Stock Views on Indraprastha Gas, Sadbhav Engineering, NTPC

KRChoksey on Indraprastha Gas - Target of Rs 130

KRChoksey Research has recommended a buy rating on Indraprastha Gas with a target price of Rs 130 in its November 13, 2008 research report. "IGL reported net sales of Rs 215.2 crore, up 23.6% Y-o-Y, on the back of increase in volume of CNG by 22.7% and PNG by 26.7% to 117.2 million Kg and 13.3 mmscm respectively. We recommended a BUY on the stock with target price of Rs 130, giving an upside potential of 23%. At the target price the stock would be valued at 9.0x and 7.6x its FY09E & FY10E EPS of Rs 14.5 and Rs 17.0 respectively," says KRChoksey's research report.

Angel Broking on Sadbhav Engineering - Target of Rs 718

Angel Broking has maintained its buy rating on Sadbhav Engineering with a target price of Rs 718 in its November 12, 2008 research report. "For 2QFY2009, Sadbhav Engineering (SEL) reported Net Sales numbers, which were below our expectations. The company registered 22% yoy growth in Net Sales to Rs 124.2 crore (Rs 101.8 crore) as against our expectation of 41% growth at Rs 143 crore. We value, SEL at 6x FY2010E standalone Earnings assigning Rs 430 per share. We value SEL’s portfolio of BOT assets at Rs 399 crore (Rs 420 crore earlier), contributing Rs 288 per share excluding NSEL Annuity project, which we believe has no value while factoring in current increased cost of financing and arrive at a conservative SOTP Target Price of Rs 718 (Rs 1,036). We maintain a Buy on the stock," says Angel's research report.

Hem Securities on NTPC - Target of Rs 183

Hem Securities has initiated a buy rating on NTPC with a target price of Rs 183 in its November 15, 2008 research report. "The company has posted decent results for the quarter ended September 2008. The Net sales have surged to Rs 100911 million with a year over year growth of 25.87 per cent. Presently, the stock is trading at Rs 149 which is at 17.65 times to its earnings and 2.18 times to its book value of Rs 68.49. Since the stock seems to offer extremely good investment opportunities, we initiate a ‘BUY’ signal on the stock with a target price of Rs 183 in medium term investment horizon expecting an appreciation of about 22% from the current level of Rs 149," says Hem's research report.