Stock Ves on Voltamp Transformers, Infosys Technologies , Wipro

Angel on Wipro - Target Rs 487

Angel Broking has upgraded its rating on Wipro to accumulate with a target price of Rs 487 in its research report.

"For 1QFY2010, Wipro recorded a 1.7% qoq decline in top-line. Combined IT Service Revenues clocked a 2.2% qoq decline. On the other hand, in US Dollar terms, IT Service Revenues dipped 1.3% qoq (USD 1,032.6 million v/s USD 1,046 million in 4QFY2009). Valuations are not too demanding and given an expected recovery in the global economic environment in 2HFY2010 and particularly FY2011, we believe that the Indian IT Sector will benefit significantly from such an economic up-turn. Wipro, being a top-tier Indian IT company is expected to be a key beneficiary. Thus, we upgrade the stock to 'Accumulate' with a target price of Rs 487, assigning a P/E of 16x FY2011E EPS," says Angel's research report.

Hem Securities on Infosys - Target Rs 2350

Hem Securities has recommended a buy rating on Infosys Technologies with a target price of Rs 2350 in its research report.

"Infosys Technologies Ltd has posted great figures for Q1FY10. The revenues of the company have gone up from Rs.48540 million in Q1FY09 to Rs.54720 million in Q1FY10 showing an increase of 12.73%. Presently the company is running at a P/E multiple of 18.33x to its FY09 EPS of Rs.104.69. Based on the robust financial performance reported by the company, we recommend 'BUY' on the stock with a medium term price target of Rs 2350.00," says Hem Securities' research report.

India Capital Markets on Voltamp Transformers - Targets Rs 1015

India Capital Markets has recommended a buy rating on Voltamp Transformers with a target price of Rs 1015 in its research report.

"Voltamp Transformers Limited is among the top 3 players in building application transformers in the organised market and commands 20% market share in the industrial application transformers, with large installation base of more than 37000 transformers. We expect volumes to grow at a CAGR of 14.5% over FY09-11 and expect revenues to grow at a CAGR of 8.5% over the same period. Despite likely moderation in its FY10 earnings, any revival in order inflow in the current financial year on account of amplified focus on infrastructure development from the newly formed government will provide earnings upside in FY11. At the current market price, the stock trades at 8.05x its FY 10E earnings of Rs 94.60 and 6.75x its FY 11E earnings of Rs 112.84. We recommend 'BUY' with a target price of Rs 1015 based on the P/E Multiple method (9x its FY11E earnings), i.e. a potential upside of 33% from its current levels. We believe the company offers decent opportunity to play on the India T&D sector story," India Capital Markets' research report.