KRChoksey on Indraprastha Gas, ICICI Bank, Dishman Pharma

KRChoksey on ICICI Bank - Target Rs 608

KRChoksey has recommended a buy rating on ICICI Bank with target price of Rs 608, in its research report. "The Bank registered 0.4% y-o-y growth in Q3FY09 in its Net Interest Income of Rs 1,990.5 crore as against Rs 1,982.2 crore in Q3FY08. Interest earned declined by 1.2% y-o-y to Rs 7,836.1 crore, while interest expended decrease by 1.8% y-o-y to Rs 5,845.7 crore. We recommend a BUY on the stock with a 12 month target price of Rs 608, giving an upside potential of 63% from current level," says KRChoksey's research report.


KRChoksey on Dishman Pharma - Target Rs 209

KRChoksey has maintained its buy rating on Dishman Pharmaceuticals & Chemicals with a target price of Rs 209, in its research report. "In Q3FY09, the company’s sales have increased by 36.5% on a Y-o-Y basis to Rs 282.0 crore driven by strong performance from MM segment, US subsidiary Carbogen Amcis and also from the consolidation of Solvay Vitamin business. The net profit of the company increased by 23.5% Y-o-Y to Rs 39.7 crore. We maintained BUY rating to the stock with a target price of Rs 209, implying an upside potential of 78.3%," says KRChoksey's research report.


KRChoksey on Indraprastha Gas - Target Rs 130


KRChoksey has maintained its buy rating on Indraprastha Gas with a target price of Rs 130, in its research report. "Revenue was in-line with our estimate and increased by 20.1% y-o-y and 2.0% q-o-q to Rs 219.4 crore owing to higher CNG & PNG volumes which were increased by impressive 18% y-o-y and 31% y-o-y respectively. Operating margin declined significantly to 31.2% as IGL had provided Rs 17.5 crore towards excess gas drawn from GAIL in Q2FY09 & Q3FY09. We have maintained a BUY on the stock with target price of Rs 130," says KRChoksey's research report.