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    Analyst Calls: Gujarat Gas, SKF India, Ramco Cements, Inox Leisure

    Synopsis

    Jefferies has upgraded Gujarat Gas to buy from hold and raised target price to Rs 240 from Rs 170.

    stock market 4-gettyGetty Images
    Edelweiss has maintained buy rating on India Grid Trust with a target price of Rs 113.
    Good morning!

    The domestic stock market on Friday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 13.50 points lower this morning, signalling a weak start for Dalal Street.

    As you head for the day’s trade, here is a compilation of overnight analyst calls on various stocks.

    • Jefferies has upgraded Gujarat Gas to buy from hold and raised target price to Rs 240 from Rs 170 following the stock's recent underperformance versus peers. Despite weaker FO cracks, the loss of market share to FO is not playing out amidst regulatory support and uncertainty on longer term FO prices thereby mitigating key concern on Gujarat Gas, said Jefferies. Economies of scale and lower spot LNG prices could support margins too, said Jefferies. Shares of Gujarat Gas ended down 0.1 per cent at Rs 195.50 on Thursday.

    • HSBC has cut target price on SKF India to Rs 2,450 from Rs 2,500 on the back of near term earnings cuts. HSBC has retained buy recommendation. The second quarter saw sharp fall in automotive segment and deteriorating mix, cushioned by exports and industrial segment. The industrial segment shows potential and the automotive segment still offers room for share gain, said HSBC. Shares of SKF India ended up 0.8 per cent at Rs 2191.55 on Thursday.


    • CLSA has raised target price on Ramco Cements to Rs 1,050 from Rs 970 while retaining a buy recommendation. The brokerage has raised earnings estimates due to betterthan-expected results. CLSA said Ramco Cements remains its preferred pick due to its focus on growth and cost optimisation, although weak cement prices in south and east India are near term concerns. Shares of Ramco Cements ended up 1.1 per cent at Rs 784.25 on Thursday.

    • Maybank Kim Eng Securities has maintained buy rating on Inox Leisure with a target price of Rs 390. Footfalls in the first half of the year improved 24 per cent year-on-year backed by hits such as 'Bharat', 'Kabir Singh', 'Mission Mangal' etc, the brokerage said. Improvement in key parameters, such as footfalls, new screen additions, food and beverage per patron and ads is sustainable, said Maybank Kim Eng. Shares of Inox Leisure ended up 1 per cent at Rs 364.80 on Thursday.

    • Edelweiss has maintained buy rating on India Grid Trust with a target price of Rs 113. India Grid Trust reported stable second quarter performance with Rs 3 distribution per unit (DPU), said Edelweiss. The RBI’s nod to allow banks to lend to the InvIT is a transformational event and a positive for IndiGrid over the medium term. The brokerage is positive on India Grid's business model. Unit of India Grid Trust ended up 0.5 per cent at Rs 94.5 on Thursday.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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