Should you buy, sell or hold L&T, Tata Power, Biocon, other stocks now?

Share Market News: Domestic equity indices Nifty 50 and Sensex started Thursday’s session on a negative note amid selling pressure in IT, power, FMCG and auto stocks. This marks the last session of the F&O series for October and Samvat 2080. As investors await more corporate earnings from India Inc for signals, here’s how traders are viewing a number of stocks on Dalal Street now.

Table of Contents

Should you buy, sell or hold Larsen & Toubro (LT) shares?

After market hours on Wednesday, private sector construction major L&T reported strong financial performance for the September quarter.

IL&T registered a 5.4 percent year-on-year rise in its consolidated profit to Rs 3,395 crore in the second fiscal quarter. Revenue rose more than one-fifth to Rs 61,555 crore, according to an official filing.

The company’s gross margin dropped by 70 basis points to 10.3 percent due to higher costs and the underlying result. However, it was within 50 bps of analysts’ expectations.

According to Zee Business research, L&T is estimated to register a net profit of Rs 3,288 crore, revenue of Rs 57,522 crore, and a margin of 10.8 percent.

A brokerage	Average	The target
Goldman Sachs	Buy it	It rose to Rs 3,960 from Rs 3,740
Nomura	Buy it	Rs 4,100
Morgan Stanley	Being overweight	R3,857
JPMorgan	Being overweight	R4,360
Jeffries	Buy it	R4,160

Should you buy, sell or hold Tata Power shares?

According to Jefferies, Tata Power’s September quarter EBITDA was 8 percent above its average.

A brokerage	Average	The target
Jeffries	Performance below expectations	It has increased to Rs 340 from Rs 325
Morgan Stanley	Buy it	R560
Nomura	Buy it	R560

Should you buy, sell or hold Biocon shares?

A brokerage	Average	The target
Jeffries	Performance below expectations	It has increased to Rs 280 from Rs230
HSBC	It has been taken down	Revised at Rs 270 from Rs 300
Goldman Sachs	Buy it	Discount on Rs 350 from Rs 360

Should you buy, sell or hold Cipla shares?

A brokerage	Average	The target
HSBC	Buy it	Reduced to Rs 1,755 from Rs 1,890
Citi	Buy it	R1,830
CLSA	Hold on	R1,580

Should you buy, sell or hold Dixon Tech shares?

A brokerage	Average	The target
Jeffries	Performance below expectations	It has increased to Rs 9,750 from Rs 7,900

Should you buy, sell or hold Mastek shares?

A brokerage	Average	The target
Macquarie	Passing by	R3,320

Should you buy, sell or hold AIA Engineering shares?

A brokerage	Average	The target
Nomura	Reduce	Revised to Rs 3,480 from Rs 3,600

Should you buy, sell or hold AB Capital shares?

A brokerage	Average	The target
Morgan Stanley	Equal weight	R262
Jeffries	Buy it	It has increased to Rs 265 from Rs260

Get all the latest stock market updates here. For all other news in trending sectors from technology and automobiles to personal finance, visit Zeebiz.com.

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