Reliance Money views on Aban Offshore, Glodyne Techno

Reliance Money on Glodyne Techno - Target Rs 328

Reliance Money has recommended a buy rating on Glodyne Technoserve, with 12-month price target of Rs 328, in its report. " Glodyne Technoserve continues to leap forward with impressive financial performance, we estimate an EPS CAGR of 61% over FY08-10E. We believe as 70% of Glodyne business is centered around India that too 79% from infrastructure management space (non-discretionary spend), which makes Glodyne largely immune from any major cut in the global IT spending. We maintain BUY with a 18 months target price of Rs 328, at our target price stock will be valued at 3x FY10E," says Reliance Money's report.


Reliance Money on Aban Offshore - Target Rs 1050

Reliance Money has recommended a buy rating on Aban Offshore, with 12-month price target of Rs 1050, in its report. "Aban Offshore has come out with disappointing set of numbers in Q3FY09. Net sales for Q3 increased by 40% (YoY) and remained flat sequentially at Rs 8.36 billion. PAT was at 2.5 billion (up 354% (YoY) and down 4% sequentially). Aban Offshore is trading at 3.1x FY09 and 1.3x FY10 earning estimates, which is very cheap. We value Aban at 3x FY10 estimates giving us a target price of Rs 1050. We recommend buy on the stock," says Reliance Money's report