Milky Mist shares get 'Buy from DAM Capital; Vedanta Aluminium receives 'Sell' call from Ambit

Brokerage firms have issued fresh calls on a range of stocks, with Ambit Capital initiating coverage on Vedanta Aluminium Metal Ltd with a 'Sell' rating and DAM Capital Advisors recommending 'Buy' on Milky Mist Dairy Ltd. Raymond Realty also received a 'Buy' call from Cholamandalam Securities, while HSBC upgraded Blue Star Ltd.

The latest set of recommendations also included rating changes for Ahluwalia Contracts, IFB Industries, NMDC and Indraprastha Gas. PL Capital recommended 'Buy' on Praj Industries Ltd, while Axis Securities maintained a positive view on Tube Investments.

Ambit Capital initiated coverage on Vedanta Aluminium with a 'Sell' recommendation and a target price of Rs 370, implying a 16 per cent downside from Monday's closing price. DAM Capital Advisors suggested 'Buy' on Milky Mist with a target of Rs 175, indicating a 25 per cent potential upside. Milky Mist got listed at 18% premium over its IPO issue price on NSE and BSE today.

Cholamandalam Securities initiated coverage on Raymond Realty with a 'Buy' rating and a target of Rs 686, implying a 19 per cent upside from the prevailing price.

SMIFS cut Ahluwalia Contracts to 'Reduce' from 'Buy' with a target of Rs 759. HSBC analyst Vishal Goel upgraded Blue Star to 'Buy' from 'Hold' with a target of Rs 17,80, suggesting an 18 per cent potential upside. YES Research downgraded IFB Industries to 'Neutral' from 'Add' with a target of Rs 1494, which suggests an 8.2 per cent potential upside. The same brokerage upgraded NMDC to 'Neutral' from 'Reduce' with a target of Rs 87.

Systematix cut Indraprastha Gas to 'Hold' with a target of Rs 171, indicating a 13 per cent upside ahead. PL Capital upgraded Praj Industries Ltd to 'Buy' from 'Accumulate' and set a target of Rs 390. Axis Securities said Tube Investments is a 'Buy' and fixed a target of Rs 3,600.

Among the key calls, Vedanta Aluminium Metals received a 'Sell' recommendation from Ambit Capital, while Milky Mist, Raymond Realty, Blue Star, Praj Industries and Tube Investments were among stocks that drew positive recommendations or upgrades from brokerages, as per data available with Bloomberg.