Stock Views on Infosys, Syndicate Bank, HCC

Motilal Oswal on HCC - Target of Rs 60

Motilal Oswal has maintained its buy rating on Hindustan Construction Company (HCC) with a target of Rs 60 in its November 12, 2008 research report. "We expect HCC to report net profit of Rs 844 million in FY09 (a downgrade of 21%) and Rs 1.1 billion in FY10 (a downgrade of 37%), largely driven by slower execution and increased interest costs. This translates to an EPS of Rs 3.3/sh in FY09 (up 19% YoY) and Rs 4.4/sh in FY10 (up 34% YoY)."

"Based on SOTP valuation, we arrive at a price target of Rs 60/sh comprising: core business at Rs 35/sh (8x FY10E), Lavasa at Rs 20/sh (50% discount to NAV), Vikhroli Corporate Park Rs 5/sh (25% discount to NAV). HCC is trading at reported PER of 15.2x FY09E and 11.3x FY10E. Maintain Buy," says Motilal Oswal's research report.

Karvy on Syndicate Bank - Target of Rs 71

Karvy Stock Broking has maintained its buy rating on Syndicate Bank with a target of Rs 71 in its November 17, 2008 research report. "In 2QFY09, Syndicate Bank's net interest income grew by 53% (Y/Y) to Rs 7.5 billion. Overall the bank posted good set of numbers; we re-iterate our BUY rating on the stock with a target price of Rs 71," says Karvy Stock Broking's research report.

Anand Rathi on Satyam - Target of Rs 340

Anand Rathi Securities has recommended a buy rating on Satyam Computer Services with a target of Rs 340 in its November 17, 2008 research report. "We initiate coverage on Satyam with a Buy and a target price of Rs 340. We like Satyam because of its low exposure to BFSI (second to Tech Mahindra among peers), low top-client dependency and robust cash flow, says Anand Rathi's research report.