Accumulate Maruti Suzuki; tgt of Rs 1450: Emkay Global

Emkay Global Financial Services has recommended accumulate rating on Maruti Suzuki India with a target of Rs 1450 in its September 7, 2010 research report.

“Maruti Suzuki India continues to consider raising prices as last resort and focus will be on improving efficiencies and cost reduction. At Rs 1303, the stock trades at PER of 14.7x and 12.8x and EV/EBIDTA of 8.1x and 6.5x our FY11 and FY12 estimates respectively. We have upgraded our volume and EPS estimates as indicated below. Our volume upgrades for FY12 represents faster capacity addition. We have valued the stock at 7.5x EV/EBIDTA (lowest among large cap two wheelers and passenger vehicles), given structural change in margin profile and higher currency risk. Key upside risk arise from higher capacity increase vis a vis our expectation and pricing action. We upgrade the rating to ACCUMULATE from REDUCE. Raise TP to Rs 1450,” says Emkay Global Financial Services research report.

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Add KEC International: IIFL

IIFL is bullish on KEC International and has recommended add rating on the stock in its September 8, 2010 research report.

“KEC International management highlighted that the key reason for the USD 95 million acquisition of SAE Towers is the immediate access to the large and potentially high-growth transmission tower market in the Americas. SAE being the market leader, with 40,000 MT spare tower capacity is well-placed to capture the growth. Though at a CY09 EV/EBITDA of 9.6x, the acquisition seems expensive (KEC is trading at 8.5x FY10 EV/EBITDA), it still is EPS accretive given that KEC plans to fund the acquisition through low cost ECBs and internal accruals.”

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Buy Shriram Transport Finance Corporation: IIFL

IIFL is bullish on Shriram Transport Finance Corporation and has recommended buy rating on the stock in its September 8, 2010 research report.

“Shriram Transport Finance Corporation has extended its concept of “Truck Bazaars”. Potential buyers and sellers of commercial vehicles (CV) will now have access to computerised touch-screen kiosks that provide updated information on all CVs to be sold. The kiosks, branded Shriram One Touch, are to be rolled out across all of its 486 branches. This demonstrates the economic benefits of its strong franchise in its chosen segment of borrowers and the niche asset class. With fee income expected to double in FY11, a buoyant loan growth scenario, 40% of AUM securitised at attractive spreads, and abundant liquidity aiding the liability side of the balance-sheet, Shriram’s business appears robust. Valuation multiples reflect the strong momentum and high RoE, but valuations are still significantly below historical highs. We retain BUY,” says IIFL research report.

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Buy Sun Pharmaceutical Industries; target of Rs 2111: IIFL

IIFL is bullish on Sun Pharmaceutical Industries and has recommended buy rating on the stock with a target of Rs 2111 in its September 8, 2010 research report.

“Sun Pharmaceutical Industries FY10 annual report indicates continued major improvement in the domestic business’s working capital. Strong free cash generation continued, though at a lower pace than in FY09, owing to lower profit (due to Caraco issues and lower Protonix profitability) and the expected increase in Caraco’s receivables. Sun has more than USD 650 million in cash and equivalents, and a further USD 130 million in strategic investments that are not consolidated in financial statements. The domestic market remains the key strength, contributing over 70% of the company’s EBITDA (excluding one-off upsides in the US). Business remains strong across markets and should improve further as manufacturing restarts at Caraco facilities, which we expect in late FY11. We retain BUY with a target price of Rs 2111,” says IIFL research report.

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Buy Sun Pharma; target of Rs 2099: Networth Stock Broking

Networth Stock Broking is bullish on Sun Pharmaceutical Industries and has recommended buy rating on the stock with a target of Rs 2099 in its September 8, 2010 research report.

“Sun Pharmaceutical Industries (SPIL) today announced that the Supreme Court of Israel has unanimously dismissed the appeal by Taro Pharma of the previous ruling by the Tel-Aviv District Court holding that the Israeli special tender offer (STO) rules don't apply to the Tender Offer by Sun's subsidiary, Alkaloida Chemicals, to purchase all outstanding Ordinary Shares of Taro for USD 7.75 net per ordinary share in cash. We have to keep in mind that the open offer to buy shares is at USD 7.75 per share, while the current market price of Taro shares on NYSE is USD 11.40. Looking at the current scenario, it seems highly unlikely that SPIL would be able to garner a significant quantity of shares from the market.”

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Eveready Industries (Rs 79): Buy (Recommended by The Hindu Business Line)

We recommend a buy in the stock of Eveready Industries India from a short-term horizon. It is evident from the charts of the stock that it has been on a long-term uptrend from its December-2008 low of Rs 11.5. Moreover, it took support around Rs 55 in this May and resumed its long-term trend. After testing key long-term resistance of Rs 75 for more than a month, the stock decisively broke out on September 6 by gaining 5.5 per cent with heavy volume. The stock is trading well above its 50 and 200-day moving averages. The 14-day relative strength index has entered the bullish zone from the neutral region and the weekly RSI is featuring in the bullish zone. Both daily and weekly moving average convergence divergence oscillators are hovering in the positive territory signalling upwards momentum. Our forecast on the stock is positive from a short-term perspective. We expect the stock to move up further until it hits our price target of Rs 82 or Rs 85 in the ensuing trading sessions. Short-term traders can buy the stock while maintaining stop-loss at Rs 76.

Yoganand D.



From: http://www.blonnet.com/2010/09/07/stories/2010090751381100.htm

Day Trading Guide for 7.9.2010 recommended by Hindu Business Line

DLF

Fresh long position can be initiated if DLF moves above Rs 323 levels with tight stop-loss.

ICICI Bank

The stock gained 3.8 per cent with good volume on Monday. We recommend a buy with rigid stop-loss at Rs 1,023 levels.

Infosys

Make use of dips to buy the stock while maintaining stop loss at Rs 2,810 levels.

L&T

Initiate fresh short position only if the stock falls below Rs 1,820 levels with tight stop-loss.

ONGC

The stock was volatile in that last trading session and formed spinning top candlestick pattern signalling indecisiveness. Avoid trading in the stock for the session.

Reliance Capital

We recommend a buy with stop-loss at Rs 779 levels.

Reliance Communications

We restate that fresh long position can be initiated only if the stock moves above Rs 165 levels with stiff stop-loss.

Reliance Industries

In the last trading session, the stock gained 3 per cent with above average volume, forming bullish engulfing candlestick pattern. We recommend a buy with stop at Rs 940 levels.

SBI

Initiate fresh long position only if the stock surges above Rs 2,878 levels with tight stop-loss.

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From: http://www.blonnet.com/2010/09/07/stories/2010090751391100.htm

ICICI Bank has substantial upside left in the near term: Satish Betadpur - The Economic Times

ET Now spoke to Satish Betadpur, CFA, Global Research Director, Independent International Investment Research PLC on his stock recommendations.

ET Now: How do you view the banking space?

Satish Betadpur: We like banking. We believe that's the leadership sector for the markets to do well. We have always liked mid-cap PSU banks but of late we have been recommending ICICI Bank as our large cap bet.

We believe ICICI Bank has been penalised for all their irresponsible acquisitions that they have done in the recent past, especially Bank of Rajasthan but given that the valuation discount to majors is substantial, so we believe there is substantial upside in this credit cycle for ICICI. We just hope that they do not do anything dumb or stupid, so if they do not, then we believe that the stock has substantial upside in the near term.

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From: http://economictimes.indiatimes.com/markets/stocks/views/recommendations/ICICI-Bank-has-substantial-upside-left-in-the-near-term-Satish-Betadpur/articleshow/6511057.cms

Hold on to Bharti Airtel till the bull market runs out: Deepak Mohoni - The Economic Times

ET Now spoke to Deepak Mohoni, Director, trendwatchindia.com, on his stock recommendations.

ET Now: Can you just walk us through Bharti Airtel and the targets that we need to watch out for? And how do you view the telecom pack as a whole?

Deepak Mohoni: The entire telecom pack as yet is not really showing that momentum though Idea and Bharti are doing pretty well. So at the moment, stick to these 2, maybe a Tata Communications also could be looked at but at the moment, Bharti definitely has got the momentum, it has gone to a multi-month high.

At this price, it is even at a 52-week high almost. So that is a pretty impressive move. So this is pretty much Bharti specific and the stock should be good for a couple of days more, at least for the short term trader. It could be a good day trade and perhaps not a bad hold till at least the bull market runs out.

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From: http://economictimes.indiatimes.com/markets/stocks/views/recommendations/Hold-on-to-Bharti-Airtel-till-the-bull-market-runs-out-Deepak-Mohoni/articleshow/6510555.cms

VIDEO - Positive on JSW Steel, Jindal Saw: Ashish, Anand Rathi-Hot Stocks-TV-Economic Times

From: http://economictimes.indiatimes.com/tv/hot-stocks/Positive-on-JSW-Steel-Jindal-Saw-Ashish-Anand-Rathi/videoshow/6510562.cms

Buy GAIL India; target of Rs 500: IIFL - Moneycontrol.com -

IIFL is bullish on GAIL India and has recommended buy rating on the stock with a target of Rs 500 in its September 7, 2010 research report.

“GAIL India has been in consolidating mode past two months after stock hit an all time high of Rs 517 in the month of June 2010. The consolidating pattern has lead to appearance on Inverted Head& shoulder pattern which is a bullish structure and sustainable move past Rs 470 can extend rally in the counter towards levels of Rs 517.On weekly chart the bullish support line continue to remain intact which suggest follow up buying taking place during dips. A hammer pattern on Friday’s trading session followed with white candle on yesterdays trading session indicates classical bullish reversal on daily chart. We advise buying stock above Rs 471 with stop loss of Rs 459 for target of Rs 500,” says IIFL research report.

From: http://www.moneycontrol.com/news/recommendations/buy-gail-india-targetrs-500-iifl_483186.html

Buy VIP Industries; target of Rs 573: Firstcall Research - Moneycontrol.com -

Firstcall Research is bullish on VIP Industries and has recommended buy rating on the stock with a target of Rs 573 in its September 4, 2010 research report.

“VIP Industries has a 60% market share in organized market. During the quarter ended, the robust growth of net profit is increased by 60.02% Rs 322.00 million. At the current market price of Rs 484.65, the stock is trading at 18.84x FY11E and 16.06 x FY12E respectively. Price to book value of the stock is expected to be at 5.52 x and 4.06 x respectively for FY11E and FY12E. Earning per share (EPS) of the company for the earnings for FY11E and FY12E is seen at Rs 25.72 and Rs 30.17 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 15% and 69% over 2009 to 2012E respectively. On the basis of EV/EBITDA, the stock trades at 11.60 x for FY11E and 10.24 x for FY12E. The company has reduced its debt from 136 crore to 87 crore in the financial year 09-10. We expect that the company will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs 573 for medium to long term investment,” says Firstcall Research report.

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From: http://www.moneycontrol.com/news/recommendations/buy-vip-industries-targetrs-573-firstcall-research_483067.html

Buy Phillips Carbon Black; target of Rs 270: Angel Broking - Moneycontrol.com -

Angel Broking is bullish on Phillips Carbon Black and has recommended buy rating on the stock with a target of Rs 270 in its September 3, 2010 research report.

“Phillips Carbon Black (PCBL), part of the RPG Group, is the leading producer of carbon black in India, with ~48% of the total installed capacity in FY2010. Currently, with ~65% of the total carbon black production in the country being consumed by the tyre industry, PCBL is well poised to benefit from the rising demand for tyres going ahead. Moreover, we expect the company’s power segment to start contributing substantially to its bottom-line in FY2011 and FY2012 and provide stability to its earnings. We have valued PCBL on the sum of- the parts valuation methodology and arrived at a target price of Rs 270 wherein we have valued PCBIL’s carbon black segment at Rs 144 per share (1x FY2012E P/BV) and the power segment at Rs 126 per share (NPV method). We Re-initiate Coverage on the stock with a Buy recommendation,” says Angel Broking research report.

From: http://www.moneycontrol.com/news/recommendations/buy-phillips-carbon-black-targetrs-270-angel-broking_483065.html

VIDEO : IIFL-Post Market Summary 06.09.2010

IIFL-Post Market Summary 06.09.2010.





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Buy 'godrej inds' :

BUY ABOVE RS.214, TARGET RS.223,
STOP LOSS RS.209,
CLOSED ABOVE PREVIOUS HIGH OFFERS A GOOD OPPORTUNITY.

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SOURCE : DNA

BUY 'EXIDE INDS' :

BUY ABOVE RS.161,
TARGET RS.168,
STOP LOSS RS.157.
CLOSED ABOVE PREVIOUS HIGH OFFERS A GOOD OPPORTUNITY.

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BUY 'DLF' :

BUY ABOVE RS.316,
TARGET RS.329,
STOP LOSS RS.309,
CLOSED ABOVE PREVIOUS HIGH OFFERS A GOOD OPPORTLUNITY.

SOURCE : DNA

BUY "BHARI AIRTEL" :

BUY ABOVE RS.342, TARGET RS.356, STOP LOSS RS.335. CLOSED ABOVE PREVIOUS HIGH OFFERS A GOOD OPPORTUNITY.

SOURCE : DNAINDIA NEWSPAPER

Hold IndusInd Bank; target of Rs 234: Asit C. Mehta

Asit C. Mehta has recommended hold rating on IndusInd Bank with a target of Rs 234, in its September 6, 2010 research report.

“IndusInd Bank (IIB) has been able to turnaround itself by demonstrating a significant improvement in performance across most of the parameters following the change in the top-management. We expect healthy growth in loan portfolio in FY 2010-FY 2012 at a CAGR of ~31% and net profit at a CAGR of 43.8% to Rs 7.1 billion over the same period. We have estimated RoAA of 1.3% and 1.4% and RoAE of 16.5% and 17.4% for FY 2011 and FY 2012 respectively, driven by loan growth, increasing yields and improving core fee income.”

“At CMP of Rs 233 the stock trades at 2.6x FY 2012E ABVPS and 14.9x FY 2012E EPS. IIB has shown a significant turnaround under the leadership of new management. It is in a growth stage and we expect the banks’ profitability and balance sheet size to grow ahead of the industry. We thus assign a multiple of 15x to FY 12 EPS of Rs 15.6 to arrive at a price target of Rs 234 and initiate coverage with a “HOLD” rating on the stock,” says Asit C. Mehta research report.

SOURCE: MONEYCONTROL.COM

Buy Talwalkars Better value Fitness; target of Rs 241: IIFL

IIFL is bullish on Talwalkars Better value Fitness and has recommended buy rating on the stock with a target of Rs 241 in its September 2, 2010 research report.

“Talwalkars Better Value Fitness (TBVF) is amongst the largest fitness chains in the country operating 66 health clubs (including JVs/franchisees), serving over 55,000 members. Incorporated in April ’03, the company offers diverse suite of services including gyms, spas, aerobics and health counseling. Although TBVF operates in a fragmented and competitive market, it has ample room for growth on account of 1) under-penetrated membership rates 2) favourable structural factors and 3) pan-India presence. It plans to add 38 owned gyms in FY11 partly funded by IPO proceeds. Based on cumulative additions of 68 gyms in FY11-12 and estimated annual accrual of Rs 20 million per gym, we project a 4-fold jump in PAT over the next two years. Recommend BUY,” says IIFL research report.