Indiabulls Securities on Power Grid - Target of Rs 110
Indiabulls Securities Research has initiated a buy rating on Power Grid Corporation of India with a target of Rs 110 in its September 23, 2008 research report. "At the current market price of Rs 91.10, the Company is trading at a price to book multiple of 2.73x. Our valuation model gives us a target price to book multiple of 3.29x and a estimated fair value of Rs 110. We have assumed a discount rate of 9.25%. Our target price shows an upside of 21% from the current price. We therefore initiate coverage with a BUY rating," says Indiabulls Securities' research report.
HDFC Securities on Nitin Fire - Target of Rs 525
HDFC Securities has maintained its buy rating on Nitin Fire Protection Industries with a target of Rs 525 in its September 24, 2008 research report. "Revenues and profits of the company are expected to grow at a CAGR of 58% and 66% over FY08 to FY10E. At the CMP of Rs 271, it is trading at 8.2(x) and 6.4(x) its FY09E and FY10E FDEPS. We have calculated a DCF based target price of Rs 525, an upside of 94% from current levels. We maintain our BUY rating on the stock," says HDFC Securities research report.
Hem Securities on Dabur India - Target of Rs 110
Hem Securities has initiated a buy rating on Dabur India with a target of Rs 110 in its September 23, 2008 research report. "Presently, the stock is trading at times to its earnings and times to its book value. We initiate a 'BUY' signal on the stock with a target price of Rs 110 in the medium term investment horizon expecting an appreciation of 25% from CMP of Rs 87," says Hem Securities' research report
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