Indian markets on Monday made a gap-down opening as Nifty opened below 15750 levels and Sensex slipped marginally by 56 points. Broader markets started flat with positive bias.  

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Investors may see a stock-specific action in L&T, JSW Steel, Hindalco, IndusInd Bank and IDFC First Bank in which global brokerages came out with their reports on business development, or earnings outlook. 

Larsen and Toubro 

Global brokerage firm Macquarie has maintained an Outperform rating on L&T with a target price of Rs 2030 per share (30% upside). The stock on Friday had closed at Rs 1572 per share level. 

JSW Steel 

Jefferies has maintained an Underperform rating on JSW Steel with a revised target price of Rs 405 from Rs 450 per share. The stock on Friday closed at Rs 561 per share levels. Jefferies said earnings visibility of metal firms are poor, while consensus downgrades will continue. 

Hindalco 

Jefferies also maintained a Hold rating on Hindalco with a revised target price of Rs 410 from Rs 440 per share. It’s still early to turn constructive on metal stocks as PB valuations remain above historical troughs, Jefferies said. 

IndusInd Bank 

Morgan Stanley gives an Overweight rating with a target price of Rs 1300 per share (61% upside). it said loan growth improved to 18 per cent year-on-year against 12 per cent YoY last quarter. 

IDFC First Bank 

Morgan Stanley gives an Underweight rating on IDFC First Bank, says overall funded assets and retail funded assets growth picked up. It said good traction in customer and CASA deposits, while asset quality continues to improve. It sets a target price of Rs 33 per share.