Stock views on Hero Honda, Axis Bank, ONGC

Reliance Money on Hero Honda - Target of Rs 900

Reliance Money has recommended a buy rating on Hero Honda Motors with a target price of Rs 900 in its research report. "Hero Honda Motors Ltd has posted a flattish growth in its sales volumes for the month of November 2008. The company reported a growth of 0.5% y-o-y to 289,426 vehicles as against 288,027. We recommend a BUY with a target price of Rs 900," says Reliance Money's research report.

Karvy on Axis Bank - Target of Rs 1000

Karvy Stock Broking has maintained its buy rating on Axis Bank with a target price of Rs 1000 in its research report. "In Q3FY09, we expect the bank would report 27.8% (Y-o-Y) growth in net interest income (NII) to Rs 9.6 billion mainly due to strong growth of 48.8% (Y-o-Y) in credit offtake; we assume around 53% (Y-o-Y) growth in deposits. At current price, the stock quotes at 1.93x FY2010 adjusted book value; we determine the bank's intrinsic worth at Rs 1,000 at 3.3x ABV FY2010; we reiterate the stock as a BUY with a price target of Rs 1,000," says Karvy's research report.

Karvy on ONGC - Target of Rs 1500

Karvy Stock Broking has maintained its buy rating on Oil and Natural Gas Corporation (ONGC) with a target price of Rs 1500 in its research report. "Despite the steep fall in in crude oil prices, ONGC's Q3FY09 results are expected to be much better on YoY basis due to the sharp fall in subsidy under recovery burden and the depreciation of rupee against dollar. Net realization, in rupee terms, is likely to be Rs 2,138 per barrel as against Rs 2,152 YoY. We maintain our BUY UY rating on the stock with target price of Rs 1,500," says Karvy's research report.