Stock views on HDFC, Allied Digital, Torrent Cables

Firstcall Research on Torrent Cables - Target Rs 132

Firstcall Research has recommended to buy Torrent Cables with a target price of Rs 132 in its report.

"Torrent Cables reported a substantial rise in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 46.04% to Rs 41.65 million from Rs 28.52 million in the same quarter previous year. It engages in the manufacture and sale of power cables in India. The company's products comprise EHV, HT-XLPE, LT-XLPE/PVC power cables, and control cables. At the current market price of Rs.115.00, the stock is trading at 7.49 x FY10E and 6.84 x FY11E respectively. Price to Book Value of the stock is expected to be at 0.72 x and 0.65 x respectively for FY10E and FY11E. Earning per share (EPS) of the company for the earnings for FY10E and FY11E is seen at Rs.15.35 and Rs.16.81 respectively. We expect that the company will keep its growth story in the coming quarters also. We recommend 'BUY' in this particular scrip with a target price of Rs 132 for medium to long term investment, "says Firstcall Research report.

Firstcall Research on Allied Digital - Target Rs 260

 

Firstcall Research has recommended to buy Allied Digital Services with a target price of Rs 260 in its report.

"Allied Digital Services reported a substantial rise in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 43.66% to Rs 267.50 million from Rs 186.20 million in the same quarter previous year. Net sales for the quarter for the quarter rose 27.30% to Rs 1,224.20 million, while total income for the quarter rose 28.38% to Rs 1,239.90 million, when compared with the prior year period. At the market price of Rs 220.30, the stock trades at 10.08x and 8.83x for FY10E and FY11E respectively. The topline and bottomline of the company are expected to grow at a CAGR of 22% and 39% respectively over FY08 to FY11E. We recommend a "BUY" in this stock with a target price of Rs 260 for medium to long term," says Firstcall research report.

IndiaInfoline on HDFC - Target Rs 2570

 

IndiaInfoline is bullish on HDFC and has recommended buy rating on the stock with a target of Rs 2570, in its research report.

"HDFC has been on an upswing for the past week and is pointing towards further upside as the stock has managed to crossover its 200 Day Moving Average (DMA). This move was accompanied by smart surge in volumes. The argument further gets confirmation as the stock has broken the short term downward trend line. The stock has corrected from the high of Rs 2845 in December 2009 to touch a low of Rs 2,300 forming a downward sloping channel. This bullish close above its long term moving average and the end of the short term downtrend signals a healthy upside. Momentum oscillators also indicate that the stock has formed an intermediate bottom. We recommend traders to buy the stock between the range of Rs2 505-2520 with SL of Rs 2490 for a target of Rs 2570," says IndiaInfoline research report.