Stock Views on Bajaj Hindusthan, IFCI, Sterlite Industries, ABB

ICICI Direct on Bajaj Hindusthan - Target of Rs 188

ICICIdirect.com has come out with its report on Bajaj Hindusthan. According to the research firm Bajaj Hindusthan has an upside potential of 10%."Bajaj Hindusthan, the largest sugar producer in the country would benefit from the rising sugar prices. The Supreme Court judgment on sugarcane pricing at Rs 110/ quintal would also benefit the UP-based sugar producers. Bajaj Hindustan, having the largest ethanol/alcohol capacity of 800 kilo litre per day (KLPD), would benefit the most from the rising prices of rectified sprits, which have risen to Rs 26/litre."

"We believe rising sugar prices, in anticipation of lower production in SY09 would benefit the company, since it is the largest sugar producing company. At the current price, it is trading at SY08E EPS of Rs 5.0 at 34.6x and SY09 EPS of Rs 14.6 at 11.8x. Bajaj Hindusthan has an upside potential of 10% with a target of Rs 188 in one month perspective."

ICICI Direct on Buy IFCI above Rs 48.35 Target 52

ICICIdirect.com has recommended to buy IFCI above Rs 48.35 with a stoploss of Rs 48 and target of Rs 49/52/higher.

Emkay Global on Sterlite Industries - Buy Target of Rs 953

Emkay Global Financial Services has maintained its buy rating on Sterlite Industries (India) with a target of Rs 953 in its September 10, 2008 research report. "We believe the current prices more than factor the downturn in the zinc cycle and ignore the volume growth in Hindustan Zinc. Further, there is a possibility of ASARCO being acquired by Sterlite as early as Dec 2008, which might result in additional value creation for shareholders of Sterlite Industries. We maintain BUY on Sterlite with a target price of Rs 953 considering the restructuring to be value neutral for Sterlite Industries," says Emkay Global's research report.

HDFC Securities on ABB - Resistance at Rs 1180

HDFC Securities has come out with its report on ABB. According to the research firm ABB has support of Rs 766 and resistance at Rs 1180 with 3 months perspective, in its September 11, 2008 report. “ABB possesses a very unique business model due to which it is in a better position even in this sluggish economic scenario. The slowdown in order inflows and longer lead-time of certain large size orders could be a revenue dragger in the short term. But, huge investments in the power and infrastructure sector could provide a cushion for ABB to bag some orders. Moreover, it possesses astrong Balance Sheet with a good working capital cycle as compared to its peers and sufficient free cash reserves could always help ABB in difficult times. ABB being a technologically advanced company has always commanded premium valuations even in worsesituations. It is currently quoting at a P/E of 31.5 times its CY08 (E) earnings," says HDFC Securities.