Bharat Electronics - Target of Rs 770
KRChoksey Research has recommended a buy Bharat Electronics with a target price of Rs 770 in its November 26, 2008 research report. "The revenue of Bharat Electronics increased by 10% (YoY) to Rs 787.72 crore (including other operative income of Rs 7.02 crore) for quarter ended September 2008. On back of rich cash reserves (Rs 307 per share), capacity expansion plans and diversified product portfolio, we give a BUY rating on the stock with target price of Rs 770," says KRChoksey's research report.
NALCO - Target of Rs 225
KRChoksey Research has recommended a buy rating on National Aluminium Company (NALCO) with a target price of Rs 225 in its November 26, 2008 research report. "Going forward, we believe the company is expected to perform better as commodities prices recover. The company is debt free company. It one of the Navratna company and has strong backward integration. Due to strong fundamentals of the company we give a buy with a target price of Rs 225," says KRChoksey's research report.
Hindustan Zinc - Target of Rs 504
KRChoksey Research has recommended a buy rating on Hindustan Zinc with a target price of Rs 504 in its November 26, 2008 research report. "Going forward, we believe the company is expected to perform better as commodities prices recover. HZL is the lowest cost producer of zinc in the world. It is sitting on huge cash and is a debt free company. It is slated to become the largest producer of zinc. Due to strong fundamentals of the company we give a buy with a target price of Rs 504," says KRChoksey's research report.
Mansukh Securities on Ashok Leyland - Target of Rs 25
Mansukh Securities and Finance has maintained its buy rating on Ashok Leyland with a target of Rs 25 in its research report. "Commercial vehicles sales have shown a downward trend in recent past. Moreover, in days to come, Ashok Leyland seems to have a tough stance to match its volumes in the segment."
"The company has recently increased its capacity and has similar plans for future, keeping this in view, the company is expected to carry excess capacity till the time the volumes are not increased. Also the demand for CV is expected to be dependent on factors such as growth in GDP and IIP, trends in interest rates, and availability of bank credit. Considering, the above factors we maintain our BUY rating on the stock by lowering our price target to Rs 25. Higher dividend yield should provide downside protection from current levels," says Mansukh Securities and Finance's research report.
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