Stock Views on CEAT, JK Tyre, Sunil Hitech Engineers, Blue Dart, Unichem Labs

Angel on Ceat - Target of Rs 43


Angel Broking has recommended a buy rating on Ceat with a target price of Rs 43 in its November 21, 2008 research report. "The current global economic situation also hampers the possibility of large scale exports, though the global price is higher by Rs 22 per kg (Bangkok — Rs 87) than the price in the Indian market. But, there is no hurry in the industry, especially the tyre manufacturers, to stock rubber heavily. The Tyre industry strongly believes that the price would further decline and Rs 50 seems to be within reach. We recommend a Buy on CEAT with target price of Rs 43," says Angel's research report.


Angel on JK Tyre - Target Rs 57


Angel Broking has recommended a buy rating on JK Tyre and Industries with a target of Rs 57 in its November 21, 2008 research report. "The current global economic situation also hampers the possibility of large scale exports, though the global price is higher by Rs 22 per kg (Bangkok — Rs 87) than the price in the Indian market. But, there is no hurry in the industry, especially the tyre manufacturers, to stock rubber heavily. The Tyre industry strongly believes that the price would further decline and Rs 50 seems to be within reach. We recommend a Buy on JK Tyre with target price of Rs 57," says Angel's research report.


Karvy on Unichem Labs - Target of Rs 270


Karvy Stock Broking has maintained its buy rating on Unichem Laboratories with a target price of Rs 270 in its November 21, 2008 research report. "We have decreased our formulations exports by 9 % to Rs 900 million for FY09 while we have maintained domestic API revenues of Rs 200 million for FY 09 and FY 10 respectively. We have also marginally decreased our R & D expenses for FY 2009 while we increase our personnel expenses for FY 2010 in lieu of higher increment in next year. In FY 2009 the company's personnel cost are not anticipated to increase much as the company's performance was subdued in FY 2008. We have marginally increased our EPS estimates for FY 2009 by 0.8% to Rs 26.3 and have reduced our EPS for FY 2010 by 3.6 % to Rs 34.8. We maintain BUY rating on the stock with a price target of Rs 270 based on 7.75x (FY 2010E EPS Rs 34.8)," says Karvy's research report.


KRChoksey on Blue Dart - Target of Rs 520


KRChoksey Research has recommended a buy rating on Blue Dart Express with a target price of Rs 520 in its November 19, 2008 research report. "Net sales increased 27.8% y-o-y and 8.6% q-o-q to Rs 265.8 crore driven by increase in the average pricing (15-20% in air cargo charges and 10-15% in the ground network service charges). We recommend a BUY on this stock with target price of Rs 520, which represents an upside potential of 21.8%," says KRChoksey's research report.


KRChoksey on Sunil Hitech Engineers - Target of Rs 127


KRChoksey Research has recommended a buy rating on Sunil Hitech Engineers with a target price of Rs 127 in its November 18, 2008 research report. "Net sales surged by 88.7% (YoY) to Rs 131.1 crore in Q2FY09 as against Rs 69.5 crore in Q2FY08. On back of large scale investment in Power sector, integration of company’s business, core competence of management, strong order book and client base, we recommend a BUY on the stock with the target price of Rs 127," says KRChoksey's research report.