Axis Bank | Jefferies has maintained an 'overweight' rating on Axis Bank with a target of Rs 1,200 per share. It says its proft was 41 percent higher from the same period last year, tad ahead of estimates with higher NII and lower credit costs.

Dr Reddy's Laboratories | JPMorgan has maintained an 'underweight' rating on Dr Reddy's with a target of Rs 4,450 per share. It says as per the management, the US growth was driven by increase in base business and new launches.

Tech Mahindra | Nomura has maintained a 'buy' rating on Tech Mahindra with a target of Rs 1,316 per share. It says revenue in the first quarter missed estimates because of sharp weakness in the telecom vertical.

Tech Mahindra | Jefferies has maintained an 'underperform' rating on Tech Mahindra with a target of Rs 900 per share. It says the sharp 9 percent quarter-on-quarter decline in the CME vertical and single-digit margin were key negative surprises in its first quarter earnings.

Cipla | Jefferies has upgraded its rating on Cipla to 'buy' with a target of Rs 1,210 from the previous target of Rs 900 per share. It says the pharma company's US growth was driven by base business and the management commentary had positive takeaways.

Axis Bank | JPMorgan has maintained an 'overweight' rating on Axis Bank with a target of Rs 1,000 per share. It says its profit after tax was 2 percent, which was ahead of estimates and driven by lower provisions.