The markets are likely to remain volatile on Friday tracking muted global cues, but there will be stock-specific action in which global brokerage firms tweaked their ratings.

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We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:

Motherson Sumi and Ashok Leyland: Upgraded to Outperform

Macquarie upgraded Ashok Leyland, Bajaj Auto and Motherson Sumi to Outperform. The focus is on cyclical recovery plays. The global investment bank prefers PV (passenger vehicle) and CV (commercial vehicle) over two-wheelers.  
 
Macquarie top picks include names like Tata Motors, Maruti Suzuki, TVS and Ashok Leyland.

The global investment bank upgraded Motherson Sumi to Outperform with a target of Rs 265 per share that translates into an upside of over 18 per cent from Rs 224 recorded on 16 December.
 
Macquarie also upgraded Ashok Leyland to outperform with a target of Rs 270 per share that translates into an upside of over 100% from Rs 126 recorded on 16 December.

Amber Enterprises: Buy| Target Rs 4350

Jefferies maintained its buy rating on Amber Enterprises with a target of Rs 4350 that translates into an upside of over 26 per cent from Rs 3443 on 16 December.

In Q3FY22, the company received two PLI approvals under white goods. Faster growth in margin-accretive components business and higher RAC volumes could drive FY22-24e sales/PAT CAGR at +33%/+65%.

Infosys and TCS: Buy

Goldman Sachs maintained a buy on Infosys and TCS post the Accenture results.

Strong upward revision in guidance with solid order book is a positive read across for the Indian IT coverage from both demand and margin resilience amid improved pricing across the business segments.
 
Accenture on Thursday reported a robust first-quarter numbers of the financial year 2022, in this regard, the company witnessed a growth of 27 per cent to $15 billion in both US dollars and local currency, it said in an official statement during the mentioned quarter.

Credit Suisse preferred picks include Infosys, TCS, and HCL Technologies. Accenture reported a strong quarter. FY22 revenue guidance was revised up to 19-22% cc on a year-on-year basis. The global investment bank expects strong multi-year 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.)