Indian markets likely to trade in a range on Friday tracking muted global cues, but there will be stock-specific action in which global brokerage firms tweaked their rating.

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The Nifty50 closed December F&O series expiry above 17,200 levels; however, for the series, the index fell by 1.9 per cent, while the Nifty Bank saw losses of over 6 per cent in the same period, data showed.

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

Bajaj Auto: Overweight| Target Rs 4,742

Morgan Stanley remained overweight on Bajaj Auto for a target of Rs 4,742 that translates into an upside of nearly 50 per cent from Rs 3,201 recorded on 30th December.

The two-wheeler maker will set up a new EV plant with 0.5mn p.a. capacity. It will deploy 'cutting edge robotic & automated’ manufacturing systems, which is a positive sign.
 
Vehicles from the new plant are likely to be rolled out by June 22, said the note. Premium 2W, strong exports, improving 3-wheeler volumes, and EV initiatives keep us remain overweight on the company, highlighted the note.

HSBC on Auto Sector:

Hero MotoCorp: Upgraded to buy from hold| Target Rs 3,100

HSBC upgraded buy on Hero MotoCorp from hold earlier but slashed its target price to Rs 3,100 from 3,200 earlier that translates into an upside of 27 per cent from Rs 2,432 recorded on 30th December.

Bajaj Auto: Buy| Target cut to Rs 4,100

HSBC maintained its buy rating on Bajaj Auto but slashed its target price to Rs 4,100 from Rs 4,500 earlier, which translates into an upside of 28 per cent from Rs 3,201 recorded on 30th December.

Maruti Suzuki: Buy| Target Rs 8,200

HSBC maintained its buy rating on Maruti Suzuki but raised its target price to Rs 8,200 from 8,100 earlier that translates into an upside of over 12 per cent from Rs 7,282 recorded on 30th December.

M&M: Buy| Target raised to Rs 1,120

HSBC maintained its buy rating on M&M but raised its target price to Rs 1,120 from Rs 1,110 that translates into an upside of over 35 per cent from Rs 829 recorded on 30th December.
 

Tata Motors: Buy| Target Rs 550

HSBC maintained its buy rating on Tata Motors with a target price of Rs 550 that translates into an upside of over 17 per cent from Rs 470 recorded on 30th December.

(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.)