Big global brokerage firms such as Credit Suisse, BofA-ML, Citigroup and CLSA in separate notes to clients have either recommended a buy or outperform ratings on top blue chip stocks like ICICI BankBSE -1.76 %, BHELBSE 4.08 % and others.

The domestic equity market is likely to remain volatile weighed down by global cues, but most market analysts say there is tremendous potential for long-term investors who are disciplined in their approach in allocating money to quality stocks.

Havells India: Outperform | Target price Rs 435
Credit Suisse has maintained an outperform rating on Havells India post Q2 results with a 12-month target price of Rs 435.

The global investment bank sees a slowdown in revenue growth in the forthcoming quarters, but September quarter earnings were largely in line with estimates thanks to a boost from other income.

ICICI Bank: Buy | Target price Rs 320
BofA-ML maintained a buy rating on ICICI Bank with a 12-month target price of Rs 320. The recent large deals are likely to help the largest private sector bank to lower stress on its books.

ICICI Bank has been one of largest lenders to Essar with an estimated exposure of 15-20 per cent of group’s debt. The global investment bank expects equity infusion by promoters in Essar SteelBSE 0.41 %, which will be important for a successful S4A (scheme for sustainable structuring of assets as defined by RBI).

Aurobindo Pharma: Buy | Target price Rs 1,170
Citigroup has maintained a buy rating on Aurobindo Pharma but slashed its 12-month target price to Rs 1,170 from Rs 1,200 earlier. The global investment bank believes the pharma major is well placed to leverage large backend infrastructure and product basket.

Titan Company: Buy | Target price Rs 405
Citigroup has maintained a buy rating on Titan with a 12-month target price of Rs 405. The global investment bank believes it is a good play on the long-term consumption opportunity in India. The company is well-positioned to deliver healthy revenue and earnings growth. It estimated 12-21 per cent revenue/EPS growth CAGR over FY16-18E.

BHEL: Buy | Target price Rs 164
CLSA has upgraded BHEL to buy from sell earlier and raised its 12-month target price to Rs 164 from Rs 155 earlier. BHEL’s client Tangedco won a case on the Ennore project. The project win improves execution visibility of the second largest order for BHEL. CLSA sees potential Rs 78 billion order from Tangedco.