Stock views on IDFC, Elecon Engineering, Financial Technologies

Motilal Oswal on Financial Technologies - Target Rs 1822:

Motilal Oswal has recommended a buy rating on Financial Technologies, with price target of Rs 1822, in its report

"We value Financial Technologies based on the SOTP valuation. We attribute 75% of our target price to technology and exchanges businesses. The other investments are either in the incubation stage (four new exchanges) or currently do not contribute meaningfully to revenue or earnings. We attribute 22% of our valuation to these ventures, and NBHC (warehousing and collateral management) contributing 3% of our target price. It is the single largest contributor among ecosystem ventures. We initiate coverage with a buy and a target price of Rs 1,822, an upside of 23%," says Motilal Oswal report.

SKP Securities on Elecon Engineering - Target Rs 107

 

SKP Securities has maintained buy rating on Elecon Engineering with a price target of Rs 107 in its report.

"Elecon Engineering Company (Elecon) is a leading manufacturer of industrial gears with the market share of 26%, operating in multiple core industries. It is also one of the largest players in material handling equipments (MHE) in India. Majority of its MHE revenues are derived from buoyant power sector. Elecon is also present in wind turbine segment. It has its state of the art facilities at Vallabh Vidyanagar, Gujarat. At the current market price of Rs 75, the stock is trading at a P/E of 13x, 11x and 8x of FY10E  FY11E and FY12E earnings of Rs 5.7, Rs 7.1 and Rs 9.7 respectively. We recommend BUY rating on the stock with a target price of Rs 107/- (43% upside) in 18 months at the P/E of 11x on FY12 earnings of Rs 9.7, "says SKP Securities research report.

IndiaInfoline on IDFC - Target Rs 168

 

IndiaInfoline is bullish on Infrastructure Development Finance Company, IDFC and has recommended buy rating on the stock with a target of Rs 168, in its research report.

 

On the daily chart, IDFC has broken out from an inverted Head & Shoulders formation with the neckline placed at Rs158. We believe consolidation above this level could lead to a strong rally in the counter.  A detailed study of the daily chart suggests that the stock has given a breakout past its one-month resistance line with heavy volumes. The supportive technical oscillators are positive and the upmove which begun last week from the levels of Rs146 has taken support at 200-DMA. We recommend traders to buy the stock between the range of Rs 159-161 for target of Rs168 and Rs170 with a stop loss of Rs 155," says IndiaInfoline research report.