Indian market edged higher on Thursday amid positive global cues as benchmarks gained more than 1% in the opening trade. There will be also stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.

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

L&T: Buy| Target Rs 2340

CLSA maintained a buy rating on L&T with a target of Rs 2340 that translates into an upside of over 33 per cent from Rs 1756 recorded on 16 March.

L&T’s biggest problem child is Metro Rail Hyderabad (LMRH) which is set to turn with debt refinancing. A bounce in traffic following the third wave of Covid and a likely settlement of a large claim via soft loans from the state government will be key factors to watch.

LMRH knocked off 22 per cent of company’s FY21 consolidated PAT. Telangana's robust budget for FY23 includes Rs25bn for Hyderabad Metro Rail over FY22-23, which gives hope of a likely settlement for LMRH’s construction and metro shut-down claims.

Coal India: Overweight| Target Rs 265

JPMorgan maintained an overweight rating on Coal India but raised the target price to Rs 265 from Rs 238 earlier which still translates into an upside of nearly 50 per cent from Rs 177 recorded on 16 March.

Build in conservative E-auction premiums of 50% & 40% for FY23/24, respectively, compared to over 100% premiums currently. The global investment bank sees a consensus earnings upgrade cycle ahead.

Nykaa: Buy| Target Rs 1650

Jefferies initiated coverage on Nykaa with a buy rating and a target price of Rs 1650 that translates into an upside of over 10 per cent from Rs 1496 recorded on 16 March.
 
Nykaa is unique combination of growth and profitability. Nykaa enjoys a leadership position in the online beauty space. EBITDA margin is a key differentiation, said the note.
 
Product assortment, discovery & authenticity is likely to drive high repeats.

(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.)