Reduce Sesa Goa for target of Rs 344 -Angel Securities

Angel Securities in its January 19, 2010 research report has recommended a reduce rating on the stock Sesa Goa for a target of Rs. 344. Angel Securities further goes on to say that “Sesa Goa at the current market price of Rs 406, the stock is trading at 6.9x FY2011E and 5.6x FY2012E EV/EBITDA, respectively. [...]

Buy IndusInd Bank for target of Rs 175 says AnandRathi

AnandRathi Securities in its January 19, 2010 report has recommended a Buy rating on the stock IndusInd Bank for a target price of Rs 175. If further says in its research report that ” The bank’s robust net profit was driven by higher net interest income growth (103.9% yoy) and reduced cost-income (by 747bps to [...]

Accumulate Ultratech Cement says Angel Broking

Angel Securities in its January 18, 2010 research report has recommended a accumulate rating on the Ultratech Cement Stock. It further goes on to say “Ultratech Cement trades at a P/E of 9.6x, at an EV/EBITDA of 5x and at an EV/tonne of USD 95/tonne, according to its FY2012E estimates. On the valuation front, we [...]

JM Financial sees Lifetime High for nifty above 5550

JM Financial’s Vice President and Technical Analyst Gautam Shah sees Nifty consodilating around current levels which in turn will make the nifty to trend above 5300 levels.  He feels that the 5300 level is a very strong resistance zone.  He also feels, that if 5300 levels are broken on the upside, then this move could [...]

Reliance Industries pulls back plans for city Gas Distribution say sources

Mukesh Ambani’s Reliance Industries (RIL), which had earlier planned a Rs 30,000 crore investment across 60 cities for foraying into the business of city gas distribution, has now decided to scale it back.  Sources say that Reliance Industries (RIL) has withdrawn 52 of the 60 expressions of interests (EoIs) it had submitted to the petroleum [...]

Buy Polaris Software Labs for target of Rs 260 says RR Financial

RR Financial Consultants In its January 18, 2010 research report has recommended buy rating on Polaris Software with a target of Rs 260. Polaris Software’s consolidated revenue and net profit have grown at a CAGR of 15.0% and   22.5% respectively over the last five years. This growth has been supported by the company’s   focus in [...]

Buy Sterlite Industries says Motilal Oswal

In its January 15, 2010 research report, Motilal Oswal has recommended a buy rating on Sterlite Industries. “We believe that Sterlite   Industries is the best vehicle to play the commodities cycle. Organic growth in low cost zinc, silver and aluminum operations, and a new revenue stream from the power business would drive robust revenue growth. [...]

Significant risk of double dip recession in 2010 says Harvard Economist Martin Feldstein

Prominent Harvard University Economist Martin Feldstein says that the US economy faces a ‘significant risk’ of another recession in 2010, unless the Obama administration promotes confidence it can manage a growing fiscal deficit. Without public approval, namely from investors, US bond yields will climb, taxes will rise and a fragile recovery will be short lived, [...]

Buy Sintex Industries for target of Rs 369 says Angel Broking

In its January 15, 2010 research report, Angel Broking has recommended a buy rating on Sintex Industries, with a price target of Rs 369. “At Rs 260, Sintex Industries is currently trading at 7.7x its FY2012E Earnings and at 1.4x its FY2012E Book Value. Historically, Sintex has traded at 13.6x its one-year forward average (two, [...]

Maruti Suzuki India hikes prices of all its cars

Maruti Suzuki India, which is India’s largest car maker today in a statement said that it has hiked the prices of all its cars by around 10,000 rupees.  It said that this hike was intended to soften the dent made by the rising input costs, such as steel prices, etc.  The average amount of increase [...]

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