Stock views on Glodyne Technoserve, Axis Bank, United Phosphorous

India Infoline on Glodyne Technoserve - Target of Rs 350

India Infoline has recommended a buy rating on Glodyne Technoserve with a target price of Rs 350 in its research report. "With more than a decade long experience, strong technical expertise and hybrid onsite-remote model, Glodyne is poised to exploit the huge opportunity in the IMS space. Company has annual IMS contracts with majority of its 220 active clients."

"The Tech IMS segment revenues have witnessed robust CQGR of 21% over Q4 FY07-Q2 FY09. The segment’s revenue contribution has increased from 57% in Q1 FY08 to 76% in Q2 FY09. More importantly, with the creation of the remote infrastructure, the remote share in IMS delivery has risen sharply to 19-20% currently. These macro and micro segmental shifts are lending Glodyne a niche character apart from strengthening the overall business model. Buy, target of Rs 350," says India Infoline's research report.

KRChoksey on Axis Bank - Target of Rs 690

KRChoksey Research has recommended a buy rating on Axis Bank with a target price of Rs 690 in its research report. "AXIS Bank results for Q3FY09 have positively surprised the markets on back of higher other income. Q3FY09 net profit margins of the bank improved by 100 bps (q-o-q) to 16.8%. At current price of Rs 485.7 the stock is trading at 1.7x FY09E P/BV. We recommend a “BUY” on the stock with a medium term target price of Rs 690 giving an upside potential of 42% from current level," says KRChoksey's research report.

IIFL on United Phosphorous - Target of Rs 153

IIFL has recommended a buy rating on United Phosphorous with a target price of Rs 153 in its research report. "UPL’s management reiterated the strong demand outlook for agrochemicals across most geographic regions, during our recent meeting with the company. Despite constraints in working capital financing for farmers in some regions, demand for agrochemicals remains relatively unaffected, as it is a relatively small expense for most farmers."

"The company reiterated its focus on investment in in-house product registrations while continuing to scout for potential acquisitions. The Cerexagri acquisition’s restructuring is still going on, and should be fully completed by 2HFY10. We remain bullish on UPL’s earnings growth, driven by strong demand and margin expansion from restructuring of acquisitions. Buy, target of Rs 153," says IIFL's research report.