Stock views on Transformers & Rectifiers, State Bank of India, Voltas

India Capital Markets on Transformers & Rectifiers - Target Rs 160


India Capital Markets has recommended a buy rating on Transformers and Rectifiers (India) with a target price of Rs 160 in its research report. "TRIL’s revenues from furnace transformers have risen from Rs 205 million during fiscal 2005 to Rs 450 million during fiscal 2008. The Company has registered a top line growth of 41.65% y-o-y. The Company has also been able to achieve a growth of 26.25% at the net profit level. With the metal prices coming down we expect the net profit margin to stabilize around 9%-10% in the coming years. We recommend BUY with a target price of Rs 160 based on a P/E multiple of 4x its FY 10 earnings. We believe the company offers decent opportunity to play on the India T&D sector story," says India Capital Markets' research report.


Sharekhan on State Bank of India - Target Rs 1516

Sharekhan has maintained its buy rating on State Bank of India, SBI with a price target of Rs 1,516 in its research report. "During the year-to-date period in FY2009, the SBI has witnessed a strong 40%+ growth in its core fee income. This could be attributed to the strong credit growth coupled with better product offering to its clients due to technological advancement. SBI is confident of maintaining this high growth momentum in its core fee income in the quarters to come. The bank has restructured around Rs 2,000 crore worth of loans during the current year till date period. We maintain our Buy recommendation on the stock with a price target of Rs 1,516," says Sharekhan's research report.


PINC Research on Voltas - Target Rs 55

PINC Research has recommended a buy rating on Voltas with a price target of Rs 55 in its research report. "Voltas Ltd has a high cash generating business model. Cash from operation has been positive in the last three years. Cash & Bank balances and current investments were Rs 3 billion & Rs 2.3 billion respectively at the end of FY08. Robust order book for MEP/HVAC segment with significant presence in Middle East market coupled with diversified business model, Voltas has the potential to post revenues at a CAGR of 21% for the next two years. Hence, we recommend a ‘BUY’ with a price target of Rs 55 on a 12 month investment perspective," says PINC's research report.