KRChoksey Views on Tata Consultancy Services, GSK Consumer, Infosys

Tata Consultancy Services - Target of Rs 989

KRChoksey Research has recommended a buy rating on Tata Consultancy Services with a target price of Rs 989 in its September 12, 2008 research report. "Currently IT companies are trading at 13-15x FY09E earnings, which is much below their trading multiples of 30x in Dec’06. We believe that investors’ short term focus on cross currency movement is unwarranted. We also expect investors to shift focus on absolute growth rates and USD/INR currency movements in medium term. We therefore continue to maintain our view on IT sector," says KRChoksey's research report.

GSK Consumer - Target of Rs 781

KRChoksey Research has recommended a buy rating on GlaxoSmithKline Consumer Healthcare with a 12-month target price of Rs 781 in its September 19, 2008 research report. "At the CMP of Rs 619, the stock is trading at 14.4x TTM EPS of Rs 43.0. Going forward, we believe the company is expected to see strong performance driven by leveraging its flagship brand Horlicks and aggressive plans of new launches. We initiate coverage on the stock with a Buy rating and a 12-month target price of Rs 781, implying an upside potential of 26% which is arrived by discounting CY09E EPS of Rs 52 by 15x," says KRChoksey's research report.

Infosys - Target of Rs 2079

KRChoksey Research has recommended a buy rating on Infosys Technologies with a target price of Rs 2079 in its September 12, 2008 research report. "Currently IT companies are trading at 13-15x FY09E earnings, which is much below their trading multiples of 30x in Dec’06. We believe that investors’ short term focus on cross currency movement is unwarranted. We also expect investors to shift focus on absolute growth rates and USD/INR currency movements in medium term. We therefore continue to maintain our view on IT sector," says KRChoksey's research report.