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Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 242 The global research firm said that the company’s Q4 beat and new launches will drive growth going forward. It observed that it has a balanced portfolio of rental and development projects with good scale up potentials. The margin too is expanding on the back of cost reductions and sales recovery, but the debt may increase marginally to 1.15 times from 1.11 times in FY17. Key risks to the stock include blocked capital in hotel assets and stretched balance sheet. Brokerage: CLSA | Rating: Buy | Target: Rs 318 The brokerage observed that the company’s results were above estimates on better revenues. It said that the leasing build-out was steady and expects 20 percent lease income growth in FY18. Furthermore, it said that restructuring was nearing completion stage as well. United Spirits Brokerage: Macquarie | Rating: Underperform | Target: Rs 1,600 The brokerage firm observed that March quarter’s gros...

The board of retirement fund body EPFO is more likely to approve the notion to increase its investment in stocks to fifteen per cent of investible deposits in 2017-18, from the present 10 per cent. "The investment within the alternate Traded funds (ETF) will also be raised to fifteen per cent of the investible deposits in a CBT assembly scheduled the next day to come," a supply stated. The relevant Board of Trustees, the apex decision making physique at EPFO, had deferred a call on the concept to extend exposure in ETFs in its ultimate assembly on March 30. The retirement fund physique invests part of its investible deposits in shares via ETFs. The supply said that the revised agenda for the meeting contains the status report on the ETF funding through the EPFO. "whereas offering the standing report back to trustees, the idea to support the investments in the ETF would be mooted and is more likely to be approved the next day," the supply introduced. The b...