Stock vies on Power Finance Corporation, Kotak Mahindra Bank, Axis Bank

Firstcall Research on Axis Bank - Target Rs 1346

 

Firstcall Research has come out with a research report on Axis Bank. The broking firm has recommend buy in this scrip with a target price of Rs 1346 for medium to long term investment.

The report says, "Axis Bank is one of the first private sector banks in the country and provides a complete suit of corporate and retail banking products."

"At the market price of Rs 1170, the stock trades at 19.39x and 16.49x for the earnings of FY10E and FY11E respectively. Earning per share (EPS) of the bank for the earnings of FY10E and FY11E is seen at Rs.60.33 and Rs.70.97 respectively for equity share of Rs.10.00 each. Axis Bank approved the allotment of senior notes aggregating USD 350 million under the Medium Term Note (MTN) programme through its DIFC Dubai branch. We recommend buy in this particular scrip with a target price of Rs 1346 for medium to long term investment," according to report.

India Infoline  on Kotak Mahindra Bank - Target Rs 810

India Infoline is bullish on Kotak Mahindra Bank and has recommended buy rating on the stock with a target of Rs 810.

"On Tuesday, Kotak Bank advanced by over 2% suggesting continuation of an intermediate uptrend. Moreover, the swift movement in the stock over the last few trading sessions is backed by high volumes. The stock is hovering around its 100-day DMA. The daily RSI is already in strong buy mode. A move past Rs 784 could take the stock towards the levels of Rs 810-815 in the short-term. Keeping in mind the above-mentioned evidences, we recommend high traders to buy the stock between the range of Rs 778-784 with a stop loss of Rs 768 for an initial target of Rs 810."

India Infoline on Power Finance - Target Rs 287

 

India Infoline is bullish on Power Finance Corporation and has recommended buy rating on the stock with a target of Rs 287.

"On Tuesday, Power Finance Corporation surged sharply on impressive volumes above its critical resistance levels of Rs 269. It now faces a resistance at Rs 285-288 levels and should have a minimum upside till that level. Our argument is further validated after the stock gave an upside breakout on Tuesday's session as the price broke through the top of a trading range. Moreover, the stock has given a close above its short-term moving averages. We recommend traders with high risk appetite to buy the stock in the range of Rs 270-274 with a strict stop loss of Rs 264 for an initial target of Rs 287," says India Infoline research report.