Stock views on Hyderabad Industries, 3i Infotech, Lupin

Prabhudas Lilladher  on Lupin - Target Rs 2010

 

Prabhudas Lilladher is bullish on Lupin and has recommended buy rating on the stock with a target of Rs 2010, in its research report.

"Net sales (excluding other operating income) of Lupin grew by 23.1% - from Rs 10.4 billion to Rs 12.9 billion YoY (we expected Rs12.5bn). Advanced market (US & EU) grew by 17.6% - from Rs5bn to Rs5.8bn YoY (this was much lesser than the expected rate of 31%). Sales from Japan grew by 16.6% - from Rs 1.1 billion to Rs 1.26 billionn YoY (this is higher than the expected rate of 15%). We expect sales and net profit to grow at a CAGR of 19.3% and 26%, respectively over FY10-12. At the CMP, the stock trades at 19.4x FY11E and 14.8x FY12E. We maintain our 'BUY' rating on the stock."

 

Angel Securities  on 3i Infotech - Target Rs 129

 

Angel Securities is bullish on 3i Infotech and has recommended buy rating on the stock with a target of Rs 129, in its research report.

"3i Infotech declared strong 4QFY2010 performance on a consolidated basis registering 5.4% qoq growth in Top-line led by strong growth in the IT Services (9.9% qoq) and IT Products (5% qoq) Segments. The Transaction Services Segment Revenues grew 2.6% qoq to Rs245cr. While Operating Profit grew 3.6% to Rs124cr during the quarter, EBIDTA Margins fell 35bp qoq on lower Fx realisations during the quarter. The company wrote off Rs260cr as it exited the Citizen Service Center (CSC) business in 4QFY2010. Thus, Depreciation was reversed during the quarter and stood at a mere Rs1cr as against Rs22cr in the previous quarter. Profit after Tax adjusted for Extraordinary items grew 3% qoq."

"However, on reported basis, the company booked a Loss of Rs 167 crore. We believe that post the one-time hit (Kiosk business), the company would now focus on its core business going ahead. We maintain a Buy on the stock in view of the future potential of the acquired businesses," says Angel Securities research report.

Fairwealth Securities  on Hyderabad Industries - Target Rs 800

 

Fairwealth Securities is bullish on Hyderabad Industries and has recommended buy rating on the stock with a target of Rs 800, in its research report.

"Hyderabad Industries Q4FY10 results were above our expectations. The topline grew 14% YoY to Rs 703 crore (In line with our expectations) The EBITDA expanded by 71% to Rs 159.03 cr (Above our expectations). The net profit improved by 104% YoY to Rs 89.72 crore (Above our expectations) due to lower interest cost and high operating profit. We remain with our target price of Rs 800 for next 6- 9 months . We rate Hyderabad Industries as BUY with a target price of Rs 800."