Sunidhi Securities on Hikal - Target Rs 400
Sunidhi Securities & Finance has recommended a buy rating on Hikal with a target price of Rs 400 in its research report.
"Hikal is committed to creating a world class, customer focused, innovative organisation and becoming partner of choice to the life science industry. In its long association, Hikal is supplying agro chemicals and intermediates to the top four global agro- and fine-chemical players such as Pfizer, Syngenta, Bayer and Degussa. The pharma division is now expecting stupendous growth and is very optimistic about contract research and manufacturing services (CRAMS). Hikal wants to establish itself as among the top companies in the world in the CRAMS business. We recommend 'BUY' with a target price of Rs 400 in the medium term, says Sunidhi Securities & Finance's research report.
Anand Rathi on HCL Tech - Target Rs 375
Anand Rathi Securities has maintained its buy rating on HCL Technologies with a target price of Rs 375 in its research report.
"HCL Tech’s US$-revenue grew 7.6%, margin was up 82bps and profit up 52% sequentially. Pricing strength and IMS growth were surprising. The BPO business turned around from the negative to positive growth zone. We maintain our target multiple of 15x average FY11e earnings of Rs25, thus raising our target price to Rs 375. We maintain our Buy rating. In the past, the stock has traded at a 28% discount to Infosys," says Anand Rathi Securities' research report.
Sharekhan on UltraTech Cement - Target Rs 850
Sharekhan has maintained its buy rating on UltraTech Cement with a target price of Rs 850 in its research report.
"Despite the overall slowdown in the economy the revenue of the company on a stand-alone basis grew by an impressive 16% in FY2009. The strong revenue growth was achieved on the back of capacity addition ahead of peers and a revival in the cement demand in the second half of the fiscal year. We maintain our 'Buy' recommendation on the stock with a price target of Rs 850 (valued at EV/tonne of USD87)," says Sharekhan's research report.
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Dear Friends,
BNP Paribas has recently come out with a “Reduce” rating on Unitech. The report dated 29th September quotes “If seeing is believing, we lack belief! ” the brokerage did a field survey on many of Unitech project sites in NCR,Chennai and Kolkata. To its surprise there has been no construction activity in projects that have been fully sold out and launched in March 2009. The report sets a target price of 50 Rs per share and also cautions an investor that the “ Fully Sold Tag” can come with a mere 5-10% down payments by potential investors. I believe that demand for high-end housing has reduced after the recent global turmoil in non-prime locations. Moreover the only reason for a potential target price of 50 is because of the recent fund raising by the company. I believe the potential price target unless the company had raised funds would had been at higher single digits.!!! Moreover the telecom diworsfication (company has moved funds away from a lucrative 33% operating margin business to a highly commoditized business) will only prove to be a fund sucker at a latter date. Interesting times ahead.
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