Buy Solar Industries India; target of Rs 52: KRChoksey

KRChoksey is bullish on Solar Industries India and has recommended buy rating on the stock with a target of Rs 52 in its September 2, 2010 research report.

“Solar Industries has traded in forward PE band of 5.40x- 21.45x. There is visible and secular growth potential for the company for next 5-7 years period. Our 9x Forward PE multiple assigned to Solar falls on conservative side. Solar is the most attractively priced among peers (both domestic as well as global) compared to returns it has offered to its shareholders."

Buy Solar Industries India; target of Rs 52: KRChoksey
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* See previous views by KRChoksey
* See what other Experts & Brokerages are saying about Solar Ind
* See messages about Solar Ind

"Gross sales are growing at 23% CAGR from FY10-FY13E due to 33.2% growth in explosives business. Operation of explosive plant in Africa is leading to high growth in explosives sales. This is also shifting revenue mix in favour of explosives (from 59.9% in FY10 to 76.3% in FY13E. Realisation from African market is almost 2.5x Indian market. We recommend STRONG BUY on Solar Industries with 1 year price target of Rs 631.65, which gives potential upside of 39% from CMP of Rs 455,” says KRChoksey research report.

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From: http://www.moneycontrol.com/news/recommendations/buy-solar-industries-india-targetrs-52-krchoksey_482651.html

Buy Solar Industries India; target of Rs 52: KRChoksey

KRChoksey is bullish on Solar Industries India and has recommended buy rating on the stock with a target of Rs 52 in its September 2, 2010 research report.

“Solar Industries has traded in forward PE band of 5.40x- 21.45x. There is visible and secular growth potential for the company for next 5-7 years period. Our 9x Forward PE multiple assigned to Solar falls on conservative side. Solar is the most attractively priced among peers (both domestic as well as global) compared to returns it has offered to its shareholders."

Buy Solar Industries India; target of Rs 52: KRChoksey
ALSO READ

* See previous views by KRChoksey
* See what other Experts & Brokerages are saying about Solar Ind
* See messages about Solar Ind

"Gross sales are growing at 23% CAGR from FY10-FY13E due to 33.2% growth in explosives business. Operation of explosive plant in Africa is leading to high growth in explosives sales. This is also shifting revenue mix in favour of explosives (from 59.9% in FY10 to 76.3% in FY13E. Realisation from African market is almost 2.5x Indian market. We recommend STRONG BUY on Solar Industries with 1 year price target of Rs 631.65, which gives potential upside of 39% from CMP of Rs 455,” says KRChoksey research report.

From: http://www.moneycontrol.com/news/recommendations/buy-solar-industries-india-targetrs-52-krchoksey_482651.html

Buy Solar Industries India; target of Rs 52: KRChoksey - Moneycontrol.com -

KRChoksey is bullish on Solar Industries India and has recommended buy rating on the stock with a target of Rs 52 in its September 2, 2010 research report.

“Solar Industries has traded in forward PE band of 5.40x- 21.45x. There is visible and secular growth potential for the company for next 5-7 years period. Our 9x Forward PE multiple assigned to Solar falls on conservative side. Solar is the most attractively priced among peers (both domestic as well as global) compared to returns it has offered to its shareholders."

Buy Solar Industries India; target of Rs 52: KRChoksey
ALSO READ

* See previous views by KRChoksey
* See what other Experts & Brokerages are saying about Solar Ind
* See messages about Solar Ind

"Gross sales are growing at 23% CAGR from FY10-FY13E due to 33.2% growth in explosives business. Operation of explosive plant in Africa is leading to high growth in explosives sales. This is also shifting revenue mix in favour of explosives (from 59.9% in FY10 to 76.3% in FY13E. Realisation from African market is almost 2.5x Indian market. We recommend STRONG BUY on Solar Industries with 1 year price target of Rs 631.65, which gives potential upside of 39% from CMP of Rs 455,” says KRChoksey research report.

From: http://www.moneycontrol.com/news/recommendations/buy-solar-industries-india-targetrs-52-krchoksey_482651.html

Buy CESC; target of Rs 568: Motilal Oswal - Moneycontrol.com -

Buy CESC; target of Rs 568: Motilal Oswal - Moneycontrol.com -: "Motilal Oswal is bullish on CESC and has recommended buy rating on the stock with a target of Rs 568 in its September 17, 2010 research report.

“CESC has regulated business, comprising largely of the generation (1,225MW) and distribution assets in Kolkata, generates profits of Rs 3.5 billion+ a year. The regulated equity base (RAB) is Rs 22 billion, up from Rs 17 billion as at end-FY09, driven by the commissioning of the Budge Budge 250MW generation capacity in February 2010. Given that FY11 will be the first full year of operations, we expect net profit from regulated business to increase to Rs 4.2 billion in FY11 and Rs 4.4 billion in FY12. Over FY11-12, these will entail equity funding of Rs 11.8 billion; CESC has cash and liquid investments of Rs 13.5 billion as at March 2010.”"

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Buy NTPC; target of Rs 240: Motilal Oswal - Moneycontrol.com -

“NTPC has capacity addition to accelerate, with 17.5GW of projects under construction getting commissioned over FY11- 14. As at March 2010, NTPC has already spent 31% of total project cost on the projects under construction, which is likely to increase to ~47% by the end of FY11. We estimate NTPC's capacity addition in the Eleventh Plan at 9.8GW - a significant underachievement, given the original target of 22.4GW. As a large part of these projects has been under construction since 2007, we expect bunching up of project commissioning, going forward.'"

"FY11BE capex for NTPC stands at Rs 224 billion and is up 120%, indicating that activities on the ground have started improving. We arrive at a target price of Rs 240 (upside of 20%), based on a combination of the DCF and SOTP valuation methodologies. We upgrade the stock to Buy,” says Motilal Oswal research report.

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Buy Power Grid Corp; target of Rs 123: Motilal Oswal - Moneycontrol.com -

Motilal Oswal is bullish on Power Grid Corporation of India and has recommended buy rating on the stock with a target of Rs 123 in its September 17, 2010 research report.

“Power Grid Corporation of India (PGCIL) to achieve the capex of Rs 550 billion targeted under the Eleventh Plan, despite meaningful delays in generation capacity additions, given the incremental capex towards HSTCs. PGCIL has regulated asset base (RAB) to increase from Rs 94 billion as at March 2010 to Rs 140 billion by FY12 (up 50%), with projects of ~Rs 200 billion being commissioned and capitalized in this period.”

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