Indian market is likely to trade lower on Wednesday amid muted global cues, but 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:

Dr Reddy’s Laboratories: Buy | Target Rs 5552
 

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Nomura maintained a buy rating on Dr Reddy’s Laboratories with a target price of Rs 5552 which translates into an upside of over 36 per cent from Rs 4064 recorded on 28 February.

Among India Pharma companies, DRL is most exposed to Russia & Ukraine war amid RUB (Russia Ruble) depreciation.
 
DRL sales to Russia accounted for 8-9% of consolidated revenues in the recent past and revenues from Ukraine is at 2% of sales, said the note.
 
With a sharp depreciation in the currency, the global investment bank is of the view that the profitability of operations in Russia will be significantly affected from a 12-month perspective.

However, Nomura remains constructive on Dr Reddy’s Laboratories and thinks that the current weakness presents an opportunity to accumulate the stock for the long term.

Varun Beverages: Buy| Target Rs 1215

Jefferies maintained a buy rating on Varun beverages with a target price of Rs 1215 which translates into an upside of over 28 per cent from Rs 945 recorded on 28 February.

The company has entered into an agreement to manufacture Kurkure Puffcorn for PepsiCo. This move could be a precursor to something big over time as co enjoys a strong relationship with PepsiCo, said the note.

Policy Bazaar (PB Fintech):  Neutral | Target Rs 770

UBS upgraded PB Fintech or Policy Bazaar to Neutral but slashed the 12-month target price to Rs 770 from Rs 1050 earlier. A target price cut also translates into an upside of over 16 per cent from Rs 662 recorded on 28 February.

The core business is on track, and annualized run rate has improved. The upgrade was on the back of strong revenue growth.

(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.)