Merrill Lynch - Pantaloon Retail

Merrill Lynch recommends SELL on Pantaloon Retail

Target price of Rs 493

Valuations rich, earnings cut, downside risks high

Merrill Lynch - Pantaloon Retail

Merrill Lynch recommends a SELL on Pantaloon Retail

Valuations stretched

Recommend SELL

Merrill Lynch - Cadila Healthcare

Merrill Lynch has a BUY on Cadilla Healthcare with a target price of Rs 425

It trades at 15.4x FY08E, 13.x FY09E which is 25% discount to the sector peers

Merrill Lynch - Sterlite Industries Limited

Merrill Lynch has a BUY on Sterlite Industries

They have quality assets, there is attractive volume growth

They might increase stake in Hindustan Zinc

Attractive valuations compared to global peers

Price target of Rs 808

Merrill Lynch - GSPL

Merrill Lynch recommends a BUY on GSPL

22m shares preferential to IFC at Rs57.3/share

Price Target of Rs 65

Merrill Lynch - Cipla

Profits might be lower in FY08 than FY07

Uncertain margin outlook, rich valuations

Is at Over 25% premium for FY09E earnings

Recommend SELL

Merrill Lynch - Bank of Baroda

Margin focus to be maintained in Bank of Baroda

Merrill Lynch has a price target of Rs365. Re-iterate Buy.

Merrill Lynch - Hindalco

Merrill Lynch has raised the EPS forecasts by 39% in FY09 led by our higher aluminum forecasts.

They have however cut the FY08E EPS by 27% owing to Novelis’ performance being below expectations.

They maintain their Sell rating owing to high valuation.

Merrill Lynch - Nagarjuna Constructions

Merrill Lynch has a BUY on Nagarjuna Constructions with a target of Rs 235 to 255

They think Blackstone stake is very positive and the stock itself is very inexpensive