Indian market opened flat on Tuesday amid worrying trend in crude, which shot up to $118 a barrel from the recent $100 levels. However, there will be 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:

Vedanta: Buy| Target Rs 485

Bofa upgraded Vedanta to buy with a target price of Rs 485 which translates into an upside of over 20 per cent from Rs 400 recorded on 21 March.

The global investment bank upgraded the stock on a strong rebound in operating cash flows. It also raised FY23-24E earnings by 28-32% which is a positive sign.
 

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Ebitda will be contributed from aluminum + zinc + oil segments. The dividend yield is healthy at 9% and key near-term trigger, added the note.

L&T: Buy| Target Rs 2525

Jefferies maintained a buy rating on L&T but slashed its target price to Rs 2525 from Rs 2675 earlier. A target price cut still translates into an upside of over 40 per cent from Rs 1756 recorded on 21 March.

The global investment bank lowered FY22E-25E EPS by 4-8% to factor in commodity price rise YTD.

The company announced Rs143 bn orders in the quarter till date and Rs412 bn more is needed to meet lower end of the FY22E guidance.

Maruti Suzuki: Buy| Target Rs 10300

UBS maintained its buy rating on Maruti Suzuki with a target price of Rs 10300 which translates into an upside of over 30 per cent from Rs 7705 recorded on 21 March.

EV plans get a boost which should allay concerns. Suzuki to invest Rs.100bn+ towards electrification in India.
 
Another positive factor is that Suzuki Motor Gujarat (SMG), co which contract manufactures ICE cars, will be executing these investments, said the note.

HUL: Outperform| Target Rs 2600

Macquarie maintained an outperform rating on HUL but slashed its target price to Rs 2600 from Rs 3200 earlier which still translates into an upside of over 26 per cent from Rs 2600 recorded on 21 March.

Channel checks suggest further weakness in demand trends in 4Q, rural impact more pronounced vs urban, said the note.
 
The 4Q is likely to see volume decline, with input cost pressures restricting Ebitda growth to 8% inflationary pressures. Additionally, weak rural demand remains a risk.

ONGC: Buy| Target Rs 270

Goldman Sachs maintained a buy rating on ONGC with a target price of Rs 270 which translates into an upside of over 50 per cent from Rs 172 recorded on 21 March.

The global investment bank adds ONGC to the conviction list. The global investment bank raised the FY23/24 Ebitda by 23%/16%.
 
ONGC has the highest oil leverage amongst large-cap Asian oil equities. Significant FCF and dividend yield implies attractive valuations, said the note.

(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.)