SKP Securities views on TIL, Shree Cements

TIL - Target Rs 300

SKP Securities has recommended a buy rating on TIL with a target price of Rs 300 in its October 29, 2008 research report. "Net sales were up by 49.69% for Q2FY09 at Rs 264.12 crores. PAT was up by 49.02% y-o-y at Rs 9.12 crores. At the current level of Rs 156.60, TIL is trading at 3.14 x FY10E earnings of Rs 49.91. We are revising our price target and recommend a BUY to the stock with a target price of Rs 300 at 6 x FY10E earnings, giving it an upside potential of 92%," says SKP Securities' research report.

Shree Cements - Target Rs 900

SKP Securities has recommended a buy rating on Shree Cements with a 6-month target price of Rs 900 in its October 22, 2008 research report. "Profit after Tax (PAT) is marginally up by 1.19% at Rs. 107.49 crores in Q2FY09 compared to the same period last year. The fall was largely due to increase in interest costs (up by 97.28%, due to the debt taken for capex). However, tax rate was lower to 21.10% in Q2FY09 from 30.59% in Q2FY08. This helped the company to to post a positive growth. We recommend a BUY on the stock with a 6 months target price of Rs 900 at 8x FY10E earnings, giving it an upside potential of 78%," says SKP Securities' research report.