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SBI Cap puts ‘buy’ on PEL Patel Engineeringcmp: Rs 163 SBI Cap Securities has put a ‘buy’ on construction company Patel Engineering (PEL) as the broking firm believes that the stock is trading below its book value. It says the company has a land bank of 1127 acres in and around tier-1 cities valued at [...]
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Technical Analyst, E Mathew is of the view that Larsen and Toubro is looking good. One can buy it on declines. Jaiprakash Associates has support in the band of Rs 48-50. Mathew told CNBC-TV18, “I would say L&T is looking good. I would attempt a buy on declines on Larsen. As far as a stock [...]
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RESEARCH: CITIGROUP RATING: BUY CMP: RS 250 Great Offshore has announced a combined contract for two of its assets — Malaviya Thirty Three (a heavy lift vessel) and Gal Ross Sea (an anchor handling tug) — for a total of $22 million for one year in the Khafji oilfields of Saudi Aramco. The assets have [...]
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Titan Industries RESEARCH: JM Financial RATING: BUY CMP: RS 932 TITAN benefits from the presence of extremely strong brands in largely unorganised segments. The domestic jewellery market is pegged at Rs 75,000 crore, less than 5% of which is ‘branded’ and Titan controls 65% thereof. With extremely low penetration level, there is huge scope for [...]
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Yes Bank RESEARCH: Deutsche Bank RATING: Hold CMP: RS 61 Deutsche Bank believes that Yes Bank’s recent severe underperformance relative to the market and the banking index has factored in most of the concerns about its asset quality, margins and fee income growth and has upgraded the stock to ‘hold’0. However, it has reduced the [...]
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Colgate Palmolive RESEARCH: HSBC RATING: Overweight CMP: RS 385 HSBC has initiated an ‘overweight’ rating on Colgate-Palmolive with a potential return of 25.8%. The oral care category in India has a penetration rate of 78% and a per-capita usage of toothpaste, which is half that of China. Increased usage and penetration, along with a shift [...]
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Target price: Rs 56 Citigroup has maintained its ‘hold’ rating on Idea Cellular while cutting its price target to Rs 56 from Rs 70 in line with an earnings down-grade for financial years 2009-11 by 1-3%. “Relatively weaker balance sheet compared to its larger peers reduces the funding flexibility in a tougher macro environment, thus [...]
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Target price: Rs 170 ICICI Securities has initiated coverage on Indiabulls Real Estate with a ‘buy’ rating, with a price target of Rs 170 on grounds the company is well capitalised to ride the current downturn in the realty sector. “IBREL has sold stake in its company and in properties to raise Rs 5,300 crore [...]
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Target price: 57 Kotak Securities’ private client research has maintained its ‘accumulate’ rating on Voltas while trimming the price target to Rs 57 from Rs 70. “We are downgrading our earnings and target price for Voltas in view of deteriorating fundamentals in its major user industries,” the retail broking firm said, referring to slowdown in [...]
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Target price: Rs 16 Karvy Stockbroking has maintained an ‘outperformer’ rating on SpiceJet, with a price target of Rs 16 in the wake of a fall in aviation fuel prices. “Lower ATF prices would lead to fall in airfares and that in turn would stimulate air travel. ATF prices are down by almost 40% from [...]
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