Stock Views on Jubilant Organosys, Nagarjuna Construction, IOB, Axis Bank

Emkay Global on Jubilant Organosys - Target Rs 224


Emkay Global Financial Services has maintained its buy rating on Jubilant Organosys with a target of Rs 224 in its December 8, 2008 research report. "The stock price of Jubilant has come down by 31% in the last one month and has underperformed both- the Sensex as well as BSE healthcare index. We expect robust growth opportunities in outsourcing to be the key growth driver for the company. Being the largest CRAMS company in India, Jubilant is likely to capture a major share of the global outsourcing opportunity."


Prabhudas Lilladher on Nagarjuna Construction - Target Rs 90


Prabhudas Lilladher has upgraded its rating on Nagarjuna Construction Co from accumulate to buy with a target of Rs 90 in its December 4, 2008 research report. "The stock has also seen steep correction from its yearly highs and a robust order book along with lower interest and commodity rates makes it attractive at current levels. The company is also now expected to limit on road BOTs reducing business risk. We upgrade our rating from Accumulate to BUY, target of Rs 90," says Prabhudas Lilladher's research report.


Karvy Stock Broking on Indian Overseas Bank (IOB) - Target Rs 144


Karvy Stock Broking has maintained its buy rating on Indian Overseas Bank (IOB) with a target price of Rs 144 in its December 8, 2008 research report. "We are revising downward Indian Overseas Bank's earning estimates by 4.2% to Rs 11.7 billion in FY10 due to pressure on margin, reduced other income (mainly due to relatively negligible treasury income) and higher credit cost. Based on our revised estimates, we reduce our IOB's earning estimates by 4.2% Rs 11.7 billion in FY10 and revise downward our target price by 12.4% to Rs 144; we re-iterate our BUY rating with a target price of Rs144. Based on our target price the stock would trade at 1.52x adjusted book value FY10," says Karvy's research report.


ULJK Securities on Axis Bank - Target of Rs 596


ULJK Securities has recommended a buy rating on Axis Bank with a target of Rs 596 in its December 2, 2008 research report. "Axis Bank has been able to sustain a high growth in its loan book since the last five years and the Bank is able to maintain the same growth during H1FY09. The return ratios of the Bank are among one of the highest in the industry. Looking at its exponential growth prospects and the valuation, we believe the stock provides an investment opportunity for a decent return in the medium to long term. At our target price, Axis Bank will trade at a P/BV of 1.9x on the FY09E book value of Rs 277 and a P/BV of 1.6 on the FY10E book value of Rs 319, Buy," says ULJK Securities' research report.