BHEL | Nomura has maintained a 'reduce'rating on BHEL with a target of Rs 61 per share. It says its recent order wins appear aggressive, limiting scope of gross margin recovery.

Tata Motors | Goldman Sachs has maintained a 'buy' rating on Tata Motors with a target of Rs 600 per share. It says JLR's long-term DCF indicates valuation of $7 billion within Tata Motors' current market cap of $24 billion.

Axis Bank | Jefferies has maintained a 'buy' rating on Axis Bank with a target of Rs 1,150 per share. It says that the bank's management highlighted that the integration with Citibank is moving well and that they are working on multiple areas of synergies with Citibank.

Delhivery | Morgan Stanley has maintained an 'overweight'rating on Delhivery with a target of Rs 415 per share. It says that it reiterates good long-term growth prospects along with key competitive moats.

Road sector | Nomura on road sector says that the cash flow challenges emerged in FY23 and it expects the ordering momentum to slow down in FY24, ahead of the general elections.