Here are brokerage firms' views on four stocks.
DLF
CLSA has increased target price to Rs 120 from Rs 105 per share as weak residential property business continues to hurt operational performance.
Multi-year low residential sales led to a profit and loss miss. Cash flows continued their negative run rate of Rs 600 crore per quarter and sustained residential turnaround not in sight as investor activity is weak.
Restructuring news-led bounce should be used as a selling opportunity, it says.
LIC Housing
Credit Suisse raised target price to Rs 640 from Rs 625 per share. There are further legs to funding costs story for the company and refinancing of bonds should lead to 95 bps fall in funding costs for company, it says.
IOC
CLSA maintains buy rating with target increased to Rs 675 from Rs 540 per share. It has raised FY17/18 EPS estimates by 37 percent/19 percent.
Q1 profit is ahead of estimates on higher inventory gains and core refining & marketing performance was worse than expected. Its ramp-up of Paradip refinery remains key trigger.
Crompton Greaves
Macquarie maintains outperform with target increased to Rs 92 from Rs 87 per share. It has raised FY18 EPS and target price by 6 percent on higher margin forecast.
The company expects to sell overseas power business by October and ZIV by FY17-end. The company side-stepped on its profit guidance of Rs 3.25 crore for FY17.
Morgan Stanley has equal-weight rating with target at Rs 61 per share as ongoing restructuring leads to margin uncertainty.
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