BSE Sensex: (14901) we said ‘we may now see some consolidation and what the market really needs now is a move above 15580 for a trend to emerge’ and the market unfolded as expected in a sideways move…the market still looks to be direction less… caution will be the order of the day…
Hem Securities has come out with a research report on Chemcel Biotech’s IPO. It has recommended investors to ignore the issue.
3i Infotech has allotted 11,200 equity shares to the applicants under ESOS, 2000.
ICICI Bank, and leading two-wheeler maker TVS Motor Co, are the two Indian firms selected for the 2008 Symantec visionary awards for the way they secure and manage systems and information.
Punj Lloyd on Tuesday said its wholly owned subsidiary, Punj Lloyd Pte Ltd has bagged a $37.7 million (Rs 1.7 billion) contract from Singapore-based FWP.
Indiabulls Securities Research has maintained its buy rating on Bharat Forge with a target of Rs 320 in its September 5, 2008 research report. “We have valued Bharat Forge by using a three stage Discounted Cash Flow (DCF) model with explicit forecast till 2010, middle period forecast between 2011-15, and terminal period from 2016. Free cash flows for the explicit period were calculated based on projects announced by the Company. For the middle and terminal period, cash flows were estimated assuming a free cash flow growth of 15% and 5%, respectively.”
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The initial public offering of 20 Microns was subscribed 0.22 times on the second day, as per the NSE website.
Sharekhan has kept a buy rating on Mahindra Lifespace Developers with a target of Rs 828.
Indiabulls Securities Research has recommended a buy rating on Mahindra and Mahindra with a target of Rs 680 in its September 5, 2008 research report. “At the current market price, the stock trades at a forward PE of 17.3x FY09E and 15.2x FY10E. Based on the SOTP valuation method, we reiterate our Buy rating for the stock with a revised target price of Rs 680, which suggests a potential upside of 16.8% from the current market price of Rs 581.95,” says Indiabulls Securities’ research report.
Investment Advisor SP Tulsian is of the view that one should prefer Maruti Suzuki to Tata Motors.
Karvy Stock Broking has maintained its buy rating on Puravankara Projects with a target price of Rs 302 in its September 9, 2008 research report. “We believe that, with low leveraged balance sheet and in-house construction activities, Puravankara stands to benefit in the long run. We maintain our price target on Puravankara at Rs 302 per share valuing the company at a 15% discount to our FY10E NPV (Net present Value) of Rs 356 per share maintaining a BUY at current levels,” says Karvy Stock Broking’s research report.