Stock Views on VST Tillers, Bartronics India

Sunidhi Securities on VST Tillers - Target of Rs 135
Sunidhi Securities & Finance has recommended a buy rating on VST Tillers Tractors with a target of Rs 135 in its November 21, 2008 research report. "During Q2FY09 OP & NP margins stood at 16.7 and 10% against 13.7 and 7.2% respectively. During H1FY09 OP margin has moved up from 13.1% to 14.6% and net margin surged from 7% to 8.3%. VSTTL expects to continue its progress in establishing a sizeable market share for power tillers in states such as West Bengal, Karnataka, Orissa and Andhra Pradesh during the coming years. This apart, the prospects of exporting power tillers appear to be bright."

"During FY09, sales are expected to go up by 40% to Rs 260 crore and net profit by 45 per cent to Rs 20.9 crore, which would yield an EPS of Rs 36. We recommend BUY with a target of Rs 135 in the medium term. The 52-Week high and the low of the share has been Rs 259/88," says Sunidhi Securities & Finance's research report.

Nirmal Bang on Bartronics India - Target of Rs 155.5

Nirmal Bang has maintained its buy rating on Bartronics India with a revised target price of Rs 155.5 in its November 6, 2008. "Sales witnessed strong growth of 136.9% y-o-y to Rs 160.7 crore in 2Q 09. At current levels the stock looks undervalued and holds strong potential for upside. We reiterate BUY rating on BIL. However, we are revising our target price to Rs 155.5 to factor in the slowdown of the economy in general and anticipated slowdown in the company’s US business," says Nirmal Bang's research report.