Brokerage: CLSA | Rating: Buy | Target: Rs 560

The global research firm said that ICICI Pru was among its top picks in the financials space. Further, it said that the firm was focusing on growth with better profitability and said that India offered strong macro growth drivers for life insurance. Going forward, it sees healthy growth premiums and a cut in dividend payout will improve EV growth.

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Cyient

Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 565

Morgan Stanley said that IASI divestment transaction has no implications on the company’s existing relationship with UTC. Further, it added that the company’s exit signals risk to its estimates, but is not material to overall earnings.

Voltas

Brokerage: BofAML | Rating: Neutral | Target:

Bank of America Merrill Lynch said that domestic presents growth opportunity on current base with rural electrification. It also said that the company expects MEP margins to trend up to 7%; may take 3-5 years in their view.

Brokerage: Buy | Rating: Buy | Target: Rs 660

With legacy projects behind, the management expects 5-6% EBIT in the near term. It further said that the stock was trading near its peak multiple which may sustain.

BHEL

Brokerage: UBS | Rating: Sell | Target: Rs 73

The brokerage house said that Mumbai-Ahmedabad bullet train opportunity is too small and too far. The contract implies Rs 10-11 billion annual revenue — 3% of FY18 revenue estimates.

Idea

Brokerage: HSBC | Rating: Reduce | Target: Rs 77

HSBC said that the company’s standalone tower assets sale could be at a discount. While leverage remains a concern, it sees net debt/EBITDA for 2018 at 6.4 times. It also said that benefits of synergy from merger with Vodafone is a key medium-term catalyst for the firm.