11 Jun , 2021 By : Kanchan Joshi
Benchmark Indian equity indices were up 0.65% at close on Thursday. The Sensex closed at 52,300.47, up 358.83 points, or 0.69% while the Nifty was at 15,737.75, up 102.40 points, or 0.65%. All sectors except auto closed in red. Among broader indices, BSE midcap and smallcap indices closed 1.26% and 1.73% higher on Thrusday. For Friday, SGX Nifty indicates a flat opening for the Indian markets.
Brokerage recommendations:
GAIL: ICICI Securities in a note on Thursday said that GAIL’s Q4FY21 standalone PBT is up 6% YoY driven by rise in petrochemical EBITDA. FY22E outlook for LPG EBITDA is better due to oil price surge, as well as for petrochemical EBITDA given record polyethylene (PE) margins. Oil & spot LNG surge to drive strong rebound.
ICICI Securities has maintained its Buy rating on the stock. Target price revised at Rs207 from Rs184 earlier.
Tata Communications: Emkay Global in a note on Thursday said that the company’s strategy to become a holistic solutions provider is moving in the right direction. Although near term challenges persist on account of Covid-19, we are expecting a recovery in H2FY22.
The brokerage has a Buy stance on Tata Comm with target price of Rs1,480 apiece.
Petronet LNG: Yes Securities in a result note on June 9 said that they believe near-term disruptions won’t impact the long-term prospects for growth in LNG consumption in the country. Petronet has decided to undertake a significant capex program of Rs18,300 crore.
It has a Buy rating on the stock with target price of Rs330 per share.
Galaxy Surfactants: Edelweiss Securities in a June 9 note said that the company posted a strong results again led by margin expansion. Its sustained shift toward specialty chemicals and increasing end-consumers’ focus on hygiene likely to keep up the structural growth.
Edelweiss has a Buy call on the stock with target price of Rs3,653.
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