Hot Stocks: Brokerage views on Mphasis, Ashok Leyland, ITC and Piramal Pharma

Macquarie has downgraded Mphasis to underperform and lowered its target price, while maintaining an outperform rating on Mastek. Bofa Securities has a buy rating on Ashok Leyland, citing the company’s good strategy and predicted margin improvement. Nomura retained its buy rating on ITC, citing gradual improvement in rural demand and strong volume growth in the cigarette business. Jefferies also kept its buy rating on Piramal Pharma, noting the company’s strong order book and potential for surprises in complex hospital generics.