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3 stocks that brokers are betting on

3 stocks that brokers are betting on
Markets are moving in a tight range for the last few weeks. Here are 3 stocks that brokers are recommending.

Tata Consultancy Services

Angel Broking has a buy on the stock of Tata Consultancy Services.

"TCS, in its 3QFY2014 results, reported revenues and operating margin a tad lower than expectations while net profit stood higher than estimates on account of healthy forex gains. The company's performance was impacted due to sequential decline in Indian business revenues; international business revenues grew modestly by 3.8% qoq in USD terms. The company's overall volume growth came in at 1.8% qoq, which is a bit disappointing; however, excluding India business, volume growth was healthy at 2.9% qoq. The Management's bullish commentary, coupled with continued hiring and pick up in discretionary spends point that TCS will continue to be an outperformer in the sector.We maintain our accumulate rating on the stock, " the firm has stated in its research report.


Motilal Oswal has a buy on NMDC with a target price of Rs 174.

"Due to the higher dividend payout, FY15E EPS is cut 1% to Rs 17.2 on reduction in other income. However, we expect the stock to get re-rated on higher dividend payout, boost to RoE and traction in domestic pricing of iron ore fines. We raise the target multiple from 5x to 5.5x, thereby raising the target price to INR173 (v/s INR169), based on FY15E EBITDA. Reiterate Buy," the firm has stated.

IndusInd Bank

Firstcall Research has a buy call on IndusInd Bank.

"Ratio of CASA to total deposits rose to 32.20% (Rs. 180920 mn) in Q3 FY14 from 28.67% (Rs. 146510 mn) in December quarter of the previous year. Bank is also adequately capitalized with CAR of 14.38% (Tier I -13.28%) as on 31st December 2013 as per Basel III norms. With strong fundamentals, IndusInd Bank is expected to outperform its peers in the long run. Thus we recommend BUY for the scrip at a target price of Rs. 470.00 for medium and long term," the firm has stated.

Story first published: Saturday, January 18, 2014, 10:58 [IST]
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