Stock views on Colgate Palmolive India, Infotech Enterprises

Angel Securities on Infotech Enterprises - Target Rs 408

 

Angel Securities has come out with a research report on Infotech Enterprises. The research firm has recommended a buy on the stock, with a target price of Rs 408.

The report says, "For 3QFY2010, Infotech Enterprises (IEL) reported 7.3% qoq spurt in net profit despite the mere 0.7% qoq growth in Top-line, while EBIDTA Margins remained flat. The company's operations during the quarter were impacted by unfavourable cross-currencies' movement. However, Bottom-line spurted on strong forex gains. Following resurrection in the IT demand environment backed by the Global recovery, we expect Infotech to benefit from the opportunities in its niche segments of operation. At current levels, the stock is trading at attractive valuations owing to which we recommend a buy on the stock, with a target price of Rs 408, implying a P/E of 12x FY2012E EPS."

Anand Rathi Securities on Colgate - Target Rs 838

 

Anand Rathi Securities has come out with a research report on Colgate Palmolive India. The research firm has retained buy rating on the stock with a target price of Rs 838.

The report says, "The market's fear that the merger (Colgate is merging its subsidiary, Professional Oral Care Products, with itself) with its subsidiary would raise royalty costs is unwarranted, in our view. We estimate that the royalty costs would be cancelled out by the technical fees it need not pay now. We retain our buy rating on Colgate with a target price of Rs 838 at a target PE of 25x FY11e earnings."