Brokerage Views: Tech Mahindra, Larsen & Toubro, PNB, BPCL, GAIL in focus today

Most brokerages are upbeat on Larsen & Toubro, Bharat Petroleum, GAIL and Exide Industries following the earnings announcements by the companies. They are divided on Tech Mahindra and Punjab National Bank (PNB).

Here's what brokerages JPMorgan, Morgan Stanley, CLSA and CITI recommend on some of the key stocks today:

Larsen & Toubro (L&T)

CLSA, Goldman Sachs, Jefferies, Citi and Nomura each maintained a ‘buy’ rating on the L&T stock, a day after the construction major reported a mixed set of results. JPMorgan and Credit Suisse retained ‘overweight’ and 'outperform’ ratings respectively.

The company's strong order flow was driven by domestic demand, according to analysts.

Tech Mahindra

A day after the IT major reported a set of financial results that met analysts' expectations, brokerages are divided on Tech Mahindra.

JPMorgan, Citi and Macquarie each maintained a ‘neutral’ rating, and HSBC and Jefferies each retained a  ‘hold’. 

BPCL

CLSA and Jefferies each held a ‘buy’ rating on BPCL shares with target prices of Rs 405 and Rs 445 respectively, a day after the state-run oil marketing company reported a quarterly profit after two back-to-back quarters of losses.

GAIL

According to Citi, GAIL's quarterly numbers were disappointing across segments. The brokerage, however, added that the earnings have likely bottomed out, as it upgraded GAIL to 'buy' from 'neutral' with a target price of Rs 110.

Jefferies maintained a ‘hold’ on GAIL with a target price of Rs 90 apiece, highlighting the company's challenged near-term earnings outlook.

Punjab National Bank (PNB)

Brokerages are largely bullish on PNB after the state-run lender reported its financial results for the quarter ended December 2022. 

Exide Industries