The global investment bank expects equity infusion by promoters in Essar Steel , which will be important for a successful S4A (scheme for sustainable structuring of stressed assets as defined by RBI).ICICI Bank has been monetising its stakes in subsidiaries, which has helped it build up contingent provisions. The global investment bank believes ICICI is provisioning a cushion to deliver +10/25 per cent EPS growth in FY17-18E.Citigroup has maintained a buy rating on Aurobindo Pharma but slashed its 12-month target price to Rs 1,170 from Rs 1,200 earlier. The global investment bank believes the pharma major is well placed to leverage large backend infrastructure and product basket.The strong revenue growth, rising capacity utilization, improving product mix would drive earnings growth. The global investment bank believes it is a good play on the long-term consumption opportunity in India. CLSA sees potential Rs 78 billion order from Tangedco.It should also reduce BHEL’s share of slow-moving orders by 30 per cent.

Source: Economic Times October 19, 2016 07:30 UTC