Angel Broking views on Sadbhav Engineering, Bartronics, Oriental Bank

Angel Broking on Bartronics - Target Rs 99

Angel Broking has maintained its buy rating on Bartronics India with a target of Rs 99 in its research report. "Bartronics India (BIL) reported an impressive 95.5% yoy growth in its 3QFY2009 Top-line. During 3QFY2009, BIL reported a 665bp yoy expansion in EBITDA Margins. Going ahead, we expect BIL to record a CAGR of 62.5% in Top-line and 32% in Bottom-line over FY2008-10E. We maintain a Buy on the stock, with a revised Target Price of Rs 99 (Rs 178), implying a P/E of 4x FY2010E adjusted EPS (6x earlier)," says Angel Broking's research report

Angel Broking on Oriental Bank - Target Rs 197

Angel Broking has maintained its buy rating on Oriental Bank of Commerce with a target of Rs 197 in its research report. "Deposits increased to Rs 91,374 cr (a yoy growth of 22.8%) while Advances increased to Rs 65,617 cr (a yoy growth of 26%). Net Interest Income (NII) growth was also robust at 41% yoy for the second successive quarter following several quarters of underperformance on this count. For 2QFY2009, OBC delivered Net Profit growth of 26% yoy to Rs 252 cr. We maintain a Buy on the stock, with a Target Price of Rs 197," says Angel Broking's research report.

Angel Broking on Sadbhav Engineering - Target Rs 559

Angel Broking has maintained its buy rating on Sadbhav Engineering with a price target of Rs 559 in its research report. "Sadbhav Engineering (SEL) reported topline growth, which was much below our expectations. The company registered 20% yoy growth in net sales to Rs 276.7 cr (Rs 230.1 cr) as against our expectation of Rs 341 cr. We value SEL at 6x FY2010E standalone Earnings assigning Rs 271/share. We value SEL’s BOT portfolio at Rs 378 cr (Rs 420 cr earlier) contributing Rs 288/share excluding the NSEL Annuity project, which has not been factored in our valuation due to the increased cost of financing. Our conservative revised SOTP target price works out to Rs 559 (Rs 718). We maintain a buy on the stock," says Angel Broking's research report.