Stock views on ABB, Bharat Petroleum Corporation, CESC

Angel Securities on CESC - Target Rs 460

 

Angel Securities is bullish on CESC and has recommended buy rating on the stock with a target of Rs 460, in its research report.

"CESC recorded a 2.1% yoy growth in net sales to Rs770cr in 4QFY2010, aided by a 1.7% yoy increase in the sales volume. The growth in the Top-line is expected to be aided by a higher tariff of Rs4.57/unit charged by the company in 4QFY2010 (Rs3.91/unit in 4QFY2009) in the regulated area. During FY2010, the Top-line grew by 8% to Rs 3,351 crore. The company's OPM improved by 409bp yoy to 26% during the quarter, aided by a substantial reduction in other expenses. The net profit rose by 6.4% yoy to Rs 100 crore during the quarter. The stock trades at a P/E of 7.4x and at a P/BV of 1.0x, according to its FY2012E estimates. We maintain our Buy recommendation," says Angel Securities research report.

India Infoline on BPCL - Target Rs 543

 

India Infoline is bullish on Bharat Petroleum Corporation, BPCL has recommended buy rating on the stock with target of Rs 543, in its research report.

"BPCL is pointing to continued strength in the weeks to come as it has broken a downward-sloping trend line. A detailed study of the daily chart shows that the stock has corrected from the high of Rs595 in February 2010 to touch a low of Rs 488 this week. On Friday, the stock staged a smart breakout past the downward sloping trendline. This bullish breakout signals the end of the intermediate downtrend, which is further verified with the buy signal in the RSI."

"In the chart, it is observed that the stock price is trending sideways or lower at the start of the week, shaping lower troughs while the RSI oscillator is forming higher troughs, resulting in positive divergence on Friday. A sustained rally past the levels of Rs 520 could see the stock attempting target of Rs 543. It is advised to maintain a stop loss of Rs 505," says India Infoline research report.

India Infoline on ABB - Target Rs 855

 

India Infoline is bullish on ABB and has recommended buy rating on the stock with a target of Rs 855, in its research report.

Since last few months, ABB has made 100-day DMA to be its most important support level. In March 2009 it made a base around this moving average and then staged an impressive rally of 12% in two weeks (from a base of Rs775 to a high of Rs875). In yesterday's session, the stock stabilized again around its 100-day DMA against the weaker trend in the broader indices, emphasizing our belief that it remains a critical support level. Keeping in mind, the above mentioned evidences, we recommend high risk traders to buy the stock with a stop loss of Rs 800 for a target of Rs 855 and Rs 860,"says India Infoline research report