Zee Entertainment Bank of America Merrill Lynch has increased target price by 14 percent to Rs 593 per share and raised FY17/18/19 net income estimates by 2 percent /6 percent /6 percent respectively. It says sale of sports business positive and maintains buy call. Zee may utilise part of the proceeds towards early redemption of redeemable preference shares.
JP Morgan raises target price to Rs 550 per share and says sale of its sports business to Sony Pictures is a positive strategic move. It expects Zee to focus on scaling up its presence across other media assets.
Credit Suisse maintains outperform with target increased to Rs 605 from Rs 525 per share stating that sale of sports business unlocks value from a loss making entity.
Construction stocks IDFC says HCC is the biggest beneficiary with arbitration awards of Rs 2800 crore while potential liquidity infusion for HCC at Rs 2,100 crore. Gammon India, IVRCL, Simplex Infra, NCC & Supreme Infra are key beneficiaries.
BPCL Bank of America Merrill Lynch has neutral with target cut to Rs 610 per share. It raises FY17 EPS estimates by 3 percent. It says falling margins is a risk but ramp-up of Kochi refinery can help.
Citi maintains buy call with target increased to Rs 683 from Rs 652 per share. It says company remains preferred pick amongst oil marketing companies.
CIMB maintains reduce rating with target price at Rs 450 per share. It states loss of market share is de-rating catalyst to keep a check on marketing margins.
Nomura maintains buy call with target unchanged at Rs 740 per share stating that its marketing, volume growth remains strong.
JP Morgan is overweight on the stock with target at Rs 675 per share asearnings ahead of estimates, aided by inventory gains.
MCX Morgan Stanley is underweight with target at Rs 850 per share. Its long-term growth outlook has improved after SEBI-FMC merger but valuations of 41x FY17 P/E drives underweight rating.
Maruti Credit Suisse maintains outperform with target increased to Rs 6,000 from Rs 5,150 per share. The company can potentially surprise on margin front in the next two quarters. It states that re-rating is largely done, it remains a good EPS growth story.
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