Stock views on Hexaware Technologies, Bombay Dyeing, IVRCL Infrastructure

India Infoline on IVRCL Infra - Target Rs 190

 

India Infoline is bullish on IVRCL Infrastructure and has recommneded buy rating on the stock with a target of Rs 190, in its research report.

"IVRCL Infrastructure ended up by 3% on Friday, closing above its 200-day DMA. The important thing now would be for the stock to maintain this level for at least next few sessions. If that stays, IVRCL Infra could go up to Rs 190 and above in the near to medium term. Recently the stock has struggled to close above its 200-day DMA. The event has occurred after the price bounced up off a key support level last week. Moreover, cluster of moving averages are placed around Rs 176-178 suggesting bullish congestion. Move past Rs 179 is likely to trigger an upside in the near term. The daily RSI has also given a positive divergence, indicating that price would start moving up. Keeping in mind the above-mentioned observations, we suggest traders to buy the stock in the range of Rs 175-179 with a stop loss placed at Rs 170 for an initial target of Rs 190."

 

 

India Infoline on Bombay Dyeing - Target Rs 620

 

India Infoline is bullish on Bombay Dyeing and has recommended buy rating on the stock with a target of Rs 620, in its research report.

"Bombay Dyeing and Manufacturing has rallied smartly from a low of Rs 416 in early-January 2010 to the present levels. The stock is moving alongwith the support of its 50-day DMA. 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. A sustained move past the Rs 595 levels will see the stock heading towards the levels of Rs 620-625 in the medium term. We recommend high risk traders to buy the stock between Rs 587-593 levels for a target of Rs 620 with a stop loss of Rs 578," says India Infoline research report.

SKP Securities on Hexaware - Target Rs 98

 

SKP Securities is bullish on Hexaware Technologies and has recommended buy rating on the stock with a target of Rs 98, in its research report.

"Hexaware is a leading global provider of IT and BPO services, focused on delivering real business results from technology solutions and specializing in Business Intelligence, Business Analytics, Enterprise Applications, HR-IT and Legacy Modernization. Founded in 1990, Hexaware today maintains seven state-of-the-art development centers - four in India and one each in Germany, USA and Mexico, and offices in North America, Europe and Asia Pacific, and employs around 5200 workers in 11 countries serving 159 clients globally."

"At current market price of Rs. 67/-, Hexaware is trading at P/E of 9.3x and 6.1x of CY10E and CY11E earnings of Rs. 7.2 and 10.9 respectively. We recommend BUY rating on the stock with a target price of Rs 98/- (46% upside) in 18 months at the P/E of 9x on CY11 earnings of Rs 10.9," says SKP Securities research report.