Analysts’ pick: Aban Offshore
Aban Offshore
CMP: Rs 2,460.45
Target Price: Rs 3,600
Archive for September 20th, 2008
Analysts’ pick: Hindustan Unilever
Hindustan Unilever
CMP: Rs 245.15
Target Price: Rs 277
Analysts’ pick: ICICI Bank
ICICI Bank
CMP: Rs 628.10
Target Price: Rs 1,010
Analysts’ pick: Zee Entertainment
Analysts’ pick: Zee Entertainment
CMP: Rs 208.90
Target Price: Rs 254
Hindalco rights issue to open in turbulent market
Hindalco will open its Rs 5,000 crore rights issue on Monday amid the financial crisis in the global markets. The proceeds of the issue, which will close on October 10, will be utilised to part refinance the metals major’s earlier $3.03-billion bridge loan to acquire Canadian aluminium major Novelis. The Aditya Birla flagship purchased Novelis for an enterprise value of $6 billion last year.
Buy Bharti Airtel, target of Rs 1020: Motilal Oswal
Motilal Oswal has maintained its buy rating on Bharti Airtel with a target of Rs 1020 in its September 18, 2008 research report. “Bharti offers highest earnings visibility in the sector. Valuations at 9.5x FY09E and 7.5x FY10E EV/EBITDA are at lower end of its historical 9-15x EV/EBITDA band and attractive considering 2-year EBITDA CAGR of 1%. Maintain Buy,target of Rs 1020,” says Motilal Oswal’s research report.