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).

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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.

Brokerages Rating Price Target
CLSA Buy INR 2570
JP Morgan Overweight INR 2330
Goldman Sachs Buy INR 2550
Credit Suisse Outperform INR 2500
Jefferies Buy INR 2650
Nomura Buy INR 2540
CITI Buy INR 2630

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’. 

Brokerages Rating Price Target
CLSA Reduce INR 1100
JP Morgan Neutral INR 1100
Morgan Stanley Overweight INR 1120
HSBC Hold INR 975
Jefferies Hold INR 1030
Nomura Buy INR 1260
CITI Neutral INR 1025
Macquarie Neutral INR 1110

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.

Brokerages Rating Price Target
CLSA Buy INR 405
Jefferies Buy INR 445

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.

Brokerages Rating Price Target
CLSA Buy INR 110
CITI Buy INR 110
Jefferies Hold INR 90
Macquarie Outperform INR 125

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. 

Brokerages Rating Price Target
Morgan Stanley Equalweight INR 60
CITI Sell INR 35
JP Morgan Overweight INR 72

Exide Industries

Brokerages Rating Price Target
Nomura Buy INR 226
CITI Buy INR 265
JP Morgan Overweight INR 225