L&T | Jefferies has maintained a 'buy' rating on L&T with a target of ₹3,400 per share. It says the company's second quarter EBITDA came in at 4% which was lower than estimates.

Navin Fluorine | Jefferies has maintained a 'hold' rating on Navin Fluorine with a target of ₹3,165 per share. It says the company's management hinted at the possibility of raising equity capital to derisk the balance sheet and pursue capex.

Birlasoft | Nomura has maintained a 'buy' rating on Birlasoft with a target of ₹630 per share. It says the company's second quarter revenue and margin are head of estimates.

Bharti Airtel | CLSA has maintained a 'buy' rating on Bharti Airtel with a target of ₹1,110 per share. It says the company witnessed growth in home broadband and enterprise businesses.

UPL | Morgan Stanley has downgraded its rating on UPL to 'equal-weight' with a target of 590 per share. It says the market is likely to remain skeptical on the company's revised guidance.

Tata Consumer Products | Morgan Stanley has maintained an 'overweight' rating on Tata Consumer Products with a target of ₹933 per share. It says the company's second quarter earnings were ahead of the brokerage's estimates, led by a beat on margin.