Stock Views on Glodyne Technoserve, HCL Technologies, ITC

Reliance Money on Glodyne Technoserve - Target Rs 815

Reliance Money has maintained its buy rating on Glodyne Technoserve with a target of Rs 815 in its September 22, 2008 research report. "At the current market price Rs 683, Glodyne is trading 11x FY09E and 6x FY10E. We maintain BUY, with a revised 12 months target price Rs 815; we had earlier given a target price of Rs 784. On our revised target price stock will be valued at 13x FY09E and 8x FY10E," says Reliance Money's research report.

Reliance Money HCL Technologies - Target Rs 248

Reliance Money has recommended a hold rating on HCL Technologies with a target of Rs 248 in its September 22, 2008 research report. "Industry headwinds have taken its toll on the stock performance of HCL Technologies and it has corrected by almost 25% in the last 5 months. We expect HCL Technologies revenue and net profit to grow at a CAGR of 24% and 32% over FY08E-10E. HCL technologies stock trades at a P/E of 10x FY09E and 9x FY10E earning. We continue to recommend a HOLD on HCL Technologies with a reduced target price of Rs 248, at our target price the stock will be valued at 11x for FY09E and 9x FY10E earning," says Reliance Money's research report.

India Infoline on ITC - Target price Rs 214

India Infoline has recommended a buy rating on ITC with a target price of Rs 214 in its September 22, 2008 research report. "In the coming quarters, we believe the higher cigarette prices would get successfully absorbed by the industry and ITC's cigarette volume decline would significantly reduce. Outlook for the non-cigarette businesses such as hotels and paper remains positive with continued demand buoyancy while the FMCG - others segment is expected to turn profitable by FY10. With the entry into the personal care category, we expect ITC to become a tough competitor for Hindustan Unilever and Godrej Consumer Products. Also, strong cash flows from cigarette business can be invested in advertising heavily to build the personal care portfolio in the initial stage. We recommend a buy with a target of Rs 214," says India Infoline's research report.