Two analysts issued recommendations on six Indian shares, including sell views on Zydus Lifesciences and Indian Overseas Bank and calls to wait or hold on four others, NDTV Profit reported.
NDTV Profit published the roundup at 3:16 p.m. ET on Oct. 26 (00:46 IST on Oct. 27). The recommendations came from Saurabh Jain, Equity Head, Research, at SMC Global Securities, and Ajit Mishra, SVP-Research at Religare Broking. Jain covered Zydus, Cyient and Bharat Electronics; Mishra discussed Indian Overseas Bank, Shriram Finance and Avanti Feeds.
Zydus Lifesciences said an inspection by the U.S. Food and Drug Administration (FDA) at its Moraiya plant ran from Oct. 5 to Oct. 13 and ended with five observations. The company's filing with the National Stock Exchange of India said it would work with the FDA to address them, but did not describe their substance. Jain linked his sell recommendation to what he called an FDA data-integrity concern, NDTV Profit reported; the concern was not described in Zydus' filing.
Jain said Cyient's quarterly numbers were better than expected and that investors should reassess after its next quarterly report. His recommendation was to wait and watch. For Bharat Electronics, he advised a hold, citing what he described as a strong order book and an investment horizon of three to five years.
Mishra recommended selling Indian Overseas Bank and named ICICI Bank as an alternative. For Shriram Finance, he recommended holding existing shares, advised against adding to the position and cited INR 790 as a stop-loss level. His view on Avanti Feeds was a short-term hold for a possible technical bounce, with INR 640 as a stop-loss. Mishra said a move above INR 720 could put INR 800 to INR 820 in view.
NDTV Profit's disclaimer said the recommendations reflected the advisers' own views and urged readers to consult their own financial or investment adviser before making decisions.
