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Saturday, September 27, 2008
Vishal Info: Acquisition boost
The stock gained 12.4 per cent from Rs 314.55 to Rs 353.65 in a falling market last week after the company announced that it was considering acquisitions in the UK and Europe. The company has announced a board meeting on October 1 to consider raising funds through external commercial borrowings and global depository receipts (GDRs).
The combined trading volume on the counter almost doubled, with 11 million equity shares changing the hands last week compared with 6 million shares traded in the week earlier. The stock, which got listed in August this year, has appreciated by 136 per cent from its issue price of Rs 150 on BSE.
The company covers almost all segments in IT-enabled services sector other than the voice call centre. Currently, the company’s revenues are generated from projects and services and e-publishing, including data digitisation.
Labels: Vishal Info
Friday, September 19, 2008
Goldman Sacs retains 'buy' on Axis Bank
17 Sep, 2008.
Axis Bank
CMP: Rs 696.55
TARGET PRICE: Rs 1,010
Goldman Sacs has retained its ‘buy’ rating on Axis Bank, expecting the bank’s earnings per share of grow at a compounded annual rate of 33% between FY07 and FY10. The growth, says Goldman Sachs, would be driven by improvement in cost competitiveness, rising contribution from fee income and higher productivity arising from economies of scale.
“We believe Axis’ current valuation does not capture the upside potential from its rapid growth in franchise value. Investors appear to be concerned about the rapid growth witnessed by the bank in the past, and hence, the potential for increase in credit losses impacting the bank’s earnings growth prospects adversely in our view. We believe the bank’s credit portfolio is concentrated in the large corporate segment, which is less vulnerable to rapid deterioration in credit quality. As such, we believe increase in credit costs is unlikely to impair earnings growth expectations materially,” the note said.
Labels: Axis Bank
Wednesday, September 10, 2008
Anand Rathi puts 'buy' on Bharat Electronics
8 Sep, 2008,
Anand Rathi Securities has a 'buy' call on Bharat Electronics around the current price of Rs 974 for target Rs 1,140 and stop loss of Rs 900.
Based on the chart pattern to date, the stock is likely to get support around Rs 930.
Bharat Electronics, after a descent consolidation, exhibits a trend reversal; rise in RSI from over sold zone indicates a medium term buy.
Labels: Bharat Electronics
