose 4.99% to Rs 98.85 on Thursday.