Indian market started nearly 0.50% higher on Thursday amid positive global cues. As the market goes into trading, tthere 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:
 

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Tata Motors: Overweight| Target Rs 630

JPMorgan initiated coverage on Tata Motors with an overweight rating and a target price of Rs 630, which translates into an upside of over 40 per cent from Rs 499 recorded on 16 February.

Potential bull case fair value stands at Rs783, which translates into an upside of 57 per cent. The global investment bank sees Tata Motors to make an EV leadership in Indian PVs & meet medium-term targets at JLR.

The automaker demonstrated commitment to balance sheet deleveraging, and structural strengthening of its business – JLR & India – since 2019.
 
The global investment bank believes that the company can achieve its zero-net-debt target by FY24 (vs Rs604bn currently).
 
It can achieve a zero debt target by FY24 by continuing to execute its “self-help” strategies of –

1 Mix improvement & right-sizing of costs/investments in JLR
2 Model launch led market-share gains in India PV
3 Strengthening its CV leadership

Eicher Motors: Buy| Target Rs 3300

UBS maintained its buy rating on Eicher Motors with a target price of Rs 3300 which translates into an upside of over 21 per cent from Rs 2706 recorded on 16 February.

The management addressed key concerns on production ramp-up (semis shortage), & management attrition.
 
The management also spoke about healthy domestic demand and further opportunities in the international business. The company is adapting to the digital era, and non-bikes revenue is on the rise which is a positive sign.

Tech Mahindra: Buy| Target Rs 1710

Citigroup maintained a buy rating on Tech Mahindra with a target price of Rs 1710 which translates into an upside of over 18 per cent from Rs 1444 recorded on 16 February.

The deal pipeline remains strong, and the win rate has improved which is a positive sign for the bulls.
 
There is good revenue visibility given decent net new deal TCV trends. Futures growth will be driven by 5G. The management outlined multiple steps taken for margins.

(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.)