Stock Views on Essel Propack, Apar Industries, Yes Bank

IndiaInfoline on Yes Bank - Target Rs 290

IndiaInfoline is bullish on Yes Bank and has recommended buy rating on the stock with a target of Rs 290, in its January 06, 2010.

"Yes Bank has seen a spurt in volumes in yesterday’s trading session. It is currently trading around its 52-week high. Last week, the stock attempted a breakout from its critical resistance zone of Rs 274-275 and since then it is consolidating above its 10-DMA. A successful move above Rs274 will open the possibility of an upside up to Rs290 and higher. We recommend a buy with a short-term target of Rs 290 and stop loss at Rs 264."

SKP Securities on Apar Industries - Target Rs 277

SKP Securities is bullish on Apar Industries and has recommended buy rating on the stock with a target of Rs 277, in its research report.

"Apar Industries Ltd (Apar) is a leading conductors and speciality oil manufacturing company established in 1958. It is the second largest manufacturer of aluminium conductors and largest manufacturer of transformer oil in India with the market share of 23% and 50% respectively. Apar have its state-of-the-art establishments at Silvassa, Nalagarh and Rabale. The company derives 75% of its revenues from power sector."

"At the current market price of Rs 175, the stock is trading at a P/E of 8x, 5x and 4x of FY10E, FY11E and FY12E earnings of Rs 21.1, Rs 32.2 and Rs 39.6 respectively. We recommend BUY rating on the stock with a target price of Rs 277/- (58% upside) in 18 months implying a P/E multiple of 7x of FY12E earnings."


Emkay Global Financial Services on Essel Propack - Target Rs 76

Emkay Global Financial Services has recommended buy rating on Essel Propack with a target of Rs 76, in its research report.

“We recommend a BUY on Essel Propack (EPL) with price target of Rs76/Share entailing an upside of 73.5%. Our optimism emanates from our belief that EPL is all set to leave behind the tumultuous CY06-08 period and turn profitable in CY09E and thereafter scaling new highs in CY11E. We expect EPL to deliver earnings CAGR of 132.4% in CY09-11E period driven by strong surge in volumes, value and profitability. Alongside, strong earnings performance - we expect the valuations to retrace to CY06 levels - average 1-year forward PER of 13.3x during CY06. EPL's current valuations of PER of 10.1X CY10E earnings, thus presents a lucrative value proposition.”

“We are enthused by EPL's region specific strategy in tubes business - taking measures to address the issues and capitalize the opportunities specific to each regional segment.

Consequently, we expect tubes revenue to grow at 10.9% CAGR and total revenues to grow at 10.2% CAGR in CY09-11E period. Similarly, region specific cost rationalization exercise is likely to result in 570 bps jump in EBIDTA margins to 22.0% in CY11E, driving 27.9% CAGR in EBIDTA over CY09-11E period. The above twin factors is expected to help EPL return to black with net profit of Rs1,049 mn in CY11E (surpassing CY06 peak profitability) - against a net loss of Rs 883 mn in CY08.”