Global View: Axis Bank, HDFC, Vedanta and Ashok Leyland could give 20-40% return

Indian market opened marginally higher on Thursday amid positive global cues.There will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.

We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:

Axis Bank: Buy| Target Rs 1080

CLSA maintained a buy rating on Axis Bank with a target price of Rs 1080 which translates into an upside of over 40 per cent from Rs 750 recorded on 30 March.
 

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Customer retention will be key, but some safeguards are already in place for Axis Bank. Citi’s India retail business is a very attractive business. The deal valuation is fair and not earnings dilutive, said the note.

HDFC Ltd: Outperform| Target Rs 3030

Credit Suisse maintained an outperform rating on HDFC Ltd with a target price of Rs 3030 which translates into an upside of over 27 per cent from Rs 2385 recorded on 30 March.

Ashok Leyland: Buy| Target Rs 138

CLSA maintained a buy rating on Ashok Leyland but slashed its target to Rs 138 from Rs 157 earlier. A target price cut still translates into an upside of about 20 per cent from Rs 115 recorded on March 30.

The global investment bank slashed earnings estimates as commodity pressures are likely to impact margins in the near term.

However, the global investment bank remains positive as commercial vehicle volumes are on an upturn.

Vedanta: Overweight| Target Rs 490

JPMorgan maintained an overweight rating on Vedanta but raised the target price to Rs 490 from Rs 465 earlier which translates into an upside of over 22 per cent from Rs 399 recorded on 30 March.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)