Stock views on Jyoti Structures, Texmaco, JP Associates

Hem Securities on Jyoti Structures - Target Rs 200

Hem Securities has recommended a buy rating on Jyoti Structures with a target price of Rs 200 in its research report.

"The company has registered decent set of numbers for the quarter ended June 2009. Net sales stood at Rs.4,847.32, million up by around 21% from the corresponding quarter last year. Since the stock offers good investment opportunity, we initiate a ‘BUY’ signal on the stock with a target price of Rs 200," says Hem's research report.


Asit C. Mehta on Texmaco - Target Rs 124

Asit C. Mehta has recommended a buy rating on Texmaco with a target price of Rs 124 in its research report.

"The announcement of a 61% increase in procurement in the Railway Budget for FY10 points to increasing focus on easing infrastructure bottlenecks for the industry. We initiate coverage on Texmaco with a 'BUY' recommendation and a price target of Rs 124 at a target P/E of 14x FY11E. We have not factored in any value from its Delhi land as it has been under litigation for the last many years without result," says Asit C. Mehta's research report.


IIFL on JP Associates -Target Rs 250

IIFL has recommended a buy rating on Jaiprakash Associates with a target price of Rs 250 in its research report.

"Jaiprakash Associates is well set to be among the top five players in power, cement and real estate in India. Doubling of cement capacity in three years, launch of 13m sq ft residential projects in two years and expeditious award of thermal power projects to established E&C players lend credibility to the group’s ambitious expansion plans. Treasury stocks in the parent company and consolidation of all power assets under the listed subsidiary (Jaiprakash Hydropower Limited, or JHPL) provide funding flexibility. More than doubling of cement volumes over FY09-11 and peak construction at captive projects, we estimate, should yield 44% earnings CAGR over FY09-11, similar to growth rates achieved over FY05-09. We initiate with 'BUY' and an SOTP-based target price of Rs 250 per share. At our target price, the standalone entity would be valued at P/E of 8.4x FY10ii and 6.4x FY11ii," says IIFL's research report.