OnlineEquityCalls.com

BSE Sensex: (13316) the market unfolded as expected in a sideways correction with a bias down…the market opened with a bear gap and closed in the positive…we should see some more upside from here…

IIFL has recommended a buy rating on Idea Cellular with a 12 month target of Rs 112 in its September 18, 2008 research report. “Idea Cellular is yet to receive the USD 640 million investment from the private-equity deal done in May this year, and the rupee’s depreciation against the USD will result in a gain exceeding Rs 2 billion for Idea. In FY08, Idea managed its FX exposure better than peers. Idea also sported the best asset turnover, highest depreciation rates and the highest ROE among the big carriers. It raised its market share in FY08 from 8.4% to 9.2% in terms of share of wireless subscribers.”

SBICAP Securities has maintained its buy rating on Piramal Healthcare with a target of Rs 360 in its September 16, 2008 research report. “We value PIHC using a range of approaches including DCF and relative approaches. We use relatives to set our target valuation of Rs 360 based on a sum-of-parts PE approach on weighted average EPS of Rs 22.10 (FY09-10); implying an exit PE multiple of 17.4x and 14.9x over the FY09 and FY10 EPS of Rs 20.64 and Rs 24.13 respectively, Buy,” says SBICAP Securities’ research report.

Patni Computer Systems Inc. (NYSE: PTI), a leading global IT services provider, today announced plans to exhibit and announce two new products and services at the Oracle OpenWorld conference Sept. 21-25 at the Moscone Center, 747 Howard St., in San Francisco.

IIFL has upgraded its rating on Hero Honda Motors to add with a 12 month target of Rs 920 in its September 18, 2008 research report. ” We expect a 19% CAGR in HH’s EPS from FY08-11ii and hence revise our target multiple from 12x to 13x. We value the stock at 13x FY10ii EPS and revise our target price to Rs 920 from Rs 795. We upgrade the stock to ADD. The key risk to our call is that any worsening in the competitive scenario could result in aggressive discounts, putting margins under pressure,” says IIFL’s research report.

Rashesh Shah, CMD and CEO, Edelweiss Capital, sees the Nifty ranged between 4,000 and 4,500.

वित्त मंत्री पी चिदंबरम के बयान ने आज बुरी तरह डूबे हुए भारतीय शेयर बाजार में जान डाल दी। आखिर एक घंटे में आई तगड़ी शार्ट कवरिंग ने सेंसेक्‍स और निफ्टी को बढ़ाकर बंद किया। निफ्टी चार हजार अंक के मनोवैज्ञानिक स्‍तर से ऊपर बंद हुआ जिससे निवेशकों ने फिलहाल राहत महसूस की है।

Religare Institutional Research has maintained ‘buy’ on Nagarjuna Construction for a target price of Rs 173. Nagarjuna Construction has cancelled the 2.5 million warrants, that the company had issued in Feb 2007 to A V S R Holdings after receiving an advance of Rs 5.4 crore and which were due for conversion in September 2008 at a price of Rs 217, the promoters will exercise their right not to pay the balance amount. Post this announcement, A V S R Holdings has purchased 693,675 shares from the open market.

SBICAP Securities has maintained its buy rating on Infrastructure Development Finance Company (IDFC) with a target of Rs 104 in its September 16, 2008 research report. “IDFC has evolved as a diversified financial institution in the infrastructure finance segment with two major acquisitions of SSKI Securities (79.8%) and the Standard Chartered Mutual Fund (100%). IDFC’s private equity business continues to scale up rapidly with assets under management expected to triple to USD 2.3 bn. by the end of this fiscal.”

Kotak Institution has maintained its add rating on ICICI Bank with a target of Rs 870, report CNBC-TV18.

India Capital Markets has maintained its buy rating on Everest Kanto Cylinder with a target of Rs 355 in its September 18, 2008 research report. “Considering EKC’s Greenfield and Brownfield projects underway and introduction of Jumbo Cylinders at Gandhidham and China units imply improved prospects for the company. It is introducing new product line i.e. Jumbo Cylinders in China and Gandhidham where realization is much higher. However, gestation period is high and it will take around 1 to 2 years before the full benefit of this can accrue from the added capacities to the company. At CMP of Rs 282, EKC is trading at 11.9x FY10E earnings of Rs 23.7. We reiterate our BUY with a price target of Rs 355,” says India Capital Markets’ research report.