Tata Steel and Axis Bank have made it to the Top BUY List of Stocks in Asia Pacific Region according to JP Morgan.
Tata Steel
Tata’s India operations would see volume growth from the 3MT India expansion to be commissioned soon. TATA’s European Operations earnings should improve in CY1Q13 despite concerns on end demand. Price Target of Rs 530.
Axis Bank
Steady improvement in balance sheet quality with higher retail funding. Higher secular growth story with broadening of revenue mix. Low valuation for a growth bank. Price Target of Rs 1400
JP Morgan has Sold Wipro and Kotak Mahindra Bank in the last 1 week according to the report.
