Stock views on Dabur India, BEML, Lloyd Electric

KRChoksey on BEML - Target Rs 426

KRChoksey Research has maintained its buy rating on BEML with a target price of Rs 426 in its research report. "Net Sales of the company increased marginally by 1.7% (YoY) to Rs 632.9 crore due to slowdown in economy. On back of diversified business model, rich cash reserves (Rs 125.1 per share), healthy order book, railway business initiatives, we maintain our BUY rating on the stock, target of Rs 426," says KRChoksey's research report

IIFL on Dabur India - Target Rs 111

IIFL has upgraded its rating on Dabur India to buy with a target price of Rs 111 in its research report. "Dabur’s steady volume growth in recent quarters is particularly important in an environment of increasingly constrained pricing power. Dabur took minimal price hikes in 2008 (4-5%) and is not encumbered by categories with stagnant/declining volumes. As such, there is no pressure to take price cuts. The company’s domestic volumes have grown 8-11% YoY in each of the last eight quarters. Issues in underperforming businesses such as hair-oil and toothpastes have been addressed, and the effects are already visible in hair oils."

"An expanding international business footprint and the integration of Fem Care from the next fiscal will lend further support to Dabur’s growth momentum. With softening input prices and a pull-back in retail rollout plans, margins will get a respite even as ad spends may be marginally scaled up. Dabur has underperformed its HPC peers by 35% over the last one year on concerns that we see abating. We upgrade the stock to BUY from REDUCE with a target price of Rs 111 based on one-year forward earnings," says IIFL's research report

Angel Broking on Lloyd Electric - Target Rs 40

Angel Broking has recommended a buy rating on Lloyd Electric, with price target of Rs 40, in its report. "Lloyd Electric (Lloyd) reported 35.6% yoy decline in Top-line to Rs 102.2 cr (Rs 158.7 cr) in 3QFY2009 primarily due to lower Sales volume owing to sluggish demand for white goods. For 3QFY2009 Net Profits declined by a substantial 85.3% to Rs 2.1 cr (Rs 14.4 cr) primarily due to fall in Top-line and pressure on OPMs. The company enjoys excellent positioning in the Indian AC market and we believe that the stock has limited down side from current levels. We maintain a Buy on the stock, with a revised Target Price of Rs 40 (Rs 61)," says Angel Broking's report.