Deepak Nitrite | Morgan Stanley has maintained an 'underweight' rating on Deepak Nitrite with a target of Rs 1,714 per share. It says the company has announced the signing of an MoU with the Gujarat government to invest Rs 5,000 crore over the next four years.

BEL | Jefferies has maintained a 'buy' rating on BEL with a target of Rs 135 per share. It says the fourth quarter EBITDA was above expectations as margin surprised.

Cummins | Macquarie has maintained a 'neutral' rating on Cummins with a target of Rs 1,430 per share. It says the revenue growth is in line, and the key standout in its quarterly results was the better than estimated margin performance.

Biocon | Morgan Stanley has maintained an 'overweight' rating on Biocon with a target of Rs 311 per share. It says the FY24 will be a year of consolidation for the firm.

Indus Towers | Macquarie has maintained an 'outperform' rating on Indus Towers with a target of Rs 200 per share. It says it sees near-term externalities and long-term potential for the company.