Stock views on KEC International, Wipro, Infosys

Angel Broking on KEC International - Target Rs 477

Angel Broking has recommended a buy rating on KEC International with a price target of Rs 477 in its research report.

"KEC International (KEC) is a global player in the Power Transmission and Distribution (T&D) network. KEC, which recently enjoyed a good inflow of domestic orders primarily from Power Grid Corporation (PGCIL), is well poised to bag more orders from the domestic markets. Further, KEC derives close to 63% of its revenue from its overseas operations and is expected to clock good growth in this space as well. Thus, KEC is set on a high growth path on the back of healthy order book position, stable Margins (registered in spite of a volatile commodity and currency markets) and diversification into the Railways and Telecom Segments, where the government is set make substantial investments. At Rs 373, the stock is trading at 10.2x FY2010E and 7.8x FY2011E Earnings. We initiate coverage on the stock with a buy recommendation and target price of Rs 477,” says Angel Broking's research report.

PINC Research on Wipro - Target Rs 420

PINC Research has recommended a buy rating on Wipro, with price target of Rs 420, in its report.

"We upgrade our estimates on Wipro from HOLD to BUY recommendation with a target price of Rs 420, an upside of 11%. The stability in pricing in these challenging environment has helped the company to gain a competitive edge over its peers. They are also eyeing the emerging markets for the much needed volume growth. The management believes that the number of ramp downs in projects have seen a significant decline which are positive signs for posting a single digit growth in FY10," says PINC's research report.

PINC Research Infosys - Target Rs 1950

PINC Research has upgraded its rating on Infosys Technologies from sell to buy, with price target of Rs 1950, in its report.

"We upgrade our rating on Infosys from 'SELL' to 'BUY' with a target price of Rs 1,950, an upside of 12%. We believe that the worst is over for USA, which accounts for 60% of the revenues for the major Indian IT vendors. The signs of recovery will help Infosys to post muted single digit growth in terms of revenues. The management also believes that things are improving from their clients’ end which will provide them the much needed volume growth," says PINC's research report.