Stock views on AIA Engineering, Havells India, Bank of India

Karvy Stock Broking on Bank of India - Target of Rs 434

 

Karvy Stock Broking is bullish on Bank of India and has recommended buy rating on the stock with a target of Rs 434, in its research report.

"We revise our price target on Bank of India (BoI) from Rs372 (based on FY11 estimates) to Rs434 based on FY12 estimates. Recently, we met BoI's management to get clarity on asset quality and credit growth going forward. During FY10-12, BoI is expected to record 19.8% cumulative growth in net profit with return ratios RoAA in a range of 0.78-0.81% and RoAE in a band of 16.0-17.5%. We determine the bank's fundamental value at Rs434 at 1.57x adjusted book value FY12; we upgrade our rating on the stock to BUY from previous rating of Market Performer with a price target of Rs434 at 1.57x adjusted book value FY2012."

India Infoline on Havells India - Target Rs 625

 

India Infoline is bullish on Havells India and has recommended buy rating on the stock with a target of Rs 625, in its research report.

"Havells India has seen impressive volume expansion in last few trading sessions and appears to have taken support between Rs 565-568 range. It could bounce till somewhere between Rs 620-625 levels in the near term. Our argument is further validated after the stock recovered from the low of Rs 585 in yesterday's session with strong volumes. Any move above Rs 600 could take the stock towards Rs 625 and higher in the short-term. Traders are advised to maintain a stop loss of Rs 584 and go long. Book partial profit around Rs 620 and exit around the levels of Rs 625," says India Infoline research report.

 

 

India Infoline on AIA Engg - Target Rs 427

 

India Infoline is bullish on AIA Engineering and has recommended buy rating on the stock with a target of Rs 427, in its research report.

"The short-term ascending trendline yet again provided strong support to AIA Engineering on Wednesday. It pulled back smartly from day's low to close at days high with impressive volumes. The stock is sitting on an important trendline support just above Rs 390. Recent developments are building up the case that the uptrend from March low of Rs 358 is likely to continue. Daily oscillators continue to remain in a positive set-up. Traders are advised to buy the stock in the range between Rs 397-405 with stop loss of Rs 389 for target of Rs 427," says India Infoline research report.