Stock View on Reliance Communications, Idea Cellular, Assam Company, Great Offshore

Angel Broking on Reliance Communications - Target Rs 595

Angel Broking has maintained its buy rating on Reliance Communications (RCOM) with a target of Rs 595 in its September 20, 2008 research report. "We expect RCOM to record a 24% CAGR growth in Top-line over FY2008-10E, while Bottom-line is expected to grow at a CAGR of 17% over the same period. We estimate a relatively flat Margin profile. At Rs 374, the stock is trading at 10.9x FY2010E EPS. We maintain a Buy on the stock, with a Target Price of Rs 595. This includes Rs 479 as the core business value and Rs 116 as the value of the towerco, Reliance Infratel," says Angel Broking's research report.

Angel Broking on Idea Cellular - Target Rs 104

Angel Broking has maintained its buy rating on Idea Cellular with a target of Rs 104 in its September 20, 2008 research report. "At Rs 82, the stock is trading at 14.5x FY2010E EPS. We maintain a Buy on the stock, with a Target Price of Rs 104. This includes Rs 73 as the value of the core business and Idea’s stake in Indus Towers fetches Rs31. We have been conservative on the core business valuations, given the Margin pressures likely to be faced by the company owing to falling ARPUs, intensifying competition and regulatory risks," says Angel Broking's research report.

Anagram Research on Assam Company - Target price Rs 24

Anagram Research has upgraded its rating on Assam Company to buy with a target price of Rs 24 in its September 20, 2008 research report. "At CMP of Rs 20 we find the stock attractively valued. The stock looks expensive in terms of earnings as tea business contributed 80% of earnings while price factors in the future prospects of oil & gas business. We upgrade our rating to Buy with a price target of Rs 24," says Anagram's research report.