Stock views on Crompton Greaves, Jindal Steel, Indoco Remedies

Karvy Stock Broking on Indoco Remedies - Target Rs 480

 

Karvy Stock Broking is bullish on Indoco Remedies and has recommended buy rating on the stock with a target of Rs 480, in its research report.

 

"We upgrade our FY11 revenue estimates by 4.9% to Rs 4,743 million on account of better revenue traction in the high margin DF space and uptake in the EF space. We have incorporated FY12 numbers and roll over our target price based on FY12 EPS. Improvement in revenue traction, EBITDA margins and strong earnings growth of 30% plus in FY11E and FY12E coupled with improving return ratios make the stock an attractive investment opportunity. We upgrade our rating on the stock from market performer to BUY with a price target of Rs 480 based on 8x FY12E."

 

India Infoline on Jindal Steel - Target Rs 720

 

India Infoline is bullish on Jindal Steel & Power and has recommended buy rating on the stock with a target of Rs 720, in its research report.

"On the daily chart, Jindal Steel & Power has been moving in a range of Rs 725-690 from the first week of March 2010. On number of occasions, the stock has bounced back from the lower band of this trading range. In fact, daily candlestick chart suggests formation of multiple bottoms around the levels of Rs 690-695. On Tuesday, the stock attempted to breakout past the top of this trading range. We expect the stock to continue its recent uptrend and attempt the levels of Rs 750-755. The daily momentum indicators like RSI and MACD are exhibiting positive divergences. We recommend traders to buy the stock at current levels and on declines up to the levels of Rs 720 with a stop loss of Rs 708 for an initial target of Rs 755,"says India Infoline research report.

 

India Infoline on Crompton Greaves - Target Rs 300

 

India Infoline is bullish on Crompton Greaves and has recommended buy rating on the stock with a target of Rs 268, in its research report.

"Crompton Greaves has rallied smartly from the recent low of Rs224 in to the present levels. On the daily charts, it has formed a pattern of a higher bottom. It is considered as the initial sign of a bottoming out process in the short term. The daily RSI is already in strong buy mode, indicating that the prices are set to rally from the current levels. Any move past the levels of Rs 280, could see the stock attempting the levels of Rs 300 in the short-term. We recommend a buy at current levels with a stop loss of Rs 268," says India Infoline research report.