Merrill Lynch recommends buying Reliance Infra with a target of Rs 1,081, the stock is currently trading at Rs 540. They see positives from the bottoming of Mumbai license area profits, a pick-up in execution and growth across the power, roads and metro rail domains.
Credit Suisse has an outperform stance with a target of Rs 480 onLupin . The company is working on eight products and is planning to launch its first biosimilar in India in FY12. The two most advanced products are about to commence clinical trials.
Merrill Lynch maintains a neutral stance on Coal India with a target of Rs 400. Post strong volume growth in April, the company's production and off take growth has slowed over the last two months partly led by heavy rains. ML expects a deceleration in volumes.
Morgan Stanley maintains an equal-weight on Shriram Transport Finance with a target of Rs 820. The RBI has released a master circular on bank lending to micro, small and medium enterprises and Morgan Stanley believes that given the nature of the recommendations, the outlook on further regulatory changes remains uncertain.
Source : moneycontrol.com
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