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…
Devangshu Dutta, Consulting Editor, Outlook is bearish on SAIL and Tata Steel
Hemang Jani, Senior Vice-President, Sharekhan, said capital goods and banks are the two areas where one would see maximum upside because they have been beaten down badly.
Stock Idea From: –
Prabhudas Lilladher has maintained ‘buy’ on Reliance Communications for a target price of Rs 670. RCom continued to focus on expanding its network in both domestic and international markets in 2007-08 and incurred a capital expenditure of $5 billion (previous year $3 bn).
OnMobile Global
cmp: Rs 495
target price: Rs 630
Nirmal Bang Securities has initiated cover on UB Engineering Ltd. (UBE) with a ‘BUY’ rating for target price of Rs 230 per share discounting FY10E earnings at a PE of 12x to be achieved over a period of 15-18 months.
Indiabulls Real Estate
cmp: Rs 286.80
target price: Rs 300
Infrastructure firm Era Infra Engineering today said that its joint venture with Ukraine-based firm KMB has bagged a Rs 129.65 crore contract from the Airports Authority of India (AAI). In a filing to the Bombay Stock Exchange, Era Infra said the contract consists of construction related works at Raipur airport.
ABB India
cmp: Rs 893.40
target price: Rs 728
Sharekhan has maintained ‘buy’ on Mold-Tek Technologies for a target price of Rs 169. The company’s Apr-Jun 2008-09 revenues grew by 23.1 per cent year on year to Rs 33.9 crore. The plastic division’s revenues grew by 24 per cent to Rs 29.1 crore, while the KPO division revenues grew by 18.2 per cent to Rs 5 crore during the quarter.
Devangshu Dutta, Consulting Editor, Outlook is of the view that below Rs 545, Tata steel can touch Rs 525.