Buy, sell or hold: Analysts pick 4 stocks post Q1 results
Infosys | TCS | Laxmi Vilas Bank | Britannia | GTL | Tanla Solutions | Sagar Cements | Technofab Engineering | IG Petro | Shirpur Gold Refinery | Motherson Sumi | Aptech | Ashok Leyland | Bajaj Finance | GAIL | ONGC and Alstom T&D are stocks, which are in the news today.
PRECIOUS METALS MARKET ROUNDUP
Deutsche Bank reiterates sell rating on expectation of a muted 4 percent volume growth in FY17 but increased target price by 9 percent to Rs 350 per share. Its gas transmission volume at 96.4 mmscmd in Q1 is led by higher LNG volume while low oil price is negati0076ely impacting petchem profitability.
JP Morgan has neutral call on the stock with target at Rs 235 per share stating that the stock could see a positive reaction to Q1 results. It adds sustainability of cost reductions could be a key driver in FY17.
CLSA has a sell rating on the stock with a target at Rs 35 per share. Q1 performance wasn’t a surprise to us, given a weak base in Q1FY16. Its margin is much lower than competitor IndiGo.
Jefferies retains underperform with target at Rs 90 per share as gross margin remained weak and order book is down.
Precious metals prices dipped on Wednesday, losing momentum due to profit-taking after it soared by the most in over two months in the previous session on economic data that weakened the case for an imminent U.S. rate hike.
SPDR Gold Trust GLD, the world's largest gold-backed exchangetraded fund, said its holdings stood at 951.81 down 0.33 tonnes, from previous business day.
Holdings of the largest silverbacked exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 11281.84 up 35.44 tonnes, from previous business day.
Precious metals are trading higher on COMEX today. We expect prices to trade higher for the day as the dollar slipped and investors awaited cues on monetary stimulus from a European Central Bank policy meeting due later in the day.
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