Trading Desk: L&T, Cairn India, Siemens, Dishman Pharma, Tata Global Beverages

L&T

Deutsche Bank has kept a ‘buy’ rating on L&T with 12 month price target of Rs 1090 saying that the management has been cautiously optimistic on outlook. If L&T meets its 2014 revenue guidance the upgrade cycle could continue into 2015 making the company an early recovery play, the report said. The stock ended 3.97% higher at Rs1002, an 8.7% discount to the target price.

Cairn India

Goldman Sachs maintains ‘buy’ rating on Cairn India with 12 month price target of Rs405 citing the proposed buy back which reflects the management’s intention to return surplus cash to shareholders and reduce market uncertainty regarding the cash holdings. Cairn ended up 1.21% at Rs330.

Siemens

JP Morgan has termed Siemens Rsunderweight’ with a price target of Rs400. The brokerage says the stock is trading at an expensive 54 times to its price to earnings (P/E) multiple. Siemens ended 6.94% higher at Rs601.

Dishman Pharma

Karvy has put a buy rating on Dishman Pharma with 12 month price target of Rs110 due to improved outlook for the contract manufacturing business. The stock closed 2.59% higher at Rs83.

Tata Global Beverages

Angel Broking has maintained a ‘neutral’ rating on Tata Global Beverages. The brokerage expects the company to post compounded annual growth ( CAGR) of 9.5% and 14.9% in its top-line and bottom-line respectively for the full year. Tata shares ended 0.28% higher at Rs142.