Citi maintains buy on Hindustan Zinc and Hindalco.It has upgraded Vedanta and Cairn India to buy from neutral.It has downgraded Nalco to neutral from buy and neutral on Tata Steel.It has a sell call on Jindal Stainless and SAIL.
Nomura has initiated coverage with buy rating and target price of Rs 387. It expects standalone revenue CAGR to accelerate to 15 percent over FY16- 19, expecting EBITDA margin to improve to 12 percent in FY19.
JP Morgan is overweight with price target of Rs 570 per share on new JLR launches and improving domestic environment will drive growth.
Nomura has buy rating with target price of Rs 601 per share. It expects Jaguar sales momentum to remain strong in FY17 led by XE, F-Pace. Land Rover to benefit from launches of Evoque and the new discover. It expects 6-19 percent growth in global wholesales & retail sales of JLR.
Macquarie has outperform with target price of Rs 600 per share, expecting new models to continue to drive growth for JLR in FY16-18.
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