Stock Views on Bank Of India, PNB, Orchid Chemicals

KRChoksey on Bank Of India - Target Rs 380

KRChoksey has recommended a buy rating on Bank Of India with a target price of Rs 380 in its research report.

"Bank of India’s operational results were broadly in line with our expectations with headline profit numbers increasing 4% y-o-y to Rs 584.3 crores. Net Interest Income came under pressure as bank remained cautious on increasing advances (yoy advances growth up 23% yoy and 2.1% sequentially). We recommend a 'Buy' on Bank of India with a target of Rs 380," says KRChoksey's research report.


KRChoksey on PNB - Target Rs 780

KRChoksey has maintained its buy rating on Punjab National Bank with a target price of Rs 780 in its research report.

"PNB reported better than expected headline profit at Rs 832 crore (up 62.4% y-o-y) on back of higher trading gains. Net Interest Income held up better compared to peers as the bank was able to withstand margin pressures better. We maintain a 'Buy' on PNB with a target of Rs 780," says KRChoksey's research report.

Angel Broking on Orchid Chemicals - Target Rs 110

Angel Broking has maintained its buy rating on Orchid Chemicals and Pharmaceuticals with a target price of Rs 110 in its research report.

"For 1QFY2010, Orchid’s net sales increased 8% to Rs 305.8 crore (Rs 282.6 crore) driven by launch of the high-Margin Tazo-Pip in Europe. At current levels, the stock is trading at 6.1x FY2011E Adjusted Earnings and 1.3x FY2011E EV/Sales which we believe adequately factors in the concerns on the debt front and delays in getting approval for its high-Margin products. We maintain a 'Buy' on the stock, with a target price of Rs 110," says Angel's research report.